Reading Time: < 1 minute Chicago | Reuters — CME lean hog futures set a three-week low on Thursday, under pressure from losses in broader markets and following recent weakness in cash hog prices, analysts said. Feeder cattle futures also ended lower as the market pulled back one day after hitting a September high. Livestock markets took signals from a […] Read more
U.S. livestock: CME lean hogs touch three-week low
Most live cattle futures settle lower
U.S. livestock: CME hogs weaken, cattle rise as winter storms hit
Hogs touch lowest since Dec. 16
Reading Time: 2 minutes Chicago | Reuters — CME lean hog futures fell to their lowest price in more than two weeks on Wednesday and live cattle futures strengthened as snowstorms continued to disrupt livestock operations. Feeder cattle futures reached their highest price since September. Wintry weather in the northern U.S. Plains has delayed livestock shipments, reduced cattle weights […] Read more
McDonald’s reported set to exit Kazakhstan on Russia war spillover
Reading Time: < 1 minute Reuters — McDonald’s Corp. is set to abandon Kazakhstan as disruptions triggered by the Ukraine crisis have left the nation without a substitute for Russian meat supplies, Bloomberg News reported Wednesday, citing people familiar with the matter. The fast-food giant, which exited Russia in May, banned its local franchisee from procuring meat patties from Russian […] Read more
U.S. livestock: CME cattle, hog futures near two-week lows in broad selloff
Boxed beef values limit losses in cattle
Reading Time: < 1 minute Chicago | Reuters — CME Group livestock futures hit their lowest prices in about two weeks on Tuesday on profit-taking and widespread selling that dragged down commodity and financial markets, analysts said. Traders booked profit in live cattle after the most-active contract reached a fresh high on Thursday, brokers said. Benchmark CME February live cattle […] Read more
Klassen: Feeder market to start 2023 on firm tone
Counter-seasonal behaviour expected
Reading Time: 2 minutes There were no market reports last week due to the holiday season; however, I still received a few calls from cattle producers regarding the feeder market outlook for the first quarter of 2023. The feeder market finished 2022 at 52-week highs. Steers averaging 500 lbs. were readily trading over the psychological $300 level while 900-lb. […] Read more
U.S. livestock: CME futures ease on profit-taking, feed prices
Smaller cattle supplies remain a concern
Reading Time: 2 minutes Chicago | Reuters — CME livestock futures eased back on Friday, as traders sought profits after cattle futures hit new contract highs in the previous session and on pressure from a run-up in grains, traders said. U.S. livestock markets will be closed Monday for the New Year holiday. On Tuesday, the markets will pre-open at […] Read more
U.S. livestock: CME live cattle futures hit new highs on tight supplies
Technical selling drags on hogs, again
Reading Time: < 1 minute Chicago | Reuters — CME live cattle futures and several deferred feeder cattle futures hit new contract highs on Thursday, as shrinking weights of market-ready cattle and concerns over smaller supplies helped fuel a price rally, traders said. Ongoing concerns over the recent severe winter storm impacting the livestock sector across the U.S. Great Plains […] Read more
Klassen: Historically high deferred live cattle futures support feeder complex
Reading Time: 2 minutes Compared to last week, western Canadian feeder cattle markets traded $2 lower to $4 higher on average. Many auction barns were on holidays last week; therefore, the buying interest appeared to be more concentrated on the major markets. There were no reports from Manitoba last week. Alberta packers were buying fed cattle on a dressed […] Read more
U.S. livestock: CME live cattle futures ease, supplies in focus
Hog futures down on technical selling
Reading Time: 2 minutes Chicago | Reuters — CME live cattle futures eased on Wednesday, after moving higher in the previous session, as traders watch for smaller supplies of market-ready cattle moving through the system, traders said. Snow and ice across the U.S. Great Plains last week will likely also reduce supply, shrinking weights of market-ready cattle. “The recent […] Read more
U.S. livestock: CME live cattle futures climb on tight supplies
Supply report also bullish for hog futures
Reading Time: 2 minutes Chicago | Reuters — CME live cattle futures firmed on Tuesday, supported by lower cattle supplies and the impact of cold weather on cattle weights, traders said. Winter weather last week across the U.S. Great Plains likely caused cattle to lose weight amid snow and below-freezing temperatures, said Brad Kooima, commodity broker at Kooima Kooima […] Read more
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