Chicago | Reuters — Chicago Mercantile Exchange hog futures surged their daily limit on Tuesday, rebounding from Friday’s life-of-contract lows on a round of bargain-buying and short-covering toward the end of the month, and as feed grain futures fell sharply, traders said. “It really got grossly overdone to the bottom side,” said Dennis Smith, commodity […] Read more
U.S. livestock: CME lean hogs limit-up on bargain buying
Cash and beef values lift cattle futures
Klassen: Canadian feeder market rationing demand
Improvement seen in feeding margins
For the week ending Saturday, western Canadian feeder markets averaged $3-$6/cwt higher compared to seven days earlier. Weakness in the Canadian dollar along with strength in the deferred live cattle futures set a positive tone. Recent rains have enhanced yield potential for the Canadian barley crop, which also underpinned nearby cash values. Alberta packers were […] Read more
Black Sea grain deal slow to get moving after extension
Ukraine says Russia has effectively frozen out one port
United Nations | Reuters — A deal allowing the safe wartime export of grain and fertilizer from Ukrainian Black Sea ports has not yet resumed full operations, the United Nations said on Friday, having come to a halt before Russia’s decision last week to extend it. The pact called the Black Sea Grain Initiative, brokered […] Read more
U.S. grains: Corn hits one-month high on weather worries
Soybean, wheat futures also advance
Chicago | Reuters — Chicago Board of Trade corn futures reached a one-month high on Friday as forecasts for dry weather in the U.S. Midwest kept attention on early risks to this year’s crop. Soybean and wheat futures also rose, with the agricultural markets posting weekly gains following recent declines to multi-month lows. Traders added […] Read more
U.S. livestock: CME hogs down 10 per cent on week
Feeder cattle down on corn rally
Chicago | Reuters — Chicago Mercantile Exchange hog futures dropped to contract lows again on Friday, as poor demand for U.S. pork continued to depress prices. The losses heap more pain on producers who have struggled with weak prices for pigs and high costs for expenses such as feed and labour. “Producers are losing their […] Read more
Taiwan pledges full access for Canadian beef
Market to reopen in 'a couple weeks,' minister says
Canadian beef exporters can expect to regain full market access to Taiwan within the next couple of weeks, Canada’s international trade minister said Thursday. Posting on Twitter Thursday from the Asia Pacific Economic Cooperation (APEC) trade ministers’ meeting in Detroit, Mary Ng said Taiwanese officials have confirmed the decision, which she hailed as “great news […] Read more
U.S. livestock: CME hogs sink to contract lows
Cattle futures up with beef sales, tight supplies
Chicago | Reuters — Chicago Mercantile Exchange hog futures tumbled to contract lows on Thursday, as excess supplies and sluggish demand for U.S. pork fueled losses for a fifth consecutive session. Weak prices for pigs and high production costs continue to make it unprofitable to raise hogs, leading some analysts to project that producers will […] Read more
U.S. grains: Weak export demand, rising U.S. dollar pressure soy, corn
Markets consolidate before U.S. holiday weekend
Chicago | Reuters — Chicago Board of Trade soybean and grain futures eased on Thursday as a strong U.S. dollar added to concerns about lacklustre export demand, traders said. The dollar rose for a fourth straight session to a two-month high, making U.S. commodities look less attractive to importers. Favourable weather for planting of U.S. […] Read more
U.S. grains: Profit-taking pressures wheat futures
CBOT corn firm, soy mixed
Chicago | Reuters — U.S. wheat futures fell on Wednesday on a round of profit-taking as traders said the market lacked fundamental inputs to drive prices higher a day after a rally driven by renewed concerns over a Black Sea deal. Corn futures were firm for the second day in a row, with old-crop contracts […] Read more
U.S. livestock: Hog futures weak on bearish supplies
Chicago cattle futures firm
Chicago | Reuters — Chicago Mercantile Exchange hog futures fell for the fourth day in a row on Wednesday, with a large supply base pressuring the market. Cattle contracts were firm, rising on a round of technical buying. After the close, the U.S. Agriculture Department said frozen U.S. beef stocks as of April 30 stood […] Read more
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