Strength in cash markets caused live and cattle futures on the Chicago Mercantile Exchange to rise on Thursday, despite low export numbers reported by the United States Department of Agriculture.
Cattle futures on the Chicago Mercantile Exchange made substantial gains on Wednesday, aided by a weaker United States dollar. The August live cattle contract gained US$2.600 per hundredweight and ended the day at US$212.350. The August feeder cattle contract rose by a similar amount, gaining US$2.650/cwt. to close at US$303.875. The United States Department of
Cattle prices on the Chicago Mercantile Exchange slipped back on Tuesday despite earlier gains. The August live cattle contract rose to US$212.850 per hundredweight during the day, but eventually closed at US$209.750, a loss of US$1.250 compared to Monday’s close. The August feeder cattle contract also reached its highest price since May 13 at US$304.550/cwt.
For the week ending May 31, Western Canadian feeder cattle markets traded steady to as much as $10 lower on average. Dryer grass conditions in certain regions of Manitoba and central and northern Saskatchewan may have contributed to the softer tone at certain locations. Many feedlot operators continue to sit on their hands for the
A mission representing the U.S. Department of Agriculture (USDA) will travel to Mexico in the coming days, Mexico's agriculture ministry said on Tuesday, and could then lift its suspension of Mexican cattle imports.