GFM Network News

U.S. livestock: CME lean hogs sag on uncertainty over trade talks

Chicago | Reuters -- U.S. hog futures sagged on Wednesday for a third straight session on a perceived lack of progress in U.S. trade negotiations with key pork consumers China and Mexico, traders said. CME Group live cattle futures followed hogs lower, with burdensome supplies adding pressure. Most-active CME October lean hog futures settled down[...]

Mexico, Canada insist on three-way NAFTA deal

Mexico City | Reuters -- Canadian and Mexican officials insisted that the North American Free Trade Agreement remain a trilateral pact on Wednesday and reiterated their opposition to U.S. calls for a so-called "sunset clause" that could end the deal after five years. After a meeting in Mexico City, Canadian Foreign Minister Chrystia Freeland and[...]

U.S. livestock: Cash price uncertainty weakens CME live cattle

Chicago | Reuters -- Chicago Mercantile Exchange live cattle lost ground on Tuesday after investors exercised caution in advance of this week's prices for market-ready, or cash, cattle, said traders. There may have been some disappointment after initial bids for cash cattle came in below last week's sales, a trader said. On Tuesday packers had[...]

Mexico hits back on U.S. steel, slaps tariffs on pork, bourbon

Mexico City | Reuters -- Mexico responded in kind to U.S. President Donald Trump's metals tariffs by imposing its own duties on U.S. steel on Tuesday, while also targeting politically sensitive agricultural products from pork to bourbon. Mexico's peso tumbled to its weakest level since February 2017, leading losses among major currencies due to the[...]

U.S. livestock: CME hogs slump amid fund roll, NAFTA worries

Chicago | Reuters -- Chicago Mercantile Exchange lean hog futures finished lower on Friday, hit by the "roll" by funds into deferred months and uneasiness over North American Free Trade Agreement (NAFTA) talks, said traders. "NAFTA fears, Goldman roll and premiums to the cash prices. Everyone who bought futures this week decided to dump them[...]

TPP talks without U.S. near final stretch

Urayasu, Japan | Reuters -- The 11 remaining nations in the Trans-Pacific Partnership (TPP) without the United States edged toward sealing a comprehensive free trade pact after New Zealand agreed to amend laws that are not subject to TPP, to enable its ban on foreign home purchases. The pact aims to eliminate tariffs on industrial[...]

Britain reported looking to NAFTA if Brexit deal fails

London | Reuters -- Britain could join a formal trade alliance with the United States, Canada and Mexico if the European Union refuses to clinch a post-Brexit trade deal, the Daily Telegraph newspaper reported on Tuesday. The newspaper said British ministers were looking at joining the North American Free Trade Agreement (NAFTA) as part of[...]

U.S. Trade Representative says no deadline for NAFTA deal

Washington | Reuters -- U.S. Trade Representative Robert Lighthizer said on Wednesday there was no deadline for completing NAFTA trade talks between the United States, Canada and Mexico even as lawmakers warned that U.S. business would be hurt by prolonged negotiations. "There is no deadline. My hope is that we can get it done by[...]

Mexico will only stay in NAFTA if it suits it, minister says

Mexico City | Reuters -- A defiant Mexico said on Tuesday it would only stay in NAFTA if it suited it and rejected the imposition of any tariffs or quotas when renegotiating the trade deal U.S President Donald Trump wants to recast to benefit the United States. Trump has vowed to exit the North American[...]

Mexico eyes Brazil farm products as hedge on Trump threat

Brasilia | Reuters -- Amid trade tensions with the U.S., Mexico plans to send a delegation next month to visit Brazilian corn, beef, chicken and soy producers as an alternative to U.S. suppliers, its representative in Brazil said on Friday. Mexican charge d'affaires Eleazar Velasco said Brazil is uniquely positioned to expand agricultural commodity sales[...]