Reading Time: 2 minutes Chicago/Reuters – Chicago Mercantile Exchange live cattle futures climbed higher on Wednesday, driven by short-covering and futures’ discounts to early-week cash prices, traders said. Buy stops and fund buying enhanced market advances, they said. August ended 1.725 cent per pound higher at 114.525 cents per pound, and October 1.800 cents higher at 114.675 cents. Both […] Read more
U.S. livestock: Live cattle futures climb on cash price discount
U.S. livestock: Higher beef price boosts CME live cattle futures
Reading Time: 2 minutes Chicago / Reuters – Chicago Mercantile Exchange live cattle futures on Tuesday recovered some of their recent losses, helped by the morning’s wholesale beef price turnaround, traders said. Buy stops and futures’ discounts to this week’s expected cash prices provided additional market support, they said. August ended 0.800 cent per pound higher at 112.800 cents […] Read more
U.S. livestock: End-of-month positioning pressures CME live cattle
Reading Time: 2 minutes Chicago / Reuters – Last Friday’s selling of Chicago Mercantile Exchange live cattle contracts carried over into Monday, led by sell-stops and position squaring on the last trading session of the month, traders and analysts said. Some investors sold August futures and simultaneously bought deferred contracts while cautiously awaiting this week’s cash prices. August ended […] Read more
U.S. livestock: Live cattle futures sag on cash prices, Japan news
Reading Time: < 1 minute Chicago / Reuters – Chicago Mercantile Exchange live cattle settled lower on Friday, weighed by weaker cash prices and word that Japan plans to hike tariffs on U.S. frozen beef, said traders. Japan will raise tariffs from August on imports of frozen beef from the United States to protect domestic producers, Japan’s Ministry of Finance […] Read more
U.S. livestock: Bargain buying strengthens live cattle futures
Reading Time: 2 minutes Chicago / Reuters – Chicago Mercantile Exchange live cattle closed steady to higher on Thursday, with support from bargain buying and futures’ discounts to initial cash prices, said traders. Investors bought deferred months and simultaneously sold August futures after digesting last Friday’s bearish U.S. Department of Agriculture cattle reports. August ended unchanged at 114.300 cents per […] Read more
U.S. livestock: Live cattle turn higher on futures’ cash discount
Reading Time: 2 minutes Chicago / Reuters – Chicago Mercantile Exchange live cattle contracts on Wednesday pared some recent losses, helped by bargain buying and futures’ discounts to early-week cash prices, said traders. Investors bought August futures and sold deferred months in a trading strategy known as bull spreads. August ended 1.125 cents per pound higher at 114.300 cents, […] Read more
U.S. livestock: Fund-selling extends CME live cattle futures losses
Reading Time: 2 minutes Chicago / Reuters – Chicago Mercantile Exchange live cattle futures closed lower on Tuesday, led by lingering bearishness from last Friday’s U.S. Department of Agriculture cattle reports, traders said. USDA’s reports suggested a supply buildup in the coming months, which dropped futures by their 3-cent per pound daily price limit on Monday. August ended 0.700 […] Read more
U.S. livestock: Live cattle plunge after USDA reports
Reading Time: 2 minutes Chicago / Reuters – Some Chicago Mercantile Exchange live cattle contracts settled down the 3.000-cent per pound daily price limit on Monday following Friday’s bearish U.S. Department of Agriculture cattle reports, said traders. Friday’s USDA monthly Cattle-On-Feed report showed the largest June cattle placements for the month in 11 years. The twice-yearly U.S. cattle inventory […] Read more
Olymel to expand Quebec sausage plant
Reading Time: 2 minutes Quebec meat packing firm Olymel is set to double the production space at the La Fernandiere sausage plant it bought last year at Trois-Rivieres. The company, an arm of major agrifood co-operative La Coop federee, announced plans to spend $8.1 million to double the plant’s area to over 45,000 square feet, setting up more space […] Read more
Olymel plans sausage production at Red Deer
Reading Time: 2 minutes New equipment and refrigerated storage are going into Olymel’s Alberta pork processing plant at Red Deer as the facility gets into the sausage business. Pork and poultry processor Olymel, owned mainly by Quebec agribusiness co-operative La Coop federee, announced Monday it will put up $2 million to convert a section of the Red Deer plant […] Read more
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