Chicago | Reuters — Profit-taking pushed down Chicago Mercantile Exchange cattle futures on Tuesday, while front-month lean hog futures tumbled to another contract low. Losses on Wall Street helped set a negative tone for the markets, as live cattle futures pulled back from contract highs reached on Monday, traders said. “Cattle-wise, we got a bit […] Read more
U.S. livestock: CME cattle slide on profit-taking
April lean hogs set contract low
Pulse weekly outlook: World chickpea supplies expected tight over next six months
MarketsFarm — Chickpeas are expected to be in short supply around the world over the next six months, according to a release from the Global Pulse Confederation (GPC). Hot and dry weather in India cut production prospects for that country’s kabuli chickpea crop, according to the report. Production out of Mexico also failed to meet […] Read more
Saudi Arabia highly dependent on grain imports
Alfalfa more profitable for domestic growers
MarketsFarm — While Saudi Arabia is a giant among the oil-producing countries of the world, the desert kingdom does produce small amounts of grain. With a population that’s about one million less than Canada’s, Saudi Arabia is extremely dependent on importing its grain from overseas. The U.S. Department of Agriculture’s (USDA) attaché in Riyadh explained […] Read more
U.S. grains: Chicago soybeans, wheat up on energy boost
Crude oil jumps on surprise OPEC+ output cuts
Mexico City | Reuters — Chicago soybean and wheat futures closed higher on Monday, boosted by a rally in energy markets and concerns over U.S. crop conditions. Corn closed lower, however, as weather forecasts showed slightly drier conditions that would be favourable to planting, analysts said. Oil prices spiked after a surprise announcement by OPEC+ […] Read more
U.S. livestock: CME live cattle down off highs on profit-taking
Hogs continue mixed on U.S. farrowing intentions
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures slumped on Monday as profit-taking dragged prices down after the market set new contract highs, traders said. CME June live cattle ended down 0.9 cent at 161.225 cents/lb., after reaching a high of 162.525 cents/lb. (all figures US$). That exceeded Friday’s high of 162.175 cents/lb. […] Read more
U.S. grains: Soybeans climb on supportive USDA data
Corn mixed; May wheat unchanged on day
Chicago | Reuters — U.S. soybean futures rose 2.1 per cent on Friday, climbing back above US$15 a bushel for the first time since mid-March after the U.S. Department of Agriculture’s forecast for 2023 plantings and its March 1 soy stockpiles estimate both came in at the low end of trade expectations. Corn futures ended […] Read more
U.S. livestock: CME hogs up in deferred months
USDA report fuels supply uncertainty; cattle up on cash strength
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures rose in deferred contracts on Friday on U.S. producers’ plans for fewer sows to farrow, analysts said. Producers intend to have 2.93 million sows farrow, or give birth, from March to May, down one per cent from actual farrowings a year earlier, the U.S. Department […] Read more
Beef sector rips ‘unjust’ result as talks wrap on U.K. entry to CPTPP
Dairy sector calls for 'vigilant' enforcement on British imports
Negotiations have concluded for the United Kingdom to join Canada and its 10 partner nations in the Trans-Pacific Partnership (CPTPP) trade pact, with Canada’s beef cattle sector already calling the results “fundamentally unjust.” Federal Trade Minster Mary Ng on Thursday announced the conclusion of negotiations, making the U.K. the first accession applicant to reach that […] Read more
U.S. livestock: CME live cattle set contract high as cash prices jump
USDA sees hog farrowing intentions down on year
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures strengthened on Thursday, with the front-month contract setting a new high, as cash prices climbed. Cash cattle trades of around $170-$171/cwt in western Nebraska and around $172/cwt in northwest Iowa ignited the rally in futures, analysts said (all figures US$). Cash prices were up about […] Read more
U.S. grains: Wheat down off Wednesday’s one-month high
USDA stocks, prospective plantings reports due out Friday
Chicago | Reuters — U.S. wheat futures fell on Thursday on profit-taking after one-month highs a day earlier and reminders of strong competition for global export business, analysts said. Nearby corn and soybean futures drifted lower as traders squared positions ahead of key U.S. plantings and stocks reports due on Friday. Chicago Board of Trade […] Read more
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