When top U.S. meat packer Tyson Foods abruptly announced it would stop buying cattle fed with a widely used drug that can add more than 30 pounds to the average steer, the implications for markets were clear: less meat, higher prices. Tyson, which buys about one in four of all U.S. cattle for slaughter, says […] Read more
Tyson takes lead with Zilmax ban, higher beef prices may follow
U.S. live cattle futures slip on profit-taking
Chicago Mercantile Exchange live cattle futures on Friday dipped on profit-taking, a day after surging to a three-month high after Tyson Foods said it would no longer buy cattle given the feed additive Zilmax, traders and analysts said. In a letter to feedlot operators, Tyson Foods, the country’s largest meat processor, said it will suspend […] Read more
Tyson ban drives Chicago cattle futures to three-month high
Chicago Mercantile Exchange live cattle futures on Thursday hit a three-month high fueled by speculation that beef prices could rise after Tyson Foods said it would no longer buy cattle given the feed additive Zilmax. In a letter, Tyson Foods, the country’s largest meat processor, notified all feedlot operators it would suspend Zilmax-fed cattle purchases […] Read more
Tyson to suspend buying cattle fed Zilmax
Tyson Foods, the largest U.S. meat processor, said it would suspend purchases of cattle fed the growth enhancer Zilmax, saying it was worried about cases of cattle with difficulty walking although it did not know the specific cause of problem. Rumours of Tyson’s action sparked a sharp rally in Chicago Mercantile Exchange cattle futures on […] Read more
CME hog futures slump amid profit-taking
Chicago Mercantile Exchange hog futures settled lower on Wednesday as traders took profits in anticipation of cash hog and wholesale prices peaking soon, traders and analysts said. Spot August hogs finished nearly in line with CME’s lean hog index, which was at 100.71 cents. The spot month eased from a new contract high on Wednesday […] Read more
Higher cash hog, pork prices lift CME hog futures
Chicago Mercantile Exchange hog futures on Tuesday rose for the fifth straight session helped by higher prices for cash hogs and wholesale pork, traders and analysts said. U.S. Department of Agriculture data showed the average hog price Tuesday afternoon at the closely-watched Iowa/Minnesota market at $100.61 per hundredweight (cwt), up 85 cents from Monday (all figures […] Read more
LIVESTOCK: U.S. hog futures jump with pork prices
Chicago Mercantile Exchange hogs closed higher on Friday as strong pork prices lifted futures for a third straight session, traders and analysts said. Friday morning’s USDA mandatory wholesale pork price report, or cutout, was $103.67 per hundredweight (cwt). The price surged $2.89 from Thursday to its highest since $104.86 on July 9. Tight supplies of […] Read more
LIVESTOCK: Cheaper corn hits U.S. live cattle futures
Chicago Mercantile Exchange live cattle slumped on Thursday as eroding corn prices stirred selling that trumped initial speculative buying, traders and analysts said. “Usually when you have back-month futures higher than the front contract, the thing that will hurt the most is if corn gets cheaper,” KIS Futures vice-president Lane Broadbent said. Less-costly corn might […] Read more
LIVESTOCK: U.S. hog futures lifted by higher cash hog, pork prices
Chicago Mercantile Exchange hog futures rallied on Wednesday driven by higher cash hog and wholesale pork prices, analysts and traders said. The U.S. Department of Agriculture data showed the average hog price Wednesday morning at the most-watched Iowa/Minnesota market at $98.66 per hundredweight (cwt), up $2.80 from Tuesday. Wednesday morning’s USDA mandatory wholesale pork price […] Read more
LIVESTOCK: Lower cash prices sink U.S. hog futures
Chicago Mercantile Exchange hog futures fell on Tuesday in anticipation of lower-trending cash hog prices caused by packers working to improve operating, analysts and traders said. The U.S. Department of Agriculture data showed the average hog price Tuesday afternoon at the most-watched Iowa/Minnesota market at $95.78 per hundredweight (cwt), down 48 cents from Monday. Some […] Read more
Canadian Cattlemen Presents: Depth of Field
