GFM Network News


U.S. livestock: Cattle futures drift lower on beef demand worries

Hog futures down off Monday's rally

Reading Time: < 1 minute Chicago | Reuters — Live cattle futures on the Chicago Mercantile Exchange (CME) fell on Tuesday for a second straight session on weak wholesale beef prices and worries about consumer demand, given uncertainty about the health of the U.S. economy, traders said. CME August live cattle futures settled down 0.85 cent at 98.8 cents/lb. and […] Read more

U.S. livestock: Hogs up on pork demand, export optimism

Feeder cattle up on lower corn prices

Reading Time: 2 minutes Chicago | Reuters — U.S. hog futures rose on Monday on signs of improving demand for pork products and optimism about export demand from China as the Asian country struggles with renewed outbreaks of a hog disease, traders said. Chicago Mercantile Exchange (CME) August lean hog futures settled up 1.4 cents at 51.275 cents/lb., after […] Read more


China’s slower meat imports seen worsening its protein shortage

Reading Time: 2 minutes Beijing | Reuters — China’s dwindling pace of meat imports, thanks to its tough measures against coronavirus contamination, will provide further support for prices already buoyed by a severe shortage of pork, analysts said. Purchases of pork and other meats have soared this year after domestic production shrank 30 per cent following an outbreak of […] Read more

U.S. livestock: Live cattle jump to two-month high

Lean hogs up on bargain buying

Reading Time: 2 minutes Chicago | Reuters — U.S. live cattle futures on Monday reached a two-month high on follow-through buying from last week, while lean hog futures edged up on bargain buying, traders said. Cattle futures are extending a recovery after recently regaining a premium over cash prices, traders said. Technical buying helped support the futures market even […] Read more


U.S. senators question packers over exports to China during pandemic

USDA shows record pork exports to China in April, raising questions about rising U.S. meat prices

Reading Time: 2 minutes Chicago | Reuters — Two prominent U.S. Senate Democrats are pressing America’s top meatpackers to disclose by month’s end how much pork, beef and chicken they shipped to China during the coronavirus outbreak while warning of possible meat shortages at home. The request from Senators Elizabeth Warren and Cory Booker increases scrutiny of companies such […] Read more

Hog sector hit hard by pandemic

Market weakness seen likely to push some farmers out of business

Reading Time: 2 minutes MarketsFarm — COVID-19 has hit the hog sector hard, with the double-edged sword of large supplies and reduced demand weighing heavily on the market. “The prospect of profitability at current forward prices and at current cash prices is nil… and there’s really no prospect of making anything this year,” said Tyler Fulton, director of risk […] Read more


U.S. livestock: Lean hog futures down on large supplies

CME August cattle also close lower

Reading Time: < 1 minute Chicago | Reuters — U.S. lean hog futures extended a decline on Thursday under pressure from large supplies and rebounding pork production, analysts said. Traders expect meat packers to have ample hogs to slaughter after livestock backed up on farms when processing plants temporarily closed in April and May because of COVID-19 outbreaks among meatpacking […] Read more

U.S. livestock: Live cattle down as slaughter recovers, beef prices sag

Hog futures mostly up on technical buying

Reading Time: 2 minutes Chicago | Reuters — U.S. live cattle futures fell on Friday, pressured by softening prices for market-ready cattle and declining packer profit margins as wholesale beef prices continue to slide, analysts said. Chicago Mercantile Exchange (CME) June live cattle futures settled down 1.825 cents at 93.9 cents/lb. and benchmark August fell 1.75 cents at 96.175 […] Read more


Pork packer considering Moose Jaw’s ex-beef plant

Donald's Fine Foods announces 'feasibility study'

Reading Time: 2 minutes A potential buyer’s study could soon show whether a former beef packing plant in southern Saskatchewan has the bones to support a pork processing operation for cull sows. Richmond, B.C.-based Donald’s Fine Foods, which since 2010 has operated the Thunder Creek Pork hog plant at Moose Jaw, announced last week it plans to run a […] Read more

China tells state firms to halt purchases of major U.S. farm products

Purchases of soybeans, pork, corn, cotton on hold

Reading Time: 2 minutes Beijing/Singapore | Reuters –– China has told state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, after Washington said it would eliminate special treatment for Hong Kong to punish Beijing. Large-volume state purchases of U.S. corn and cotton have also been put on hold, […] Read more