Chicago | Reuters — U.S. live and feeder cattle futures touched their lowest prices in months on Friday as traders booked profits amid fears about the spread of a new virus from China. Broad selling also hit hog futures, along with equities and crude oil as investors moved into safe-haven assets. Developments in the spread […] Read more
U.S. livestock: Cattle set multi-month lows as virus fears hit markets
U.S. livestock: Hogs, cattle ease amid uncertain Chinese demand
Chicago | Reuters — U.S. livestock futures came under pressure on Tuesday as traders waited for signs of increased Chinese demand after Beijing and Washington signed an initial trade deal last week. China pledged to increase purchases of U.S. agricultural products as part of the agreement, which is meant to reduce tensions after nearly two […] Read more
U.S. livestock: CME cattle, hogs firm on winter weather woes
Chicago | Reuters — Front-month lean hog futures on the Chicago Mercantile Exchange (CME) settled about one per cent higher on Friday, supported by fears that a weekend winter storm in the Plains and Midwest would slow the transport of livestock and complicate pork and beef plant operations, traders said. “We see some significant disruptions […] Read more
U.S. livestock: CME hogs slide on Phase One uncertainty
Chicago | Reuters — U.S. lean hog futures on the Chicago Mercantile Exchange (CME) fell about 1.5 per cent on Thursday, joining a broad sell-off in agricultural futures that traders attributed to fund selling and uncertainty about the details of a U.S.-China trade agreement signed a day earlier. China agreed to increase purchases of U.S. […] Read more
U.S. livestock: Hogs firm in muted reaction to Phase One pact
Chicago | Reuters — U.S. lean hog futures on the Chicago Mercantile Exchange (CME) inched higher on Wednesday as the United States and China signed a Phase One trade agreement that could lead to increased sales of U.S. meat to the world’s biggest pork consumer. However, gains in futures were muted by a lack of […] Read more
U.S. livestock: Lean hog futures rebound
Chicago | Reuters — Lean hog futures on the Chicago Mercantile Exchange (CME) closed higher on Tuesday, bouncing a day after falling to a one-month low as traders adjusted positions ahead of Wednesday’s planned signing of a U.S.-China trade agreement, brokers said. “The choppy trade continues. There is clearly some nervousness associated with what is […] Read more
Klassen: Feeder market starts 2020 on steady tone
Compared to last week, short-keep replacement cattle and feeders in the mid-weight categories were steady to $3 lower on average; feeder cattle under 600 lbs. traded $2 lower to as much as $5 higher. Featherlight calves remain strong trading at similar levels to late December. Most auction markets resumed their regular sales schedules last week. […] Read more
U.S. livestock: Lean hogs sink on big supply, premium to cash prices
Chicago | Reuters — U.S. lean hog futures fell on Thursday on ample supplies of hogs and a weak cash market, and as traders remain uncertain about how much additional pork China would buy as part of a Phase One trade deal with the United States. The actively traded Chicago Mercantile Exchange (CME) February contract […] Read more
U.S. livestock: Cattle pull back after Monday rally
Chicago | Reuters –– U.S. live cattle futures eased on Tuesday in a profit-taking setback from the prior session’s steep jump after weeks of rising cattle prices that have eroded beef packer margins. Live cattle futures were due for a pullback after scaling to an 8-1/2 month peak last week on strong beef demand and […] Read more
Klassen: Fed cattle market underpins feeder cattle prices
Alberta packers were buying fed cattle on a dressed basis at an average price of $275 delivered, which equates to $165 on a live basis. Fed cattle prices are now at 52-week highs and feeding margins are in the range of $50 to $70 per head. Strength in the cash fed cattle market was supportive […] Read more