Chicago | Reuters – Chicago Mercantile Exchange lean hog futures fell on Thursday, pressured by declining demand and expectations of greater supplies of market-ready hogs heading into the fall, analysts said. “You had a cutout that took a big step back yesterday. You had export numbers that weren’t especially supportive this morning, and the fact […] Read more
Tag Archives cattle futures — page 4
U.S. livestock: CME lean hogs decline; cattle inches higher
U.S. livestock: Live cattle futures mixed; feeders boosted as corn slumps
Chicago | Reuters – Feeder cattle futures on the Chicago Mercantile Exchange Group (CME) ticked up again on Thursday, bolstered by continued weakness in corn futures Cv1, while live cattle futures were mixed on somewhat sluggish cash sales, analysts said. The U.S. Agriculture Department said on Thursday morning that export sales of beef rose to 21,400 […] Read more
U.S. livestock: Live cattle futures extend profit-taking slide
Chicago | Reuters – Live cattle futures on the Chicago Mercantile Exchange Group fell on Tuesday for a fourth session on profit-taking after last week’s contract highs, and a month-long slide in wholesale beef prices that erased meat packers’ profit margins, analysts said. CME August live cattle futures LCQ3 settled Tuesday down 0.450 cent at 178.300 cents […] Read more
US Livestock: live cattle rise on limited US supply, strong cash prices
Analysts suggest high prices, tight supply may drive meatpackers to cut hours
Chicago | Reuters – Chicago Mercantile Exchange live cattle futures extended gains on Tuesday on worries over limited U.S. supplies. Recent strength in cash prices for cattle helped to support futures, analysts said, after ranchers shrank their herds due to drought and high feed costs. Analysts said there is chatter in the market that high […] Read more
Klassen: Feeder market consolidates at historical highs
Higher borrowing costs offset lower feed prices
For the week ending Saturday, western Canadian yearling steer prices were quoted $2-$4 higher; yearling heifers traded $2 higher to $5 lower. Calves were relatively unchanged although volumes were limited. Larger groups of quality genetics were well bid while second tier cattle were marginally discounted off the highs. Some ranches are liquidating yearlings about one […] Read more
Klassen: Feeder cattle supplies remain snug
Feedlots expect significantly cheaper barley come harvest
Compared to last week, western Canadian feeder cattle markets traded $3-$4 on either side of unchanged. Premium low-flesh yearlings were one off bids $15-$20 above average. Cattle buyers commented that there were larger volumes of fleshier yearlings. Cattle with heavier butter levels were discounted from our listed values by $5 to as much as $10. […] Read more
Klassen: Positive feeding margins lift feeder complex
Futures continue percolating higher
Compared to last week, western Canadian yearlings traded steady to $5/cwt higher. Feeders in the 650- to 800-lb. category appeared to jump $4/cwt to as much as $8/cwt in some cases. Calves under 650 lbs. were up $5-$10/cwt. Alberta packers were buying fed cattle in southern Alberta on a live basis at $222/cwt f.o.b. the […] Read more
U.S. livestock: CME hog futures recover after ‘complete downhill slide’
Chicago | Reuters – Chicago Mercantile Exchange lean hog futures ended higher on Friday as the market recovered after sliding to life-of-contract lows this week. The market was due for a bounce as losses were overdone, brokers said. “We’ve been on just about a complete downhill slide,” said Karl Setzer, brokerage research lead at Mid-Co […] Read more
Klassen: Historically high deferred live cattle futures support feeder complex
Compared to last week, western Canadian feeder cattle markets traded $2 lower to $4 higher on average. Many auction barns were on holidays last week; therefore, the buying interest appeared to be more concentrated on the major markets. There were no reports from Manitoba last week. Alberta packers were buying fed cattle on a dressed […] Read more
U.S. livestock: Lean hog, live cattle futures sag in technical moves
Chicago | Reuters – Chicago Mercantile Exchange lean hog futures declined on Friday, with the benchmark December contract hitting a near three-week low in what appeared to be featureless technical selling, traders said. CME December hogs LHZ2 settled down 0.400 cent at 82.975 cents per lb after touching 82.825, the lowest since Oct. 17, and falling below […] Read more
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