Reading Time: 2 minutes Chicago/Reuters – Chicago Mercantile Exchange lean hogs finished higher on Thursday, with strength from bargain buying prior to what turned out to be a neutral U.S. government hog report after futures closed, said traders. The U.S. Department of Agriculture’s quarterly hog report showed a record-large March 1 herd, with most of the data close to […] Read more
U.S. livestock: Hog prices rally on bargain buying before USDA report
Klassen: Feeder cattle continue upward trend
Reading Time: 2 minutes Western Canadian feeder cattle prices traded $3-$5 above week-ago levels with lighter weight categories selling $6 to $8 higher. Alberta packers were buying fed cattle in the range of $286 to $288 on a dressed basis, up from $278 last week. This equates to $172-$174 on a live basis, a solid $35 above break-even pen […] Read more
JBS weighs suspending U.S. IPO
Reading Time: 2 minutes Sao Paulo | Reuters — Brazil’s JBS SA, the world’s biggest meatpacking company, will decide in coming days whether to suspend listing its overseas operations after a corruption scandal, newspaper Folha de S. Paulo said Monday. A person involved in the deal told Reuters last week JBS had no intention of delaying the US$1 billion […] Read more
‘Operation Weak Flesh’ takes bite out of Brazil’s meat exports
Reading Time: 2 minutes Sao Paulo | Reuters –– Brazil’s meat exports have fallen sharply since a police investigation into alleged bribery of food-sanitation inspectors in the world’s top beef and poultry exporter sparked a wave of trade bans, an industry group said on Friday. Import restrictions by several key importers of Brazilian meat, ranging from China to Europe, […] Read more
JBS suspends Brazil beef output amid import bans
Reading Time: < 1 minute Sao Paulo | Reuters — Brazil’s JBS SA, the world’s biggest meatpacking company, announced on Thursday it had suspended beef production at 33 of its 36 Brazilian plants amid the corruption scandal that has caused some of the country’s biggest export markets to ban Brazilian meats. Agriculture Minister Blairo Maggi said a police investigation, which […] Read more
Beef makes the cut as Australia, China move to boost trade
Reading Time: 2 minutes Sydney | Reuters — Australia and China are expected to sign new bilateral agreements on beef exports, energy and security during a four-day visit by Chinese Premier Li Keqiang that began on Thursday. Li, the first sitting Chinese premier to visit Australia in 11 years, was welcomed to parliament in Canberra by Prime Minister Malcolm […] Read more
Brazil fears lost market share for meat industry
Reading Time: < 1 minute Brasilia | Reuters — Brazil’s meatpacking industry has been badly damaged by a police investigation into alleged unsanitary and corrupt practices, and could lose upward of 10 per cent of its global market share, Agriculture Minister Blairo Maggi said Wednesday. Maggi told a Senate committee that the main concern was with the China and Hong […] Read more
Klassen: Feeder cattle continue upward trend
Reading Time: 2 minutes Western Canadian feeder cattle prices traded $3-$5 above week-ago levels with higher-quality cattle as much as $8 higher. Once again, stronger fed cattle prices and healthy feedlot margins were the main factors driving the market, especially in the heavier weight categories. Feedlots have liquidated a larger amount of fed cattle over the few weeks and […] Read more
U.S. Catholics allowed corned beef on Paddy’s Friday
Reading Time: 2 minutes Chicago | Reuters — In recent weeks, the U.S. meat industry has found itself wrestling with a culinary conundrum: Would American Roman Catholics be able to eat corned beef this St. Patrick’s Day? Traditionally in the U.S., the Feast of St. Patrick — a celebration of Irish culture, and renowned for all things green — […] Read more
Klassen: Feeder cattle jump on healthy margin structure
Reading Time: 2 minutes Western Canadian feeder cattle jumped $3-$5 on average last week, with 800-plus-lb. yearlings trading as much as $8 higher. Historically high finishing margins finally resonated with feedlot operators and a precarious attitude from recent weeks was thrown by the wayside. Order buyers were inundated with interest as bids were relatively firm across the Prairies. Adverse […] Read more
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