GFM Network News

U.S. Pork Supplies Swell As High Prices Slow Sales

U.S. pork supplies rose 13 per cent in October and posted the largest percentage increase from September in nine years as record-high prices slowed retail sales and increased pork production forced more pork into storage. The increase reported by the U.S. Agriculture Department on Nov. 22 was far more than some analysts had anticipated. “I

U. S. Beef Packers’ Losses Seen Reversing Late Oct.

U. S. beef packers have not slowed their pace of slaughter, despite negative profit margins for as long as three weeks, in a possible sign that a turnaround is at hand later this month, livestock analysts said. The analysts said demand was expected to pick up in late October and continue through end of the

U. S. Hog Herd Stays Small

USDA’s quarterly Hogs and Pigs Report Oct. 1 put the U. S. hog herd as of Sept. 1 at 64.991 million head, or 97.4 per cent of last year. That is the smallest September 1 hog herd since 2006. However, the smaller herd was expected as analysts, on average, had estimated it at 97.2 per

Cattle Set 16-Month High On Strong Technicals

Cattle futures at the Chicago Mercantile Exchange set a new 16-month high March 9 in the active April contract on a mix of technical and fundamental factors. Cash beef prices are the highest in nearly 10 months due to less production and improving demand. Investors also are buying cattle futures amid concerns rain and melting

Hogs Rally On Strong Cash Markets

U. S. hog futures rose for a second straight day to its highest level in 18 months Feb. 26 as tight supplies continued to stoke cash markets, and late in the session fund buying. Most-active April contract rose 6.1 per cent during the month. June equalled a contract high, while both July and August set

Decline In Stocks Supportive To U. S. Meat Prices

The amount of meat in U. S. warehouses at the end of January was down from a year earlier due to better demand and larger exports, and that should support meat prices in 2010. “Lower stocks across the board for all categories compared to last year shows that we are going to have a tighter

U. S. Cattle Herd At 51-Year Low

The cattle herd in the United States is at the smallest since 1959, a government report said Jan. 29, but the number was higher than trade estimates and still could weigh on prices. The U. S. Department of Agriculture’s semi-annual cattle inventory report pegged the U. S. herd at 93.7 million head as of Jan.

U. S. Feedlot Cattle Supply Dips To Seven-Year Low

The number of cattle being fattened for the dining table on U. S. feedlots fell to their lowest level in seven years, but higher beef prices are still unlikely amid the sluggish economy, analysts said Jan. 22. The number of cattle placed at these feedlots in December fell to an 11-year low due to winter

U. S. Pork Stocks At Three-Year Low

The total supply of pork in U. S. warehouses fell to its lowest end-of-December level for the past three years, but demand may slow as higher prices confront buyers. Much of the lighter-than-expected frozen supply was attributed to improved exports. “This is a three-year low, the lowest since the end of December 2006,” said Rich