Chicago soybean futures rose on Tuesday ahead of a meeting between a coalition of oil and biofuel groups and the U.S. Environmental Protection Agency to discuss raising federal mandates for biomass diesel blending.
For the week ending March 29, Western Canadian feeder cattle markets traded $5/cwt lower to $5/cwt higher compared to seven days earlier. The price structure was largely determined by the crowd's mindset regarding potential U.S. tariffs.
Chicago Mercantile Exchange (CME) cattle futures fell on Monday on technical trading, according to analysts, while lean hogs were stuck trading within a tight range following the U.S. Department of Agriculture's hogs and pigs report released the previous week.
Chicago Mercantile Exchange (CME) cattle futures on Friday ended lower on technical trading, amid concerns about inflation and potential trade retaliation from broad tariffs promised by U.S. President Donald Trump next week, market analysts said.
JBS, the world's largest meatpacker, said cattle remain scarce and expensive in the U.S., dampening the outlook of its beef business in the country where the company derives most of its sales.
For the week ending March 22, Western Canadian feeder cattle markets traded steady to $5 higher on average. Higher quality strings under 600 pounds traded $5 to as much as $10 higher in some cases but the lighter weight categories were quite variable across the Prairies.