Chicago | Reuters — Chicago Mercantile Exchange live cattle futures were mixed on Tuesday as the spot contract rose on its discount to the cash market while deferred months drifted lower under heavy supplies of cattle, traders said. CME April live cattle closed up 0.775 cent/lb. at 112.8 cents, edging up ahead of the contract’s […] Read more
U.S. livestock: CME live cattle end mixed as market weighs big supply
Klassen: Feeder market continues lower trend
Western Canadian feeder cattle markets traded $5 to $8 below week-ago levels; noticeable declines were noted in the lighter weight categories, which were down $6 to as much as $10. Adverse weather continues to plague the feedlot regions of Alberta and Saskatchewan. Another snowfall over the weekend caused pen conditions to erode to lowest levels […] Read more
U.S. livestock: CME lean hogs jump on short-covering
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures rallied more than three per cent on Monday in a short-covering and bargain-buying rebound from life-of-contract lows posted last week, traders said. Some contracts, including actively-traded June, rose by as much as the daily three-cent limit as a steady slide in prices over the past […] Read more
U.S. livestock: CME live cattle stumble on profit-taking
Chicago | Reuters — Chicago Mercantile Exchange live cattle turned lower on Friday after profit-taking and fund liquidation gave back some of the market’s gains over the past two days, said traders. U.S. stocks’ plunge over trade war fears unnerved CME livestock investors still digesting Monday’s Chinese tariff hike on U.S. pork, with similar plans […] Read more
U.S. livestock: Fund buying sends CME live cattle higher
Chicago | Reuters — Chicago Mercantile Exchange live cattle rose sharply for a second straight day on Thursday, driven by short covering and fund buying, said traders. Investors, for now, are focused more on what packers will pay for cattle in the near term than a potential trade war with China, a trader said. On […] Read more
U.S. livestock: CME live cattle shrug off China beef tariff news
Chicago | Reuters — Chicago Mercantile Exchange live cattle closed higher on Wednesday, after bargain buying reversed earlier losses following China’s proposed tariff increase on U.S. beef, said traders. China listed beef and other U.S. goods that may incur a 25 per cent duty by the end of May if Washington makes good on threats […] Read more
U.S. livestock: More CME hog losses on China pork tariff hike
Chicago | Reuters — Chicago Mercantile Exchange lean hogs on Tuesday tumbled for a second straight day, dragged down by slumping cash hog prices and China’s additional 25 per cent tariff on U.S. pork imposed on Monday, said traders. The Chinese raised duties on pork, and more than 100 other U.S. products, after the U.S. […] Read more
Klassen: Rising feed grain prices weigh on feeder market
Western Canadian yearling prices were relatively unchanged from week-ago levels; however, feeder cattle fit for grass and calves dropped $4 to as much as $10 from seven days earlier. Rising feed grain costs appear to be affecting lighter weight categories more than the yearling market. Feedlots will be struggling with negative margins through the summer […] Read more
U.S. livestock: CME hogs limit down on China pork tariff hike
Chicago | Reuters — Some deferred-month Chicago Mercantile Exchange lean hog futures settled down their three-cent-per-pound daily price limit on Monday after China raised tariffs on U.S. pork by another 25 per cent, said traders. Late on Sunday China announced higher duties on U.S. pork and over 100 other products that went into effect on […] Read more
U.S. livestock: Cattle tumble as USDA report rallies corn
Chicago | Reuters — U.S. live cattle futures fell sharply on Thursday as a rally in the corn market sent feeder cattle tumbling and as weak cash cattle prices and rising supplies weighed on sentiment, traders said. The actively traded Chicago Mercantile Exchange June contract dropped by the three-cent-per-pound daily limit to settle at 102.575 […] Read more
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