Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange lean hog futures recovered from contract lows on a round of technical buying on Tuesday, traders said. Traders also noted the recent declines may spark interest in the export market. “U.S. pork has become some of the cheapest in the world and it would appear we’re indeed starting […] Read more
U.S. livestock: Hog futures rebound on technical bounce
Chicago cattle futures firm
Canola fund short position grows
Funds also net short in U.S. wheats
Reading Time: < 1 minute MarketsFarm — The managed money net short position in canola grew in early May as fund traders were busy liquidating long positions and moving more money to the short side of the market, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May 2, the net […] Read more
U.S. grains: Chicago soy dips, corn flat as planting progresses
No agreement yet to extend Ukrainian export shipping
Reading Time: 2 minutes Mexico City | Reuters — Chicago soybeans ended down and corn was flat on Monday, as U.S. planting progressed ahead of last year and uncertainty over whether Ukraine’s safe shipping agreement for grain exports will be extended with the deal set to expire on May 18. Corn, one of the crops exported out of Ukraine, […] Read more
U.S. livestock: Hog futures extend losing streak
Feeder cattle turn higher on bargain buying
Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange lean hog futures fell for the fourth straight session on Monday, with the most-active June contract hitting a new low, with traders focused on cash market weakness and light demand for pork. In CME cattle futures, feeder cattle contracts rebounded from six straight losing sessions on some bargain […] Read more
U.S. grains: Chicago grains end week up as no new Black Sea ships authorized
Markets also have eye toward U.S. crop report
Reading Time: 2 minutes Mexico City | Reuters — Chicago grains and soy ended the week higher on Friday as hopes dimmed for the renewal of a U.N.-brokered deal allowing the safe Black Sea exports of Ukraine grain. Ukraine, Russia, Turkey and the United Nations failed to reach an agreement to authorize any new vessels to carry out Black […] Read more
U.S. livestock: Weak pork demand knocks lean hogs to contract lows
June live cattle up; feeder cattle down
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange lean hog futures sank to contract lows on Friday on concerns over anemic U.S. demand for pork, analysts said. The dramatic price decline fueled projections among traders that hog farmers may reduce their herds, after losing money for months on each pig they raise. Farmers are grappling with […] Read more
U.S. livestock: CME feeder cattle stumble to three-week low
June live cattle, lean hogs also lower
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange feeder cattle futures slumped to their lowest price in more than three weeks on Thursday, while live cattle futures also eased. Traders said the markets were overbought and pressured by technical selling and long liquidation, after feeder cattle set contract highs last month and front-month live cattle futures […] Read more
Feed weekly outlook: Futures pressure Canadian prices
Some buyers still seeking coverage
Reading Time: 2 minutes MarketsFarm — Prices for feed grains in Western Canada continue to ease off, but seasonal activity isn’t the only reason contributing to the declines. Erin Harakal, trade manager at Agfinity Inc. at Stony Plain, Alta., said futures markets are also playing their part in pressuring feed grain prices. “Especially with the wheat markets due to […] Read more
U.S. grains: Chicago wheat up on Black Sea deal doubts
Cancelled China sales weigh on corn prices
Reading Time: 2 minutes Mexico City | Reuters — Chicago wheat hit a one-week high and closed up on Thursday as markets cautiously eye developments on the Black Sea grains corridor following a wave of fresh tensions between Russia and Ukraine. Corn clawed back some ground lost early in the day to close nearly flat after news of cancelled […] Read more
U.S. livestock: CME live cattle extend setback to six-week low
Lean hogs follow cattle futures lower
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle futures tumbled to a six-week low on Wednesday, extending a setback from an all-time high last month as technical selling and long liquidation hit the market, brokers said. Losses in equities also pressured cattle futures amid concerns that weakness in the U.S. economy could depress demand […] Read more
A message from April Stewart, Country Guide's Associate Editor
