Chicago | Reuters — Chicago Mercantile Exchange lean hog futures closed higher on Wednesday, helped by modest cash and wholesale pork price gains, said traders. Investors unwound some of Tuesday’s long CME live cattle short lean hog spreads that, along with buy stops and speculative buying, sent some deferred hog contracts to new highs. December […] Read more
U.S. livestock: CME hogs rise on firmer cash, pork prices
U.S. livestock: Cash price optimism buoys CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle closed sharply higher on Tuesday, spurred by short-covering in anticipation of steady-to-better cash prices later this week, said traders. Fund buying contributed to advances after some contracts topped technical resistance levels on their way to new highs. October live cattle, which will expire on Oct. 31, […] Read more
U.S. livestock: Profit-taking, cash prices drop CME hogs
Chicago | Reuters — Chicago Mercantile Exchange lean hogs closed lower on Monday, pressured by profit-taking following the morning’s cash price drop, traders said. December hogs finished 1.325 cents/lb. lower at 63.525 cents, and February ended 0.875 cent lower at 68.225 cents (all figures US$). Some investors sold futures after analysts predicted a 480,000-plus head […] Read more
U.S. September cattle placements surge
Chicago | Reuters — Ranchers in September drove 13.5 per cent more cattle into U.S. feedlots than the same month a year earlier, the U.S. Department of Agriculture reported on Friday. The result topped analysts’ average forecasts and hit its highest level for the month in six years. “The good news for the consumer is […] Read more
U.S. livestock: CME live cattle rise before USDA report
Chicago | Reuters — Chicago Mercantile Exchange live cattle closed higher on Friday, helped by short-covering and positioning before the U.S. Department of Agriculture’s monthly Cattle on Feed report on Friday at 2 p.m. CT, said traders. They said that with December futures slated to be the new lead month following October’s expiration, investors periodically […] Read more
U.S. livestock: CME hogs hit two-month high
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures rose on Thursday, hitting their highest level in two months led by steadily climbing prices for market-ready, or cash, hogs as packers competed for supplies, said traders. December hogs finished 0.5 cent/lb. higher at 64.250 cents, and February ended 0.475 cent higher at 68.475 cent […] Read more
U.S. livestock: Strong cash prices lift CME hogs
Chicago | Reuters — Chicago Mercantile Exchange lean hogs on Wednesday shrugged off some of Tuesday’s declines, helped by short-covering and rising prices for slaughter-ready, or cash, hogs, said traders. December futures led advances after investors bought that contract and simultaneously sold deferred months in a trading strategy known as bull spreads. Fund buying developed […] Read more
USDA plan to axe livestock pricing rule divides producers
Chicago | Reuters — The U.S. Department of Agriculture (USDA) in a filing on Tuesday said it will dismantle Obama-era rules for buying and selling livestock, a move that has divided the U.S. meat industry. U.S. Agriculture Secretary Sonny Perdue withdrew an interim final rule and a proposed regulation of the Farmer Fair Practices Rules […] Read more
U.S. livestock: CME live cattle mostly weaker on consolidation
Chicago | Reuters — Most Chicago Mercantile Exchange live cattle contracts landed in modestly bearish territory on Friday amid pre-weekend consolidation after investors digested this week’s cash prices, said traders. “The market is priced right with this week’s cash. We’ll wait until next week to see if packers are short on supplies or need cattle,” […] Read more
U.S. livestock: CME live cattle slump, cash prices disappoint
Chicago | Reuters –– Chicago Mercantile Exchange live cattle on Thursday reversed some of their recent gains, pressured by profit-taking following this week’s initial cash prices that fell short of expectations, said traders. To avoid cattle deliveries, some investors sold the October contract either outright or simultaneously bought deferred months in a trading strategy known […] Read more
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