Reading Time: 2 minutes Sydney | Reuters — Australia raised its forecast for beef exports by 20 per cent on Tuesday as drought conditions worsened by an El Nino weather pattern force farmers in the world’s third-largest exporter to maintain near-record slaughter rates. Beef exports are expected to total 1.225 million tonnes in the crop year to July 1, […] Read more
Australia lifts beef export forecast as El Nino bites
Klassen: Feeder cattle market momentum eases
Reading Time: 2 minutes The upward momentum in the feeder cattle complex appears to have subsided over the past week. Western Canadian prices were relatively stable with week-ago levels but there were cases of quality yearling packages (800-plus lbs.) trading $2 to $4 higher. Excellent pasture conditions and optimal weather have delayed feature sales this year in the eastern […] Read more
U.S. livestock: Short-covering pares early CME live cattle losses
Reading Time: 2 minutes Chicago | Reuters –– Chicago Mercantile Exchange live cattle closed higher on Monday after short-covering trumped follow-through selling that initially pressed futures to a 15-month low, traders said. Spot-October closed up 0.875 cent/lb. at 141.475 cents, and December was 0.8 cent higher at 143.175 cents (all figures US$). October was further supported by fewer cattle […] Read more
U.S. livestock: Drops in cash, beef prices topple CME live cattle futures
Reading Time: 2 minutes Chicago/Reuters – Chicago Mercantile Exchange live cattle futures at one point on Friday matched their 15-month low, responding to slumping prices for wholesale beef and market-ready, or cash, cattle, traders said. Spot-October closed down 2.350 cents per lb to 140.600 cents, and December was 2.325 cents lower at 142.375 cents. This week, cash cattle in […] Read more
U.S. livestock: CME live cattle fade with cash price hopes
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle posted modest losses on Thursday in anticipation of possibly lower prices for market-ready, or cash, cattle on Friday, traders said. Spot-October closed down 0.025 cent/lb. to 142.95 cents, and December 0.375 cent lower at 144.7 (all figures US$). Cash bids in Nebraska surfaced at $139-$140/cwt against […] Read more
U.S. livestock: Profit-taking trims CME live cattle gains
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle closed lower on Wednesday, after profit-taking and cash price uncertainty turned back initial advances, traders said. Spot-October closed 0.5 cent/lb. lower at 142.975 cents, and December dropped 0.7 cent to 145.075 (all figures US$). Packers have not bid for market-ready (cash) cattle priced at $146/cwt in […] Read more
Klassen: Feeder cattle market firm, erratic
Reading Time: 2 minutes Western Canadian feeder cattle prices were generally stronger this past week, with increased volatility at the higher price levels. Larger volumes were noted in Alberta, while Saskatchewan and Manitoba auction markets have yet to come on in full force. Buyers were more finicky in regards to quality features, causing some of the diverse price action. […] Read more
U.S. livestock: CME live cattle limit up on short-covering
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle nearby trading months settled up their three-cent-per-pound daily price limit on Tuesday, partly fuelled by short-covering and futures’ discounts to last week’s cash prices, traders said. October and December live cattle ended at 143.475 and 145.775 cents, respectively (all figures US$). CME’s live cattle trading limit […] Read more
Canada losing bluetongue-free status
Reading Time: 4 minutes New findings of bluetongue in cattle in Canada — outside the one area of the country where the virus previously gained a toehold — have trading partners shutting their ports to Canadian livestock genetics and animals. Three cattle from one farm in southwestern Ontario’s Chatham-Kent municipality have now tested positive for bluetongue serotype 13 — […] Read more
U.S. livestock: CME live cattle, hogs retreat before holiday
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle slumped on Friday before the Labour Day holiday, due to lower prices for market-ready (cash) cattle, traders said. CME live cattle were further weakened by Wall Street’s tumble on uncertainty whether the Federal Reserve will raise rates by mid-September. October live cattle ended down 1.125 cents/lb. […] Read more
A message from April Stewart, Country Guide's Associate Editor
