Chicago Mercantile Exchange lean hog futures turned lower on Thursday, ahead of a quarterly government report that many traders had predicted would show that U.S. farmers had a slightly larger hog herd, traders said.
The U.S. Department of Agriculture will soon begin compensating dairy farmers for the loss of milk supply due to bird flu-infected cows, the agency said on Thursday.
Chicago Mercantile Exchange lean hog futures turned higher on Wednesday as fund investors adjusted their positions and sought short-covering, even as many contracts set new lows for a second trading day, traders said.
A last-ditch attempt by EU governments to break a deadlock over relaxing regulations on gene-edited crops failed after countries including Poland rejected changes to the text that exempted patented seeds from the measure.
Chicago Board of Trade (CBOT) soybean and corn futures fell on Tuesday as traders assessed the impact of flooding and heat on crops in the central U.S.
Livestock farmers in the U.S. would have a clearer path to bringing antitrust complaints against meatpacking companies for unfair business practices under a rule proposed by the U.S. Department of Agriculture on Tuesday.
Analysts surveyed by Reuters project that quarterly USDA data will show the herd on June 1 was about 0.8 per cent bigger than a year earlier and that the number of pigs per litter was up 2.3 per cent in the March-May period.
The U.S. Food and Drug Administration has begun testing more dairy products for evidence of the bird flu virus as outbreaks spread among dairy herds across the country.
Denmark, a major pork and dairy exporter, will introduce a tax on livestock carbon dioxide emissions from 2030, making it the first country to do so and hoping to inspire others to follow, the government said on Tuesday.