Chicago Mercantile Exchange (CME) livestock futures turned higher on Friday, as cattle futures rebounded from recent sharp drops in pricing amid a flurry of fund selling.
Chicago Mercantile Exchange (CME) livestock futures turned lower on Thursday, with cattle futures slumping amid a flurry of fund selling and weakening wholesale pricing, traders said.
Chicago Mercantile Exchange live cattle futures were mixed on Wednesday, and feeder cattle turned lower, as the U.S. dollar continued to recover and livestock traders remained uneasy about the health of the global economy, market analysts said.
For the week ending August 3, Western Canadian feeder cattle prices were relatively unchanged from seven days earlier. Strong buying interest continued on yearlings straight off grass; however, the “just get’em” type orders that were evident a week earlier now had limits. More cattle will come available in August and buyers are being more patient to see how the market develops.
Chicago Mercantile Exchange live cattle and lean hog futures stabilized on Tuesday after sliding during the previous session on fears that the U.S. may be headed for a recession.
Chicago Mercantile Exchange (CME) cattle futures plunged sharply on Friday, with back-month feeder cattle contracts setting new lows, as signs of a weakening U.S. economy spurred market participants to unwind long positions and seek cover, traders said.
Chicago Mercantile Exchange (CME) cattle futures turned lower on Thursday, with the most-active feeder cattle contract FCU24 falling more than two per cent, amid a flurry of fund selling and signs of weakening consumer demand.
Chicago Mercantile Exchange (CME) lean hog futures firmed on technical trading and weaker wholesale prices on Wednesday, while live cattle futures ended lower on a day of choppy trade, market analysts said.
Chicago Mercantile Exchange (CME) live and feeder cattle futures turned higher on Tuesday as the cash cattle market remained strong, while lean hogs turned lower as traders anticipated slowing ham sales.
The year-over-year decline in last year’s calf crop has caused the market to set new records. Larger finishing feedlots are setting the price structure as many of these lots have seasonal low inventory. The quality of yearlings coming off grass is excellent with buyers shopping for feed efficiencies.