Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed sharply higher on Tuesday, ignited by bargain buying after burdensome supplies recently sank the contract to eight-month lows, said traders. “Everybody was just overly bearish and we had lots of long liquidation by funds pushing the market down. So we’ve got to where there […] Read more
U.S. livestock: CME live cattle rebound after bargain hunters step in
U.S. livestock: CME live cattle retreat on softer cash price outlook
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures fell on Monday on expectations for lower prices for slaughter-ready, or cash, cattle this week amid ample supplies, traders said. The decline triggered pre-determined sell orders, and funds sold the October contract after it slipped beneath its 200-day moving average of 107.183 cents (all figures […] Read more
U.S. livestock: Bargain buying pares some live cattle losses
Chicago | Reuters — Chicago Mercantile Exchange contracts on Friday landed in positive territory for the first time in five sessions, helped by short-covering and bargain buying, said traders. “We’ve had a big down week. I think this a kind of dead cat technical bounce (temporary recovery) ahead of the weekend,” Midwest Marketing Solutions analyst […] Read more
U.S. livestock: Supply jitters extend CME live cattle futures losses
Chicago/Reuters – Chicago Mercantile Exchange live cattle futures fell for a fourth straight session on Thursday, dragged down by growing worries about hefty near-term supplies, traders said. “We’ve got more numbers (cattle) out here and more numbers coming, and that’s just a Damocles sword over this market,” said Top Third Marketing analyst Mark Gold. Fund […] Read more
U.S. livestock: Live cattle hits 8-month low on cash prices
Chicago/Reuters – Chicago Mercantile Exchange live cattle futures tumbled to the lowest level in eight months, led by fund liquidation and weaker-than-expected prices for cattle ready for processing, traders said. August ended 2.475 cents per pound lower at 110.000 cents, and October closed 2.550 cents lower at 108.050 cents. Packers in the U.S. Plains on […] Read more
U.S. livestock: Market uncertainty weighs on CME live cattle futures
Chicago/Reuters – Chicago Mercantile Exchange live cattle futures were weakened on Tuesday by uncertainty over how much packers will pay for cattle this week and whether the seasonal lull in wholesale beef demand has ended, traders said. Futures remained at a steep discount, or undervalued, compared with this week’s expected prices for market-ready or cash […] Read more
U.S. livestock: Lean hog futures turn higher on cash discounts
Chicago/Reuters – Chicago Mercantile Exchange lean hogs settled higher on Friday, with buyers attracted to futures that remained undervalued compared to prices paid by packers for market-ready, or cash, hogs, traders said. CME’s hog index, a barometer for cash prices, for Aug. 2 was 87.11 per cwt. Bargain buying after recent losses and purchases by […] Read more
U.S. livestock: Beef price bounce extends live cattle gains
Chicago/Reuters – Chicago Mercantile Exchange live cattle futures finished in bullish territory for a third straight session on Thursday, helped by firmer wholesale beef values, said traders. Technical buying and futures’ discounts to cash prices so far this week provided additional market support, they said. August ended 0.700 cent per pound higher at 115.225 cents […] Read more
U.S. livestock: Live cattle futures climb on cash price discount
Chicago/Reuters – Chicago Mercantile Exchange live cattle futures climbed higher on Wednesday, driven by short-covering and futures’ discounts to early-week cash prices, traders said. Buy stops and fund buying enhanced market advances, they said. August ended 1.725 cent per pound higher at 114.525 cents per pound, and October 1.800 cents higher at 114.675 cents. Both […] Read more
U.S. livestock: Higher beef price boosts CME live cattle futures
Chicago / Reuters – Chicago Mercantile Exchange live cattle futures on Tuesday recovered some of their recent losses, helped by the morning’s wholesale beef price turnaround, traders said. Buy stops and futures’ discounts to this week’s expected cash prices provided additional market support, they said. August ended 0.800 cent per pound higher at 112.800 cents […] Read more
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