Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle contracts hit a one-month high on Friday, driven by fund buying and short-covering, said traders. Futures’ discounts to this week’s better-than-anticipated cash prices generated more buying. June closed 3.4 cents/lb. higher at 130.825 cents, and August 1.35 cents higher at 126.05 cents (all figures US$). Live […] Read more
U.S. livestock: CME live cattle climb to one-month top
U.S. livestock: CME live cattle limit down on profit-taking
Reading Time: 2 minutes Chicago | Reuters –– Chicago Mercantile Exchange nearby live cattle futures on Friday finished down their three-cent daily price limit, hit by profit-taking after spiking this week to new highs, said traders. Friday was the first of five days that funds in CME’s livestock markets that track the Standard + Poor’s Goldman Sachs Commodity Index […] Read more
U.S. livestock: Cattle rise as cash prices surge
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle surged to contract highs on Thursday and closed up the daily limit in most contacts on stronger-than-expected cash markets and robust demand for beef, traders said. The front-month contract hit a 13-month peak as the market closed higher for the fifteenth time in 16 sessions. April […] Read more
U.S. livestock: Strong beef demand lifts live cattle to one-year high
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle on Tuesday spiked to their highest since mid-April 2016, driven by improved wholesale beef demand that may underpin cash prices this week, said traders. They said profit-taking pulled back-month futures down from new contract highs achieved earlier in the session. April live cattle closed 0.35 cent/lb. […] Read more
U.S. livestock: Funds, beef demand fuel CME live cattle rally
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle futures finished sharply higher on Tuesday, driven by fund buying and brisk wholesale beef demand, said traders. They said deferred-month contracts’ discounts to this week’s expected cash prices provided additional market support. February live cattle, which expired at noon CT, closed 1.225 cents/lb. higher at 126.6 […] Read more
Klassen: Feeder cattle prices climbing
Reading Time: 2 minutes Western Canadian feeder cattle markets were trading $5-$7 above week-ago levels, with higher-quality cattle trading as much as $10 higher. It’s difficult to quarrel with one’s bread and butter; feedlot margins are now in positive territory and cattle feeders are keen on ownership with the positive outlook into the March timeframe. Feature presort calf sales […] Read more
Klassen: Feeder cattle markets establish fundamental equilibrium
Reading Time: 2 minutes Western Canadian feeder cattle markets were relatively unchanged from week-ago levels as most auction barns held featured or pre-sort calf sales. However, premiums of $3 to as much as $8 were noted on pre-conditioned, quality-weaned replacements. Time in the market is more important than timing the market; longer term risk adverse feeding reinforced the fact […] Read more
Klassen: Feeder market bounces off the lows
Reading Time: 2 minutes Western Canadian feeder cattle markets experienced a week-over-week gain of $5 to $8. Strength in live cattle futures, along with the weaker Canadian dollar, rejuvenated buying interest amongst feedlot operators across the Prairies. Alberta packers were buying fed cattle in the range of $222 to $227 on a dressed basis, which was also up $2 […] Read more
Cargill profit jumps on beef demand, grain margins
Reading Time: 2 minutes Reuters — Global commodities trader Cargill reported a sharply higher quarterly net profit on Tuesday, helped by rising beef demand and stronger grain trading and processing margins. The privately held company’s net income rose 66 per cent to $852 million in the first quarter ended Aug. 31 from $512 million a year earlier (all figures […] Read more
Klassen: Feeder market drops on fed cattle weakness
Reading Time: 2 minutes Alberta packers were buying fed cattle in the range of $128-$130 this past week — the lowest levels since December 2013 and down nearly $18 from a month ago. Weekly beef production continues to defy expectations, bludgeoning feeding margins across the Prairies. Western Canadian feeder cattle markets were quick to respond, trading $8-$10 below week-ago […] Read more
A message from April Stewart, Country Guide's Associate Editor
