Chicago Mercantile Exchange (CME) livestock futures turned higher on Friday, as cattle futures rebounded from recent sharp drops in pricing amid a flurry of fund selling.
The Canadian Beef Advisors, comprised of national beef organizations, is celebrating achieving many of the goals in the 2020-24 National Beef Strategy.
Chicago Mercantile Exchange (CME) livestock futures turned lower on Thursday, with cattle futures slumping amid a flurry of fund selling and weakening wholesale pricing, traders said.
Chicago Mercantile Exchange live cattle futures were mixed on Wednesday, and feeder cattle turned lower, as the U.S. dollar continued to recover and livestock traders remained uneasy about the health of the global economy, market analysts said.
For the week ending August 3, Western Canadian feeder cattle prices were relatively unchanged from seven days earlier. Strong buying interest continued on yearlings straight off grass; however, the “just get’em” type orders that were evident a week earlier now had limits. More cattle will come available in August and buyers are being more patient to see how the market develops.
Chicago Mercantile Exchange live cattle and lean hog futures stabilized on Tuesday after sliding during the previous session on fears that the U.S. may be headed for a recession.
China's eastern Shandong province reported five people were infected with anthrax and a beef cattle farm was shut after an outbreak was discovered in the agricultural province.
The CFIA will no longer require three determinations of unconsciousness previously mandated for ritually slaughtered animals after a recent federal court ruling. Jewish organizations and companies had appealed the Canadian Food Inspection Agency (CFIA) regulations in court, claiming they made kosher slaughter difficult, which resulted in a disruption in supply of kosher meat in Canada.
Chicago Mercantile Exchange (CME) cattle futures plunged sharply on Friday, with back-month feeder cattle contracts setting new lows, as signs of a weakening U.S. economy spurred market participants to unwind long positions and seek cover, traders said.
Chicago Mercantile Exchange (CME) cattle futures turned lower on Thursday, with the most-active feeder cattle contract FCU24 falling more than two per cent, amid a flurry of fund selling and signs of weakening consumer demand.