Chicago | Reuters — Chicago Mercantile Exchange live cattle futures eased on Monday on profit-taking and technical selling, although losses were limited by firm wholesale beef prices and the discount of futures to cash prices, traders said. April live cattle closed down 0.425 cent/lb. to 115.55 cents, slipping below the contract’s 50-day moving average around […] Read more
Tag Archives beef prices — page 9
U.S. livestock: Live cattle sink on technical selling
Klassen: Healthy margins drive feeder complex
Western Canadian feeder cattle markets traded steady to $5 higher compared to week-ago levels. Buyers were quite meticulous on flesh levels and quality features in the heavier weight categories; however, feedlot operators were definitely more aggressive this week. Major operations have liquidated a fair amount of fed cattle and these players are anxious to reload […] Read more
Klassen: Fed cattle uncertainty restricts upside in feeders
Western Canadian feeder cattle were actively trading $3-$5 higher compared to week-ago levels. Order buyers felt like they were groping in the dark but realized there was a fair amount of buying interest by the week’s end. Alberta and Ontario orders were floating aggressively into Manitoba and eastern Saskatchewan, which kept the market flat across […] Read more
Klassen: Feeder cattle prices lukewarm on mixed factors
Western Canadian feeder cattle markets were steady to $2 higher compared to week-ago levels. All weight classes experienced lukewarm buying interest, despite improving margins in the feedlot sector. Most auction barns experienced minimal numbers; cow-calf producers are holding back on sales hoping for stronger values and extreme cold temperatures hindered cattle movement, especially in the […] Read more
U.S. livestock: Cattle gain on bargain-buying
Chicago | Reuters — Chicago Mercantile Exchange live and feeder cattle futures gained about one per cent on Monday, rebounding from earlier losses on support from a round of bargain buying, traders and analysts said. Feeders fell to a 3-1/2-week low before reversing higher, while live cattle tested Friday’s multiweek low and then turned higher […] Read more
Klassen: Feeder cattle market stable for year end
Western Canadian feeder cattle prices traded steady with week ago levels. The winter storm forecasted over the holiday season had little influence on buyer behaviour. Limited volumes were noted at most auction barns with many off for the holiday season. However, the market appeared to hold value with feedlot margins in positive territory and surprisingly […] Read more
Klassen: Feeder cattle resume upward trend
Western Canadian feeder cattle prices resumed the upward trend after a brief dip during the first major snowstorm of the year. Feeder cattle weighing above 750 lbs. traded $2-$4 above week-ago levels while calves were readily selling for $4 to as much as $8 higher. Optimism abounds in the feedlot sector, as Alberta fed cattle […] Read more
Klassen: Positive margins support feeder cattle market
Alberta packers were buying fed cattle at $150 this past week, which was $5 above breakeven pen closeout values. This rally in the fed cattle market was a long time coming and renewed optimism surged across the Prairies. Feeder cattle prices traded $3-$5 above week-ago levels, with lighter calves leading the charge higher. Fierce competition […] Read more
U.S. livestock: Cattle fall as beef prices tumble
Chicago | Reuters — U.S. live cattle futures fell the most in 1-1/2 weeks on Wednesday in a selloff linked to lacklustre demand from meat packers and government data that showed the lowest wholesale beef prices in four years, traders said. Feeder cattle futures dropped the most so far this month while lean hogs declined […] Read more
Klassen: Feeder market drops on fed cattle weakness
Alberta packers were buying fed cattle in the range of $128-$130 this past week — the lowest levels since December 2013 and down nearly $18 from a month ago. Weekly beef production continues to defy expectations, bludgeoning feeding margins across the Prairies. Western Canadian feeder cattle markets were quick to respond, trading $8-$10 below week-ago […] Read more
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