For the week ending August 17, Western Canadian feeder cattle prices were $3-$5 lower on average. Three weeks ago, 1,000 pound steers off grass reached up to $340/cwt. This past week, these same cattle were quoted in the range of $315-$325/cwt.
Chicago Mercantile Exchange (CME) live cattle futures bounced back on Monday after a slow previous week, while feeder cattle futures dipped on corn's Chicago Board of Trade (CBOT) climb.
Chicago soybean futures rallied on Monday, recovering from nearly four-year lows as traders waited to see if a major field tour this week will support expectations of bumper U.S. yields.
Chicago Mercantile Exchange (CME) live and feeder cattle futures fell in a spate of range-bound trading on Friday, with back-month feeder contracts setting new lows as funds shed their positions, traders said.
Chicago Board of Trade soybeans and corn futures turned lower on Friday, with both also notching a third weekly loss, as farmers kept clearing out their grain bins ahead of a U.S. harvest that is forecast to see massive yields, traders said.
Chicago Mercantile Exchange (CME) live and feeder cattle futures eased on Thursday, as generally quiet cash market and a strengthening U.S. dollar left cattle futures in a range-bound trade, traders said.
Chicago Board of Trade wheat futures ended lower on Thursday as cheap Black Sea exports kept weighing on the market, which had risen overnight on a rally sparked by a Russian attack on Ukrainian port infrastructure.
Chicago Mercantile Exchange (CME) cattle futures rose on Wednesday on technical buying and increasing beef demand ahead of the upcoming U.S. Labor Day holiday, analysts said.
Chicago soybean futures lost more ground on Tuesday, setting another four-year low a day after U.S. Department of Agriculture data reinforced the prospect of a bumper U.S. harvest.