Chicago | Reuters — Chicago Mercantile Exchange live cattle futures on Friday reached their highest level since late August, driven by short-covering following the morning’s strong wholesale beef prices, said traders. Buy stops and technical buying enhanced market advances, they said. December live cattle closed 1.6 cents/lb. higher to 112.325 cents, after breaking through the […] Read more
U.S. livestock: CME live cattle score 3-1/2 month high
U.S. livestock: Cash price caution pressures CME live cattle
Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures closed weaker on Thursday as investors wait for remaining slaughter-ready, or cash, cattle to change hands by Friday, traders said. December live cattle closed down 0.375 cent/lb. at 110.725 cents, and February was 0.425 cent lower at 113.275 cents (all figures US$). Packers may resist […] Read more
U.S. livestock: CME live cattle slip on cash prices
Chicago | Reuters — Chicago Mercantile Exchange live cattle contracts finished in bearish territory on Wednesday, weakened by profit-taking and disappointing early-week cash prices, traders said. December live cattle closed down 0.025 cent/lb. to 111.1 cents, and February down 0.275 cent to 113.7 cents (all figures US$). Cattle at Wednesday morning’s Fed Cattle Exchange (FCE) […] Read more
U.S. livestock: Fund buying drives CME live cattle higher
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures on Tuesday gained for a second day in a row on fund buying and higher wholesale beef prices, traders said. December live cattle closed up 0.775 cent/lb. to 111.125 cents (all figures US$). February ended 1.025 cents higher at 113.975 cents. “Most certainly fuelled by […] Read more
U.S. livestock: CME live cattle climb ahead of arctic blast
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed higher on Monday, partly in anticipation of bone-chilling temperatures in the U.S. Plains and Midwest by week’s end, said traders. Extreme cold typically slows down weight gain in cattle, making them less available to packers. Also grocers tend to stock up on meat in […] Read more
U.S. livestock: CME hogs notch three-month high
Chicago | Reuters –– Chicago Mercantile Exchange lean hog futures hit a three-month high on Friday, with help from buy stops and technical buying, traders said. December futures led advances after investors bought the contract and simultaneously sold deferred months. December hogs, which will expire on Wednesday, closed 1.05 cents/lb. higher at 56.725 cents (all […] Read more
U.S. livestock: Hogs up again on cash prices, fund buying
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures rallied for a fourth consecutive session on Thursday, spurred by higher cash prices and technical buying, said traders. December hogs, which will expire on Dec. 14, closed up 0.975 cent per pound to 55.675 cents (all figures US$). Most actively traded February ended 1.075 cents […] Read more
U.S. livestock: Higher cash, pork prices extend hogs’ rally
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures gained for a third straight day on Wednesday, led by upward-trending cash and wholesale pork prices, said traders. December hogs closed up 1.325 cents/lb. at 54.7 cents (all figures US$). Most actively traded February ended 2.275 cents/lb. higher at 59.75 cents. Packers are content to […] Read more
Klassen: Positive margins support feeder cattle market
Alberta packers were buying fed cattle at $150 this past week, which was $5 above breakeven pen closeout values. This rally in the fed cattle market was a long time coming and renewed optimism surged across the Prairies. Feeder cattle prices traded $3-$5 above week-ago levels, with lighter calves leading the charge higher. Fierce competition […] Read more
U.S. livestock: CME hogs rise on cash price optimism
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures on Monday hit a 1-1/2-month high, spurred by expectations for stronger near-term cash prices, said traders. They said technical buying contributed to market advances. December hogs closed up 0.75 cent per pound, to 51.5 cents (all figures US$). Most actively traded February ended 0.775 cent/lb. […] Read more
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