Chicago Mercantile Exchange (CME) cattle futures turned lower on Thursday, with the most-active feeder cattle contract FCU24 falling more than two per cent, amid a flurry of fund selling and signs of weakening consumer demand.
Chicago Mercantile Exchange (CME) lean hog futures firmed on technical trading and weaker wholesale prices on Wednesday, while live cattle futures ended lower on a day of choppy trade, market analysts said.
Chicago December corn futures settled below $4 and hit a contract low on Wednesday as favorable U.S. crop prospects weighed and farmers began selling their hefty supplies of old crop corn, traders said.
Chicago Mercantile Exchange (CME) live and feeder cattle futures turned higher on Tuesday as the cash cattle market remained strong, while lean hogs turned lower as traders anticipated slowing ham sales.
The year-over-year decline in last year’s calf crop has caused the market to set new records. Larger finishing feedlots are setting the price structure as many of these lots have seasonal low inventory. The quality of yearlings coming off grass is excellent with buyers shopping for feed efficiencies.
Chicago soybean prices plunged on Monday to the lowest since October 2020, as forecasts for rain in the U.S. crop belt alleviated concerns over the potential impact on crop yields from hot and dry weather.
Chicago Mercantile Exchange (CME) livestock futures turned lower on Monday, as cattle futures fell on signs of profit taking, a steady cattle cash market and uncertainty about consumer demand for beef this fall, market analysts said.
Chicago Board of Trade soybean and corn futures plunged on Friday but were set for weekly gains, as weather forecasts indicated positive news for crops in the central United States.
Chicago Mercantile Exchange (CME) cattle futures ticked up Friday on steep losses in the U.S. grains market, while lean hogs mostly firmed on short-covering, analysts said.
Chicago Mercantile Exchange (CME) lean hog futures ticked up on technical trading on Wednesday, while cattle futures were mixed to lower, analysts said.