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 Board of Trade wheat and soybean futures fell sharply on Monday, with wheat at a near two-month low as fund selling pressure rolled into a short holiday trading week, traders 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.
Chicago wheat futures Wv1 fell for an eighth day on Friday for their lowest close in a month after Turkey said it would halt wheat imports in a blow to the global demand outlook.
Chicago Board of Trade corn Cv1 and soybean Sv1 futures rose on Thursday as news of tighter rules on industry tax credits in Brazil made traders and producers hopeful that it could boost U.S. export business, traders 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.
Wheat prices led the way as the July Chicago contract fell 46 cents per bushel at US$4.46. The July Kansas City hard red wheat contract dropped 43.5 cents at US$6.7625/bu., while the July Minneapolis spring wheat contract lost 39.5 cents at US$7.1250/bu.
Chicago benchmark wheat Wv1 futures fell on Wednesday for the sixth day in a row, as progress in the U.S. winter harvest weighed on prices and concerns eased over the Russian crop, traders said.