Chicago | Reuters — Chicago Mercantile Exchange lean hog futures surged more than three per cent on Friday while live cattle gained about one per cent, lifted by chart-based and investment fund buying, traders and analysts said. Hog futures had tumbled to a roughly 11-month low on Wednesday, before stabilizing on Thursday and then rising […] Read more
U.S. livestock: Hog futures surge on technical bounce
U.S. livestock: Hog futures fall to 11-month low
Chicago | Reuters –– Chicago Mercantile Exchange lean hog futures tumbled to an 11-month low in a bear-spreading selloff linked to big U.S. hog supplies and declines in cash markets, traders said. Live cattle futures also eased on spreading and worries beef packers might be hesitant to pay higher prices for cattle when supplies were […] Read more
U.S. livestock: Cattle, hogs narrowly mixed on pre-USDA consolidation
Chicago | Reuters — Chicago Mercantile Exchange live cattle and lean hog futures were flat to narrowly mixed on Monday as investors consolidated positions ahead of a government livestock and crop report due on Tuesday, traders and analysts said. Some live cattle contracts eked out small gains following modestly higher sales in U.S. Plains cash […] Read more
U.S. livestock: Funds, short-covering extend CME live cattle gains
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures on Friday closed higher for a third day in a row, led by fund buying and investors who covered previously short positions, said traders. December led advances after funds in CME’s livestock markets that track the Standard + Poor’s Goldman Sachs Commodity Index bought that […] Read more
U.S. livestock: Spreads help drive up CME live cattle futures
Chicago | Reuters — Chicago Mercantile Exchange live cattle closed higher on Thursday after investors bought October futures and simultaneously sold deferred months in a trading strategy known as bull spreads, traders said. Some market participants, also through spreads, purchased live cattle futures and at the same time sold CME lean hog contracts. There are […] Read more
U.S. livestock: CME live cattle gain on firmer beef prices
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures settled moderately higher on Wednesday, with help from short-covering and improved wholesale beef values, said traders. December received added support from fund buying after the contract topped the 10-day moving average of 109.648 cents (all figures US$). October live cattle finished up 0.275 cent/lb. at […] Read more
U.S. livestock: Cattle mostly firm on short covering
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures were mostly higher on Friday, lifted by end-of-week short covering following a decline to nine-month lows a day earlier, traders said. Futures, however, remain anchored by plentiful supplies of market-ready cattle and weak cash markets as fed cattle in the U.S. Plains this week traded […] Read more
U.S. livestock: Short-covering, bargain buying boost CME hogs
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures closed higher on Wednesday after bargain buyers and investors covering short positions reversed Tuesday’s slide to an 8-1/2 month low, traders said. Prior to Wednesday’s session CME hogs had a relative strength index (RSI) reading of 17. An RSI below 30 suggests a market is […] Read more
U.S. livestock: Supplies drag CME hogs to eight-month low
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures on Monday were weakened by falling prices for slaughter-ready, or cash, hogs along with softer wholesale pork values as supplies build seasonally, said traders. They said packers also have more livestock at their disposal as packing plants prepare to shut down for the upcoming Labour […] Read more
U.S. July feedlot cattle placements smaller than expected
Chicago | Reuters — Ranchers in July placed 2.7 per cent more cattle in U.S. feedlots than a year ago, the U.S. Department of Agriculture reported on Friday, which fell short of average analysts’ forecasts. Dwindling profits for feedyards, after being paid less for their cattle by packers, discouraged them from buying calves for fattening […] Read more
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