Chicago | Reuters — Chicago Mercantile Exchange live cattle futures on Wednesday posted their biggest daily gain in a month, fueled by short-covering and bargain buying after recent market losses, traders said. October live cattle ended 2.4 cents/lb. higher at 102.425 cents, and December up 2.275 cents at 104.2 cents (all figures US$). Investors may […] Read more
U.S. livestock: Bargain buying rallies CME live cattle, hogs
U.S. livestock: Live cattle losses deepen on supply woes, weak beef prices
Chicago | Reuters — U.S. live cattle futures declined more than two per cent on Tuesday, nearing their lowest levels in six years on pressure from big supplies of cattle and beef and lower wholesale meat prices, traders said. Cattle broke below the psychological threshold of 100 cents/lb. for the first time since November 2010 […] Read more
Klassen: Feeder market softens
Hope deferred makes the heart sick, goes the old proverb, and there is no greater example than in the cattle complex. Placid feedlot operators watched in dismay as fed cattle sold in the range of $133-$135 this past week, down approximately $6 from week-ago levels and $10 below breakeven pen closeout values. The stomach-churning fed […] Read more
U.S. livestock: Live cattle tumble to five-year lows on beef declines
Chicago | Reuters — U.S. live cattle futures fell to five-year lows on Friday, capping their worst weekly performance so far of 2016 in a technical selloff linked to bigger cattle supplies and lower wholesale beef prices, traders said. Lean hogs also tumbled, declining by as much as 4.8 per cent at the Chicago Mercantile […] Read more
U.S. livestock: Supply woes drag live cattle to five-year low
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures slumped on Thursday to their lowest level in five years following this week’s weaker cash prices on anticipation of increased supplies over the next few months, traders said. October live cattle ended down by the three cents/lb. daily price limit, at a new contract low […] Read more
U.S. livestock: Bearish fundamentals halt CME live cattle rally
Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures ended lower on Wednesday following softer wholesale beef values and this week’s disappointing cash prices, traders said. The thinly traded August live cattle contract, which expired at noon CT, closed up 0.45 cent/lb. at 111.95 cents (all figures US$). Most actively traded October and December […] Read more
U.S. livestock: CME live cattle rise for first session in 12
Chicago | Reuters — Chicago Mercantile Exchange live cattle contracts on Tuesday closed in positive territory for the first time in 12 sessions, helped by short-covering and futures’ discounts to early-week cash prices, traders said. August live cattle, which will expire on Wednesday, closed up 0.75 cent/lb. to 111.5 cents (all figures US$). Most actively […] Read more
Klassen: Feeder market stable but demand remains soft
Comments from the country this week suggested the market was slightly firmer than week-ago levels. However, market reports stated prices were relatively unchanged and actually softened late in the week. The old saying that even a priest lies about his car’s gas mileage applies to overly optimistic cattlemen trying to bolster market enthusiasm. Feedlot margins […] Read more
U.S. livestock: CME live cattle spiral downward as supply worries persist
Chicago | Reuters — Most Chicago Mercantile Exchange live cattle contracts drifted lower on Monday on ample supplies that pressured wholesale beef values and could again hurt cash prices by Friday, traders said. Thinly traded August futures, which will expire on Wednesday, were supported by their discount to last week’s prices for market-ready, or cash, […] Read more
U.S. livestock: Burdensome supplies again buckle CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures on Friday racked up losses for a 10th session in a row, on plentiful supplies that softened wholesale beef values and this week’s cash prices, traders said. Futures losses accelerated after October and December filled a key technical chart gap between the July 22 high […] Read more
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