Chicago | Reuters — The number of cattle placed into U.S. feedlots last month declined four per cent from a year ago to their lowest level for October since the government began tabulating the data in 1996, a U.S. Department of Agriculture report showed on Friday. October’s placement results nearly matched forecasts by analysts, who […] Read more
Tag Archives cattle prices — page 18
U.S. feedlot cattle placements hit nearly 20-year low
Klassen: Feedlots curb buying interest
Despair is the price one pays for setting an impossible aim. Given the phone calls over the past week, producers have been expecting something the market cannot offer. Western Canadian feeder cattle prices were under severe pressure, with 700-plus-pound cattle down $8-$12 from seven days earlier; calves under 700 lbs. traded $4-$8 below week-ago levels. […] Read more
Klassen: Quality calves support feeder market
They say a sudden windfall can provide a false expectation of future performance. This is definitely true of the cattle feeding business. Western Canadian feeder cattle prices continued on a mixed volatile tone over the past week, trading $10 lower to as much as $10 higher. Feedlot operators shrugged off the sharply lower live cattle […] Read more
Klassen: Feeder market stronger but volatile
The Western Canadian feeder cattle market appeared to gain momentum this week. Feeder cattle prices were extremely volatile compared to last week trading $5 lower to as much as $10 higher in the Eastern Regions. When April live cattle futures were higher, the bids flowed more aggressively but on days when the futures struggled, buyers […] Read more
Klassen: Live cattle futures lead feeder market higher
Western Canadian feeder cattle prices continued to climb last week for the second week in a row, as feedlot buying interest absorbed larger available supplies. Calves over 600 lbs. and yearlings were $3-$6 above week-ago levels on average while calves under 600 lbs. traded $5-$10 higher. Weakness in the Canadian dollar enhanced demand from south […] Read more
Klassen: Feeder cattle prices stabilize
Western Canadian feeder cattle prices stabilized over the past week, trading $5 to $8 higher in comparison to seven days earlier. In Manitoba and eastern Saskatchewan, calves traded up $10 to $15 higher largely due to a resumption in U.S. buying interest. The market was functioning to encourage demand, and with prices $25 to $30 […] Read more
Cattle futures recover, but aren’t about to jump over the moon
CNS Canada — Cattle markets have seen recovery after taking a nosedive in earlier sessions, but prices likely won’t revisit summer highs, according to one analyst. After hammering sharply lower, Chicago Mercantile Exchange live cattle futures saw recovery on Friday, and extended gains into Monday. As of 2 p.m. CT on Monday, spot December live […] Read more
U.S. livestock: CME live cattle limit up on strong cash prices
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures climbed sharply on Friday, with October settling up the three cents per pound daily price limit, ignited by short-covering after initial cash prices beat expectations. Spot October closed at 135.95 cents/lb. and December rose 2.875 cents, to 139.425 (all figures US$). Live cattle’s trading limit […] Read more
PM Beef to shut Minnesota plant, cites tight cattle supply
Reuters — PM Beef will close its southwestern Minnesota beef processing plant on Dec. 11, due to tight cattle supplies, the company said Tuesday. The company announced the Windom plant’s closure to employees and owners during meetings Monday, according to local media. Prices for slaughter cattle last year hit record highs in the wake of […] Read more
Klassen: Feeder cattle market remains under pressure
Western Canadian feeder cattle prices traded $3 to $7 lower in comparison to week-ago levels as the market continues to digest the weaker fed market and softer wholesale beef values. Feedlot operators were more cautious, realizing the current prices don’t pencil profitably, while the deferred live cattle futures dropped like a power window. Financial risk […] Read more
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