Chicago Mercantile Exchange (CME) cattle futures were mixed on Thursday, with nearby live cattle contracts ticking higher amid signs of strength in the cash market and consumer demand staying firm, market analysts said.
Chicago Mercantile Exchange (CME) cattle futures turned lower on Tuesday, as a lack of fundamental news and limited trading in the cash cattle market had price drifting down from the recent rally, traders said.
Western Canadian feeder cattle markets were quoted $5 lower to $5 higher on average in the week ending June 15. However, quality packages of yearlings traded $5 to as much as $10 above week-ago levels
Lean hog futures rallied at the Chicago Mercantile Exchange on Monday, as news of a China-EU trade dispute gave contracts a psychological boost, even though it is unlikely to give U.S. producers a new edge, traders and market analysts said.
Chicago Mercantile Exchange live cattle futures ended mixed on Friday as wholesale beef price firmed and packer margins improved, but traders remain concerned that cash market values may be near a seasonal peak, analysts said.
Live cattle and feeder cattle futures closed mostly lower at the Chicago Mercantile Exchange on Thursday as slow sales of beef products such as hamburgers and steak weighed on prices, Altin Kalo, economist at Steiner Group, said.
Lean hog futures closed at their lowest price since January at the Chicago Mercantile Exchange on Wednesday as traders focused on a potential oversupply of U.S. pork heading into the summer barbecue season.
Lean hog futures dropped to their lowest price since January at the Chicago Mercantile Exchange on Tuesday as weakness in the Mexican peso fueled worries over demand in the biggest export market for U.S. pork, traders said.
For the week ending June 1, Western Canadian feeder cattle markets were relatively unchanged compared to the previous week. It’s that time of year when volumes are limited and the market can be quite variable from region to region.
Chicago Mercantile Exchange (CME) lean hog futures ticked down on Monday as the Mexican peso fell, making it more expensive for Mexican importers to purchase U.S. pork.