Chicago | Reuters — Chicago Mercantile Exchange live cattle futures firmed on Tuesday as supplies tighten, with beef packer margins falling into the negative for the first time in years, traders said. Beef packers lost $14.35 per head on Tuesday, compared to earnings of $1.60 a day earlier and $18.40 the week before, according to […] Read more
Tag Archives Pork — page 15
U.S. livestock: Live cattle firm as packer margins turn negative
Lean hog futures settle lower
U.S. livestock: Hog futures firm on technical buying
Cattle futures close mostly lower
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures firmed for the second day in a row on Thursday, with technical buying supporting prices following the market’s bounce from a 10-month low on Wednesday, traders said. CME December lean hog futures settled up 1.275 cents at 77.775 cents/lb. (all figures US$). Front-month October hogs […] Read more
U.S. livestock: CME hogs up off 10-month low on bargain-buying
Live cattle also up on technical buying
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures closed higher on Wednesday on bargain buying, a day after the benchmark December contract fell to a 10-month low, traders said. CME December lean hog futures settled up 2.075 cents at 76.5 cents/lb. (all figures US$). Front-month October hogs ended up 3.8 cents, at 90.8 […] Read more
U.S. livestock: CME cattle, hogs up on technical buying, short-covering
Recession worries still loom large
Chicago | Reuters — Chicago Mercantile Exchange live cattle, feeder cattle and lean hog futures strengthened on Monday on technical buying and short covering, after recent selloffs were overdone, brokers said. Concerns about the risks for a global recession, which could reduce demand for beef, continued to hang over livestock markets, brokers said. Wall Street […] Read more
U.S. livestock: CME live cattle lower, underpinned by tight supply
October lean hogs also lower
Chicago | Reuters — Benchmark live cattle futures on the Chicago Mercantile Exchange eased on Friday, pressured by softening cash trade across the U.S. Plains, though markets remain supported by tightening supplies as producers continue to liquidate their herds, analysts said. “Our short-term supply issues are still front and centre. We’re running two-three per cent […] Read more
U.S. livestock: CME December hogs ease
U.S. hog herd shrinks; cattle futures firm
Chicago | Reuters — Benchmark December lean hog futures on the Chicago Mercantile Exchange eased on Thursday ahead of the U.S. Agriculture Department’s quarterly hog and pigs report, released after the market closed. CME October hogs firmed 0.75 cent at 89.45 cents/lb., but most-active December hogs fell 0.1 cent to 75.725 cents/lb. (all figures US$). […] Read more
Smithfield Foods to pay US$75 million in pork price-fixing settlement
Follows similar settlement by JBS
Reuters — Smithfield Foods has agreed to pay US$75 million to settle a lawsuit by consumers who accused the meat producer and several competitors of conspiring to inflate prices in the $20 billion-a-year U.S. pork market by limiting supply. A preliminary settlement in the antitrust case was filed on Tuesday night with the federal court […] Read more
U.S. livestock: CME December hogs extend slide on long liquidation
Cattle futures down on demand concerns
Chicago | Reuters — Benchmark December lean hog futures on the Chicago Mercantile Exchange continued their slide on Wednesday, hitting a nine-month low on recession worries and long liquidation. CME October hogs ended up 0.675 cent at 89.375 cents/lb. (all figures US$). But most-active December hogs fell 0.425 cent to settle at 75.825 cents/lb. after […] Read more
U.S. livestock: CME hogs tumble to nine-month low on recession fears
Chicago live cattle end mixed
Chicago | Reuters — Benchmark December lean hog futures on the Chicago Mercantile Exchange fell for a fifth consecutive session on Tuesday, touching a nine-month low as fears of a recession hurting consumer demand for meat triggered another round of long liquidation, traders said. Sliding prices for cash hogs and wholesale pork added to bearish […] Read more
U.S. livestock: CME live cattle, lean hogs slide on recession worries
Feeder cattle up on lower corn prices
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures fell to their lowest level since early August on Friday on fears of a global recession that could curb demand for commodities including beef, traders said. CME October live cattle settled down 0.6 cent at 144.25 cents/lb. and the most-active December contract fell 0.8 cent […] Read more
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