GFM Network News


U.S. livestock: Live cattle futures rise on new-month buying

Hogs mostly down on concerns over supplies, demand

Chicago | Reuters — U.S. live cattle futures closed higher on Wednesday on what appeared to be technical and speculative buying at the start of a new month and quarter, analysts said. Yet the benchmark August live cattle contract on the Chicago Mercantile Exchange remained rangebound, with rallies capped by weak beef prices as slaughterhouses […] Read more

U.S. livestock: Cattle futures drift lower as corn prices soar

Wholesale beef prices show signs of stabilizing

Chicago | Reuters — U.S. cattle futures closed modestly lower on Tuesday, pressured by a surge in Chicago Board of Trade (CBOT) corn futures that is likely to squeeze profit margins for livestock producers, traders said. “The rise in feed costs changes the dynamics in the industry. It cuts into profits — or in the […] Read more



Given the sharp increase of wholesale costs, retailers probably won’t be putting beef on sale any time soon.

Don’t expect steak sales for Father’s Day

Price impacts of COVID-19 on the beef industry were wide spread and retailers are still feeling the pinch

This Father’s Day, people probably won’t see sales on their favourite beef steaks—but they shouldn’t blame the butcher or retailer. Blame sits almost entirely on the coronavirus. COVID-19 had a catastrophic impact on beef production in North America. The spread of the virus resulted in several plant shutdowns or slowdowns, which in turn meant significantly […] Read more


U.S. livestock: Cattle futures end lower ahead of weekend

CME lean hogs mostly up

Chicago | Reuters — U.S. live cattle futures retreated on Friday in a profit-taking and technical selling setback ahead of the weekend amid weakening beef prices and concerns about lower-than-normal summer demand as much of the economy remains partially closed. Lean hog futures clawed back earlier losses to end mostly higher as an early drop […] Read more

Being on the cusp of grilling season, the timing could not be worse.

COVID-19’s continuing chaos

Prime Cuts with Steve Kay

As I write this on April 6, the April live cattle futures contract here in the U.S. has closed down its 450-point extended daily limit for the fourth day in a row. The contract closed at US$83.82 per cwt, thus losing 1,800 points in those four days. In contrast, the contract settled on February 21 […] Read more


U.S. livestock: Live cattle end mostly lower as beef prices ease

June hogs up, August lower

Chicago | Reuters — U.S. live cattle futures closed mostly lower on Thursday as wholesale beef prices began to retreat from historic highs as the U.S. slaughter pace improved, generating more meat supplies, analysts said. Chicago Mercantile Exchange (CME) August live cattle futures settled down 1.425 cents at 97 cents/lb. (all figures US$). Front-month June […] Read more

U.S. livestock: Lean hog futures dip after belly prices dive

Cattle down on ideas of beef prices peaking

Chicago | Reuters — U.S. lean hog futures fell on Wednesday on technical selling and signs that wholesale pork prices may have peaked after a massive run-up due to closings at meat-packing plants as COVID-19 sickened workers, traders said. The U.S. pork cutout value fell on Tuesday afternoon by nearly $9/cwt, to $112.82, with pork […] Read more


U.S. livestock: June live cattle limit up on soaring beef prices

Large supplies of hogs, cattle still loom over futures

Chicago | Reuters — U.S. live cattle futures closed higher on Tuesday, with nearby contracts rising the daily maximum, as surging wholesale beef prices and expectations U.S. beef and pork production would drop spurred speculative buying, traders said. Chicago Mercantile Exchange (CME) June live cattle futures settled up 4.5 cents, the expanded daily limit, at […] Read more

U.S. livestock: Cash cattle, futures up on beef packer scrutiny

Profit-taking continues to drag on lean hogs

Chicago | Reuters — U.S. live cattle futures rose on Friday along with cash prices as the federal government probed the beef market. The price of cattle in the cash market has rebounded since U.S. President Donald Trump on Wednesday said he had urged the federal Justice Department to look into allegations that the meatpacking […] Read more