Chicago | Reuters — U.S. live and feeder cattle futures climbed more than one per cent on Monday, adding to gains in the previous session, on technical buying and expectations cattle and beef prices will rise seasonally, traders and analysts said. Chicago Mercantile Exchange lean hog futures fell sharply. Friday’s expiration of October hogs left […] Read more
U.S. livestock: Cattle extend gains on technical buying
U.S. livestock: Cattle gain on short-covering after six-year lows
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures rose more than one per cent on Friday, boosted by short-covering as traders took profits on bearish bets after prices fell to six-year lows in the previous session. Feeder cattle also recouped a portion of their losses but gains in feeders were capped by sharply […] Read more
U.S. livestock: Cattle plumb new lows on technical selloff
Chicago | Reuters — U.S. cattle futures tumbled two per cent on Thursday, extending losses to six-year lows on pressure from technical selling and weak prices in cash cattle markets, traders said. Lean hog futures added to recent gains at the Chicago Mercantile Exchange, boosted by technical buying and as investors exited short positions following […] Read more
CME mulls cash settlement for volatile cattle market
Chicago | Reuters –– CME Group is considering switching to a cash settlement process for its live cattle futures, a managing director said Thursday, as traders continued to complain about extreme volatility. Dave Lehman, managing director of commodity research and product development, said discussions about the new settlement procedure were part of an all-encompassing review […] Read more
U.S. livestock: Cattle fall to six-year low on long liquidation
Chicago | Reuters –– U.S. cattle futures fell to six-year lows on Tuesday, adding to steep losses from the previous session as investors liquidated holdings amid ample animal and meat supplies, traders and analysts said. Lean hog futures gained more than one per cent at the Chicago Board of Trade, lifted by spreading as some […] Read more
U.S. livestock: CME live cattle slump limit down
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures on Monday settled down by their three cents/lb. daily price limit, on sell stops and fund liquidation after some contracts fell beneath chart support levels, said traders. October and December were down three cents/lb. at 98.875 and 100.05 cents, respectively (all figures US$). December futures […] Read more
Klassen: Patient buyers await lower feeder market
Patience is a virtue, the old saying goes. Unlike the past few years, feedlot operators have been rewarded for waiting and there is no clear signal the market has any incentive to deviate from the current direction. Western Canadian feeder markets were trading $5-$8 below week-ago levels as larger numbers come onstream in all weight […] Read more
U.S. livestock: CME live cattle close weak
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures finished weaker on Friday on weekend positioning after traders sold nearby contracts and bought deferred months in a strategy known as bear spreading, said traders. October ended down 0.55 cent/lb. lower at 101.875 cents, and December down 0.05 cent, to 103.05 cents. “I think that […] Read more
U.S. livestock: CME lean hogs rebound on bargain buying
Chicago | Reuters –– Chicago Mercantile Exchange lean hogs closed higher on Thursday on short-covering and bargain buying after futures tumbled to a seven-year low on Wednesday, traders said. CME October lean hogs, which will expire on Oct. 14, led advances due to a discount to the exchange’s hog index for Sept. 4 at 54.85 […] Read more
U.S. livestock: Burdensome supplies slam lean hog futures
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures fell sharply on Wednesday, with some contracts posting new lows, led by profit-taking and seasonally rising hog numbers, traders said. Cooler fall temperatures in the Midwest and highly-nutritious new-crop corn are causing pigs to grow faster. The U.S. Department of Agriculture data on Wednesday showed […] Read more
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