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.
Alberta and Saskatchewan heifer placements in the lighter weight categories are down from year-ago levels. Comments from ranchers and order buyers suggest that Western Canadian ranchers are holding back on heifers to expand the herd. This usually results in a narrowing of the steer/heifer spread.
Chicago Board of Trade (CBOT) soybeans rose on Monday as flooding hit the upper Midwest after a weekend of thunderstorms. Corn fell on acreage expectations ahead of a USDA report on Friday and wheat was down with analysts citing U.S. harvest pressure.
Chicago Mercantile Exchange (CME) nearby cattle future contracts turned higher on Monday as stronger-than-expected domestic seasonal demand and firm prices in the cash market gave futures a boost, market analysts said.
Chicago Board of Trade soybean futures strengthened on Friday as some weather models showed heavy rain putting certain U.S. production areas at risk of flooding, though they closed down for the week.
Chicago Mercantile Exchange (CME) feeder cattle futures turned lower and live cattle were mixed on Friday, as traders squared positions ahead of a closely-watched monthly feedlot report and anticipated smaller cattle placements, traders said.
Chicago Board of Trade corn slid on Thursday while soybeans closed at their lowest in two months as forecasts for heavy rains alleviated concerns about a heat wave in the central U.S. stressing crops.
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 Board of Trade corn and soybean futures turned higher on Tuesday, reversing direction after a two-day slide, as investors tracked a heat wave moving across the eastern Corn Belt after the government reported a decline in U.S. crop ratings.
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.