Theopolis Waters

U.S. live cattle futures rebounded on Friday with fund buying and short-covering offsetting lacklustre market fundamentals, said analysts and buyers. Chicago Mercantile Exchange live cattle rose almost one per cent for the week despite tepid wholesale beef demand and futures’ premium to prices for cattle in the cash market. "We’ve been watching the strength this […] Read more

U.S. feeder cattle futures settled firm on Thursday as corn prices drifted lower, but eased from a six-month high in response to live cattle market losses, said analysts and traders. CME January feeder cattle closed up 0.375 cent per pound to 153.125 cents. March was 0.35 cent lower at 155.075 cents (all figures US$). "Lower […] Read more

U.S. feeder cattle futures notched a six-month high for the second day in a row on Wednesday as corn prices weakened, reducing feed input costs, analysts and traders said. Short-covering and fund buying also put Chicago Mercantile Exchange (CME) feeder cattle in the win column for a sixth straight session. "It’s strictly a deal where […] Read more

U.S. live cattle futures bounded higher on Tuesday as unexpectedly strong wholesale beef prices triggered active short-covering, said analysts and traders. The U.S. Department of Agriculture showed the wholesale price for choice beef on Tuesday at $196.17 per hundredweight (cwt), up $2.12 from Monday, and the select price was $174.67, up $1.74 (all figures US$). […] Read more

U.S. live cattle futures posted modest losses on Monday as investors factored in Friday’s lower cash cattle prices, analysts and traders said. Late last week, packers paid $124 per hundredweight (cwt) for cattle in Kansas and Nebraska, down $1 from the week before. Live-basis cattle in Texas also fetched $124, compared with $126 to $128 […] Read more

Lower beef prices, funds pressure cattle

U.S. hog futures were lower on Thursday, pressured by profit-taking prompted by sentiments that cash hog and wholesale pork prices would trend lower, analysts and traders said. Chicago Mercantile Exchange (CME) December hogs led declines as some traders exited that contract ahead of its expiration on Dec. 14. Selling in February futures accelerated after it […] Read more

U.S. live cattle futures gained modestly Wednesday as investors brought the market closer in line cash cattle price expectations after a volatile day of trading, analysts and traders said. Chicago Mercantile Exchange live cattle spot December closed up 0.025 cent per pound to 126.15 cents. February ended at 130.525 cent, a gain of 0.375 cent […] Read more

U.S. live cattle futures fell on Tuesday, pulled down by anticipation for steady-to-lower cash cattle prices this week, analysts and traders said. The Chicago Mercantile Exchange’s live cattle spot December contract also drifted below the 20- and 40-day moving averages of 126.67 and 126.48 cents, triggering liquidation by funds (all figures US$). Funds also sold […] Read more

U.S. hog futures turned lower Monday on profit taking and sentiment cash prices are about to top out, wiping out an early-session spike to a six-month high, said traders and analysts. Chicago Mercantile Exchange (CME) hogs also rose to a relative strength index (RSI) reading of 76.67 — its highest since 77.07 on June 14. […] Read more