GFM Network News


COVID-19 cases shut Olymel hog slaughter plant

Facility in Quebec's Mauricie region to close for two weeks

The COVID-19 coronavirus has made its way into the labour pool at a major pork packing plant in Quebec’s Mauricie region, forcing a two-week shutdown. Olymel, the meat packing arm of Quebec-based Sollio Co-operative Group, announced Sunday it will temporarily close its hog slaughter and cutting plant at Yamachiche, about 20 km west of Trois-Rivieres, […] Read more

U.S. livestock: Hog, cattle futures dive as volatile trade continues

Chicago | Reuters — U.S. lean hog futures tumbled on Friday, with several contracts falling the expanded daily limit of 4.5 U.S. cents/lb. on worries about a slowdown in demand for pork and fears that the coronavirus could shutter slaughterhouses, potentially backing up hog supplies, traders said. Chicago Mercantile Exchange June lean hog futures settled […] Read more


China encourages firms to raise pigs overseas

Officials aim to plug domestic pork shortage

Beijing | Reuters — China said Monday it is encouraging companies to build pig farms overseas to plug a severe domestic pork shortage after a worse-than-ever African swine fever slashed almost half of its pig herd. China has urged local authorities to support qualified domestic firms to “go out,” and build hog farming bases in […] Read more

U.S. livestock: Wall Street leads CME cattle, hogs limit down

'You are developing a demand problem'

Chicago | Reuters — U.S. live cattle and feeder cattle futures plunged their daily limit on Thursday, dragged down by another steep sell-off on Wall Street, fears of a global recession and continued uncertainty about consumer demand for meat, traders said. Chicago Mercantile Exchange April live cattle contract settled down its three-cent limit at 100.075 […] Read more


U.S. livestock: Cattle, hogs follow rebound on Wall Street

Chicago | Reuters — U.S. live cattle futures closed higher on Tuesday, following as Wall Street charged back from the prior day’s steep losses as the world’s biggest economies moved to cushion the impact of the coronavirus, traders said. The rally in global equity markets overshadowed bearish fundamentals in the cattle market, including declining cash […] Read more



U.S. livestock: CME cattle retreat on demand worries

Hogs up on hopes for sales to China

Chicago | Reuters — U.S. cattle futures slid Thursday as the global spread of the COVID-19 coronavirus raised worries about an economic slowdown that could hurt demand for beef. U.S. beef demand has been strong since last year, helping to push April live cattle futures to a contract high in December. On Friday, though, futures […] Read more

U.S. livestock: CME cattle dive as coronavirus slams global markets

Technical buying limits hogs' losses

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures extended a steep sell-off on Friday on growing worries that the spread of coronavirus would dent global economic growth and could tip the world economy into recession. Global stocks and oil prices fell sharply as traders fretted over the economic toll of the virus that […] Read more


CME to raise hog futures trading limits as swine fever fuels volatility

New daily limit of 3.75 U.S. cents proposed for mid-April

Chicago | Reuters — CME Group said Thursday it plans to increase daily trading limits for its lean hog futures in April, then adjust them annually because of heightened volatility linked to the outbreak of a fatal pig disease in China. The spread of African swine fever in China, the world’s biggest pork consumer, has […] Read more

U.S. livestock: CME live cattle sink to new lows

COVID-19 continues to spook investors

Chicago | Reuters — Chicago Mercantile Exchange cattle futures ended mostly lower on Thursday, with several key contracts notching new contract lows on nagging worries about the spread of coronavirus and its impact on global economic growth and demand for beef. Commodity funds, which had recently built up a sizable net long position in live […] Read more