Chicago | Reuters — Chicago Mercantile Exchange hog futures soared to a new high on Tuesday after tight supplies forced packers to hike bids for market-ready animals, traders said. CME live cattle futures also closed up sharply led by select beef prices that hit an all-time high amid tight supplies, the traders said. Hog processors […] Read more
U.S. livestock: Strong cash, pork prices push CME hogs to new high
U.S. livestock: Tight supply outlook drives CME live cattle higher
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed higher on Monday after Friday’s government report confirmed tight supplies ahead, traders said. The U.S. Department of Agriculture cattle-on-feed report showed a seven per cent drop in the number of animals placed in U.S. feedlots in May. “We suspect the seven per cent decline […] Read more
U.S. livestock: CME live cattle futures slide before USDA report
Chicago | Reuters — Chicago Mercantile Exchange live cattle ended lower on Friday, on profit-taking ahead of the U.S. Department of Agriculture’s cattle-on-feed report Friday afternoon, traders said. USDA’s report is expected to show the number of cattle placed in feedlots in May declined from a year ago as high-priced calves deterred feedyards from buying […] Read more
U.S. livestock: Strong cash prices rally CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle finished higher on Thursday in response to stronger-than-expected prices for market-ready or cash cattle, traders said. Cash cattle in Texas and Kansas moved at $150 per hundredweight (cwt), up $2 from last week, according to feedlot sources (all figures US$). Investors had anticipated weaker cash returns […] Read more
U.S. livestock: CME feeder cattle limit down on profit-taking
Chicago | Reuters — Chicago Mercantile Exchange feeder cattle futures on Wednesday settled down their three-cent daily price limit on profit-taking, traders said. Lower live cattle future and fund liquidation hastened CME feeder cattle losses, they said. Feeder cattle futures reflect worries about how to make high-priced calves work with current market-ready cattle values and […] Read more
U.S. livestock: Lower cash price outlook pulls down CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures ended lower on Tuesday in anticipation of a seasonal bump in supplies that could pressure prices for market-ready or cash cattle, traders said. “It seemed like we delayed some bad news,” said EBOTTrading.com senior analyst John Kleist. Stronger-than-usual beef clearance leading up to Father’s Day […] Read more
U.S. livestock: Firm beef prices help drive CME live cattle higher
Chicago | Reuters — Chicago Mercantile Exchange live cattle closed higher on Friday, a move fuelled partly by an uptick in wholesale beef prices, traders said. The morning’s wholesale choice beef price, or cutout, rose 64 cents per hundredweight (cwt) from Thursday to $231.53. Select cuts gained 29 cents to $223.89, the U.S. Department of […] Read more
U.S. livestock: Strong cash prices lift CME live cattle
Chicago | Reuters –– Chicago Mercantile Exchange (CME) live cattle futures closed sharply higher Thursday, pushed up by short-covering in response to higher-than-expected prices for slaughter-ready or cash cattle, traders said. Cash cattle in Texas and Kansas moved at $148 per hundredweight (cwt), up $3 from a week ago, according to feedlot sources (all figures […] Read more
U.S. livestock: Profit-taking halts CME feeder cattle rally
Chicago | Reuters — Chicago Mercantile Exchange feeder cattle futures closed sharply lower on Wednesday, pressured by profit-taking that ended the market’s run of six straight sessions at new highs. “It doesn’t surprise me that futures would take a breather after going up so fast,” a trader said. Futures were also overpriced based on CME’s […] Read more
U.S. livestock: CME feeder cattle touch new highs as supplies tighten
Chicago | Reuters –– Chicago Mercantile Exchange feeder cattle futures on Tuesday hit a new high for a sixth straight session, driven by a shortage of calves for fattening after several years of drought in the U.S. hurt crops, traders said. However, sufficient grazing pastures now are allowing ranchers to nourish animals to heavier weight […] Read more
Canadian Cattlemen Presents: Depth of Field
