GFM Network News

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U.S. livestock: Cattle futures hit near two-month high as cash markets firm

Chicago | Reuters – Chicago Mercantile Exchange cattle futures rose for the third day in a row on Wednesday, nearing a two-month high on signs of improving cash markets. Traders also said a stepped-up pace of slaughter in recent days indicated demand for beef remains high. CME lean hog futures closed lower, with the front-month […] Read more

Security wear face masks at the Greeley, Colorado, JBS USA meat packing plant where two staff members had died of COVID-19, April 8, 2020.   Photo: REUTERS/Jim Urquhart/File Photo

Coronavirus infections at U.S. meat plants far higher than previous estimates, House subcommittee hears

Cases and deaths from COVID-19 among workers at the leading U.S. meatpacking plants were three times as high as previously estimated, according to a report by the House Select Subcommittee on the Coronavirus Crisis seen by Reuters. The subcommittee surveyed major meatpackers Tyson Foods, JBS USA, Cargill, National Beef , and Smithfield Foods, which together control over 80 percent […] Read more

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Bunge raises 2021 profit outlook on higher food, renewable fuel demand

Bunge Ltd reported stronger-than-expected third-quarter results and raised its full-year profit outlook on Wednesday for a third time this year amid improved demand for food and renewable fuel as pandemic restrictions have eased. Although volumes in the U.S. agricultural commodities trader’s core agribusiness and its refined and specialty oils units were down, robust oilseed processing […] Read more

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U.S. livestock: Cattle futures extend rally; hog contracts weaken

Chicago | Reuters – Chicago Mercantile Exchange cattle futures rose to their highest in more than seven weeks on Tuesday, with traders noting follow-through buying after the market rallied on Monday. Concerns about supplies and strength in the cash market underpinned cattle futures. CME December live cattle futures settled up 1.925 cents at 131.45 per […] Read more

Marie-Claude Bibeau speaks during a sitting of the House of Commons in May 2020.  Photo: REUTERS/Blair Gable

Bibeau keeps role as federal ag-minister, Canada gets a new environment minister

Canada’s 44th Parliament was sworn in today in a ceremony at Rideau Hall in Ottawa. Prime Minister Justin Trudeau shuffled a number of his ministers from their previous roles, and today’s cabinet shuffle is a result of the federal election held on Sept. 20. Marie Claude-Bibeau maintains her role as federal Minister of Agriculture, a […] Read more