Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed sharply higher on Wednesday after bargain hunting and short-covering snapped the market’s two-day losing streak, traders said. “I think some people are finally catching on to the idea that maybe sentiments that this market will continue to decline is overdone,” said Doane Advisory Services […] Read more
U.S. livestock: CME live cattle rally on bargain buying
U.S. livestock: Supply worries again sink CME live cattle to five-year low
Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures on Tuesday sank to a five-year low for a second straight session in anticipation of weak cash prices by Friday, traders said. August ended 0.45 cent/lb. lower at 108.9 cents, and earlier posted a new contract low of 108.175 cents (all figures US$). October finished […] Read more
Klassen: Feeder market weathering summer storms
Western Canadian feeder cattle were traded $3 to $5 below week-ago levels, with replacements over 700 lbs. absorbing the bulk of the decline. Despite the sharp drop in barley prices, uncertainty in the deferred cash fed cattle prices caused feedlots operators to back away from the market. Secondly, ideas are that yearling prices will weaken […] Read more
U.S. livestock: CME live cattle gain on cash price discount
Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures gained modestly on Friday, but eased from session highs, helped by their discounts to this week’s cash prices that fell shy of expectations, traders said. August ended 0.425 cent/lb. higher at 112.225 cents, and October finished up 0.1 cent, to 112.325 cents (all figures US$). […] Read more
U.S. livestock: CME live cattle drop as funds roll August positions
Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures closed lower on Thursday following the roll by funds out of August into deferred months ahead of similar moves beginning on Friday, traders said. Friday is the first of five days in which funds in CME’s live cattle and lean hog markets that track the […] Read more
U.S. livestock: Supply worries sink lean hogs to one-month low
Chicago | Reuters — Chicago Mercantile Exchange lean hogs on Wednesday slid to a one-month low, pressured by concerns over possibly more supplies ahead, traders said. July ended down 0.475 cent/lb. to 81.575 cents (all figures US$). Most actively traded August finished 2.625 cents lower at 80.625 cents. The government’s quarterly hog report in late […] Read more
U.S. livestock: Cattle advance on cash market optimism
Chicago | Reuters — U.S. live cattle futures rebounded from early-session weakness on Tuesday to close higher for the fifth time in six trading sessions on expectations for firm cash cattle prices this week. Feeder cattle futures also climbed, drawing some support from sharply lower corn prices, while lean hogs ended mixed. Cattle futures markets […] Read more
Klassen: Feeder cattle market experiences thin trade
Western Canadian feeder cattle prices were relatively unchanged from week-ago levels. Many auction barns are in holiday mode and the shortened holiday week further shrunk market activity. In any case, feedlot operations on both sides of the border are focused on selling fed cattle and assessing current financial damage rather than bringing in replacements. The […] Read more
U.S. livestock: Cattle ease on profit-taking but gain for week
Chicago | Reuters — U.S. live cattle futures fell more than one per cent on Friday, snapping their longest streak of gains in a month as investors locked in profits ahead of the three-day July 4 holiday weekend, traders said. Feeder cattle futures also slumped in a profit-taking setback while lean hogs were narrowly mixed […] Read more
U.S. livestock: CME live cattle up fourth straight day
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures extended a winning streak to four sessions on Thursday with help from better-than-expected cash prices and firm wholesale beef values, traders said. June live cattle, which expired at noon CT, closed 1.1 cents/lb. higher at 120 cents (all figures US$). Most actively traded August ended […] Read more
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