In the week ending May 25, Western Canadian feeder cattle markets were trading $4 to $8 higher compared to seven days earlier. Some higher quality genetic packages of 700-pound plus cattle were up as much as $10 from week-ago levels.
Chicago Mercantile Exchange live cattle futures ended mixed on Friday, amid growing uncertainty over packer interest after the U.S. Memorial Day holiday weekend, traders said.
Chicago Board of Trade wheat futures closed nearly flat on Friday but rose seven per cent for the week as concerns grew over crop losses in Russia and other exporting countries.
Chicago Board of Trade wheat futures extended gains on Thursday after reaching a 10-month peak a day earlier, as lingering dryness and worries over the Black Sea crop continued to underpin the market.
Chicago Mercantile Exchange lean hog futures slumped to a February low on Thursday under pressure from solid U.S. production and weaker cash prices, traders said.
Chicago Mercantile Exchange live and feeder cattle futures rallied on Wednesday amid expectations of strength in the cash markets, while lean hog futures faced continued pressure from data showing that U.S. packers are processing a glut of pork, analysts said.
Planting of the spring wheat in the United States continues to be off to an excellent start, according to Tom Lilja of Progressive Ag in Fargo. Meanwhile, the heavy rains that fell as of May 21 are very likely to lead to less corn being seeded with U.S. farmers switching to soybeans.
Chicago Board of Trade wheat futures climbed to a 10-month peak on Wednesday as worries grew about deteriorating harvest prospects in top exporter Russia, before the market turned lower.
Chicago Mercantile Exchange lean hog futures dropped to their lowest level since February under pressure from solid U.S. production on Tuesday, while live cattle futures reached their highest price since March, analysts said.
Chicago Board of Trade wheat futures Wv1 reached their highest level since July on Tuesday as frost damage in top-exporter Russia and lower U.S. crop ratings supported prices, traders said.