Chicago Mercantile Exchange cattle futures turned lower on profit-taking on Wednesday, even as rising wholesale beef prices and a firming cash market continued to offer support to the market, traders said.
Tag Archives feeder cattle — page 21
U.S. livestock: Cattle futures lower, hogs mixed on technical trading
Traders expect this week's prices in cash market to be higher than last week
Klassen: Canadian feeder market jumps on USDA data
The U.S. cattle herd reached lowest head count since 1950s, trade anticipates heifer retention
For the week ending February 2, Western Canadian feeder cattle prices were up $6/cwt to $12/cwt from seven days earlier. Certain pockets of Western Canada had grass cattle trading $12/cwt to as much as $20/cwt above the previous week.
U.S. livestock: CME cattle futures turn lower on profit-taking
Lean hogs also turn lower after recent rally faced fundamental resistance
Chicago Mercantile Exchange cattle futures ended the day lower on Monday, as market participants sought to take profits after live cattle futures hit a nearly three-month high in the previous session, traders said.
Klassen: Positive fed outlook buoys feeder market
Market telling producers to own lighter cattle sooner rather than later
Western Canadian feeder cattle prices for 800-pound plus cattle were $2/cwt to $4/cwt higher on average for the week ending January 27. Feeders in the 500-800-pound category were up $3/cwt to $6/cwt with higher quality groups up as much as $10/cwt in some cases. Feeders 500 pounds and lower were unchanged from seven days earlier.
U.S. livestock: CME cattle futures ease on profit-taking after 2-1/2-month peak
Lean hog futures ended modestly higher; firm cash hog prices lent support
CME April live cattle futures LCJ24 settled down 0.450 cent at 181.225 cents per pound, retreating after rising to 183.450 cents, the contract's highest point since Nov. 7. Last week's firm cash cattle prices and technical buying underpinned the market, traders said.
Klassen: Feeder market holds value despite negative margins
U.S. demand limited with colder temperatures in Midwest
Calf markets appeared to trade $2 to $3 above week-ago levels on average. Feedlot margins on current pen close-outs are negative $300 to $350 per head but replacement markets haven’t missed a beat. Finishing feedlots were once again bidding aggressively on backgrounded cattle with fleshier types experiencing limited slippage. Larger pen sized groups were on the higher end of the priced spectrum with buyers avoiding smaller packages.
U.S. livestock: Cattle, hogs sag as traders track US slaughtering
Data largely neutral for cattle futures, analysts say
Chicago Mercantile Exchange cattle futures eased on Friday as the market retreated from November highs, and hog futures also closed lower.
U.S. livestock: Follow-through buying carries CME cattle to eight-week highs
Cattle lighter after severe winter weather traders say
Chicago Mercantile Exchange cattle futures stormed to their highest levels in about eight weeks on Thursday amid follow-through buying, traders said.
U.S. livestock: Cattle futures hit November highs as traders focus on harsh US winter
Lean hogs ended slightly up after early plunge
Chicago Mercantile Exchange cattle futures touched their highest prices since November on Wednesday after severe winter weather has slowed weight gains for livestock and disrupted slaughtering, analysts said.
Klassen: Yearling return to the lineup on strong demand
Frigid temperatures result in limited volumes
The market hasn’t missed a beat and started the year where it left in December. The only difference is there are larger supplies of yearlings coming on stream. The benchmark levels had backgrounded steers averaging 1,000 pounds trading from $280-$285/cwt with top bids rounding at $290/cwt. Steers averaging 850-pounds were averaging $300/cwt with top-notch larger groups peaking at $305.
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