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
U.S. livestock: CME cattle dive as coronavirus slams global markets
Technical buying limits hogs' losses
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
U.S. livestock: CME live cattle sink on fund selling
Commodities funds take risk-off stance due to COVID-19
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures fell sharply in actively traded nearby contracts on Wednesday as concerns about the spread of coronavirus and its impact on demand triggered active selling by commodities funds. Slumping cash market prices further fueled the slide, with the benchmark April contract sinking to its lowest point […] Read more
U.S. livestock: CME hog futures firm
Cattle contracts ease
Chicago | Reuters — Chicago Mercantile Exchange hog futures ended higher on Friday on a mild technical bounce while cattle contracts weakened. Feeder cattle contracts were under pressure from profit-taking following six straight days of gains that pushed the front-month contract to its highest since Jan. 30. CME lean hog futures for April delivery ended […] Read more
U.S. livestock: Cattle bounce after this week’s four-month lows
Plentiful hog supplies drag on futures
Chicago | Reuters — U.S. live cattle futures closed higher on Friday on bargain buying after the benchmark April contract fell to a 4-1/2-month low this week, with traders citing expectations for a seasonal pickup in beef demand, traders said. Benchmark April live cattle futures on the Chicago Mercantile Exchange settled up 1.8 cents at […] Read more
U.S. livestock: Lean hogs edge up on hopes for Chinese demand
April live cattle up on short-covering
Chicago | Reuters — U.S. lean hog futures rose modestly on Thursday on technical buying and hopes China will step up purchases of U.S. agricultural goods including pork as the U.S.-China Phase One trade deal takes effect, brokers said. Benchmark April lean hog futures on the Chicago Mercantile Exchange settled up 0.3 cent at 64.075 […] Read more
North American hog markets wracked by coronavirus
MarketsFarm — Besides shutting down entire cities and killing more than 1,000 people, China’s novel coronavirus outbreak has wreaked havoc on North America’s hog futures. “It’s a dubious relationship, but it is impacting markets,” said Tyler Fulton, risk management director for Hams Marketing Services in Winnipeg. Lean hog futures moved “in concert with drops in […] Read more
U.S. livestock: Cattle sag on weaker cash trade
Coronavirus jitters also rattle cattle markets
Chicago | Reuters –– U.S. live cattle futures fell on Tuesday, with the benchmark April contract touching its lowest since late September on falling cash cattle prices and worries about the impact of the coronavirus outbreak in China, traders said. Cash cattle traded lightly in Kansas and Nebraska at $119-$120 per cwt, traders said, down […] Read more
Coronavirus disrupts China meat imports, food supplies
Swine fever has created pork shortage
Chicago | Reuters — Coronavirus is disrupting meat shipments to China as the country faces a shortage due to an outbreak of a fatal pig disease, Tyson Foods Inc and U.S. agricultural groups said on Thursday. An outbreak of African swine fever, which infects only pigs, has decimated China’s herd, pushing Chinese pork prices to […] Read more
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