Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures ended mixed on Tuesday after matching a contract high because of tight U.S. supplies and firm cash markets, analysts said. The hog market has surged this year due to strong domestic demand and solid export sales to China, the world’s biggest pork consumer. Profit-taking […] Read more
U.S. livestock: July hogs retreat after matching contract high
August live cattle up slightly, feeders down
JBS plants reopen as White House blames Russia over hack
Washington/Chicago | Reuters — JBS SA employees started returning to U.S. meat plants on Wednesday, a day after the company’s beef operations stopped following a ransomware attack, disrupting meat production in North America and Australia. A notorious Russia-linked hacking group is behind the cyberattack against JBS, a source familiar with the matter said. Brazil’s JBS […] Read more
U.S. livestock: Lean hogs up on firm demand, tight supplies
Daily cattle slaughter down on week
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures climbed on Friday as pork demand remained firm and supplies of market-ready hogs stayed low, analysts said. “At some point though, you would think the wholesale price would put a damper on demand, at some point in the summer,” said Doug Houghton technical analyst at […] Read more
Olymel gets home province’s backing for plant upgrades
Quebec to invest $150 million in packer
Pork and poultry producer and packer Olymel has picked up equity investments from its home province to support a total of $315 million in plant upgrades. The Quebec government announced Tuesday it would invest $74 million in Olymel through its economy and innovation ministry’s Fonds pour la croissance des entreprises quebecois (FCEQ) plus $76 million […] Read more
JBS able to pass on higher grain costs in North America
Sao Paulo | Reuters — JBS SA, the world’s largest meatpacker, has been able to pass higher grain costs on to consumer prices because food demand is strong in markets such as the U.S. and Canada, executives said in an earnings call Thursday. In Brazil, where higher feed prices have dented margins of the company’s […] Read more
U.S. livestock: CME cattle futures up on beef prices, demand
June hogs down off recent rallies
Chicago | Reuters — Chicago Mercantile Exchange cattle futures rose on Friday on strong beef prices and demand for red meat that also catapulted margins for beef processors. Meat demand is high as federal stimulus checks have increased incomes and prompted consumers to spend more at supermarkets and restaurants, analysts said. COVID-19 vaccinations are also […] Read more
U.S. livestock: Hogs rally again on pork prices, supply woes
June live cattle rise to even with June hogs
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures extended a sharp rally on Wednesday, touching contract highs for the fourth consecutive day on limited supplies and strong pork prices. U.S. pork demand is strong as sales have benefited after households received additional COVID-19 pandemic relief money from the federal government, analysts said. The […] Read more
U.S. livestock: Hog futures extend rally on cash prices, tight supply
Cash cattle, beef values see 'significant disconnect'
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures hit contract highs for the third consecutive day on Tuesday as a strong cash market and tight supplies pushed up prices. Solid demand for pork has helped boost the market, with meat processors paying up to buy hogs from producers, analysts said. The U.S. Department […] Read more
Workers call strike at Olymel hog plant in Quebec
Producers urged to prioritize heavier hogs when shipping
Talks toward a new contract for unionized employees at meat packer Olymel’s hog slaughter and processing plant in Quebec’s Beauce region have ended in a strike. The Syndicat des travailleurs d’Olymel Vallee-Jonction-CSN, which represents over 1,000 staff at Vallee-Jonction, about 60 km southeast of Quebec City, called an “indefinite” strike effective Wednesday morning, the union […] Read more
Montreal longshore workers escalate strike
Strike to move from part-time to full-time on Monday
Exports of containerized crops and other goods and imports of ag inputs may stall as striking longshore workers at the Port of Montreal get set to level up from part-time to full-time work stoppage. The Syndicat des debardeurs du port de Montreal (CUPE Local 375) said Friday its members, who have been striking on weekends […] Read more
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