Chicago | Reuters — CME Group plans to resume its listing schedule for live cattle futures and options contracts, effective Feb. 18, the exchange said in a statement Wednesday. CME said it will post the June 2017 live cattle futures and options contract that was originally scheduled to be listed on Jan. 4. The exchange […] Read more
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New further-month live cattle futures, options to resume
Canada, Mexico granted COOL retaliation power
Canada and Mexico may now impose retaliatory tariffs against U.S. goods at will over Washington’s country-of-origin labelling (COOL) rules — just in time for the process of erasing those rules to begin. U.S. President Barack Obama late Friday signed the Consolidated Appropriations Act of 2016, an omnibus bill approving funding for various government agencies and […] Read more
Mexico halts bid for COOL retaliation
Mexico City | Reuters — Mexico has halted a bid to impose retaliatory trade measures on the U.S. over meat labeling rules after U.S. lawmakers repealed them this week, a Mexican government official said. Mexico had announced earlier this month it would start internal procedures to strip benefits from some U.S. agricultural and industrial imports, […] Read more
U.S. livestock: CME live cattle rally limit-up before report
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures settled up by their three-cent/lb. price limit Friday, driven by short-covering and technical buying, traders said. Investors tweaked positions ahead of Friday’s U.S. Department of Agriculture monthly Cattle on Feed report at 2 p.m. CT. Spot December ended at 120.15 cents, and February 125.525 cents, […] Read more
U.S. Congress repeals COOL on beef, pork
The U.S. Senate and House of Representatives have both approved a repeal of the government’s six-year old mandatory country-of-origin labelling (COOL) laws on beef and pork. Tucked into an omnibus appropriations bill put before Congress Friday, the repeal shuts the door on a major irritant in North American trade relations and is expected to curb […] Read more
Canada not yet pulling trade trigger on COOL
Canada remains “cautiously optimistic” that the U.S. government will repeal its country-of-origin labelling (COOL) law before the Canadian and Mexican governments impose retaliatory tariffs. Federal Trade Minister Chrystia Freeland, speaking Wednesday from Nairobi on a conference call with reporters, said she was “not going to go into hypotheticals” about Canada’s next move if an omnibus […] Read more
Clock ticking to avoid North American food fight
Winnipeg | Reuters –– The North American spat pitting Canada and Mexico against the U.S. over meat labels has sown confusion among producers and shippers in all three countries, with a trade war potentially just weeks away. The World Trade Organization on Monday authorized Canada and Mexico, the biggest markets for exported U.S. goods, to […] Read more
Trudeau says prefers to avoid COOL retaliation on U.S.
Ottawa | Reuters –– Prime Minister Justin Trudeau said Wednesday he would prefer not to apply sanctions against the U.S. over a meat labeling dispute, but at the same time warned that he would stand up for Canada’s farmers. Earlier this week, the World Trade Organization authorized an annual retaliation level of $1.055 billion for […] Read more
U.S. livestock: COOL news weighs on CME live cattle, hogs
Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures fell on Monday, partly led by the World Trade Organization’s (WTO) ruling against the U.S. in a meat-labeling dispute, said traders. Canada and Mexico may impose tariffs worth $1 billion onto U.S.-traded products, a WTO panel ruled on Monday, as the countries prepared to retaliate […] Read more
WTO dials back Canada’s COOL retaliation
Canada will be able to take only about a third of the revenge it asked the World Trade Organization to authorize over the United States’ country-of-origin labelling (COOL) law. An arbitration panel of the WTO’s Dispute Settlement Body (DSB) ruled Monday that Canada and Mexico may now ask the DSB to authorize annual retaliatory tariffs, […] Read more
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