Chicago Mercantile Exchange (CME) live cattle futures settled mostly weaker on Tuesday as bullish spreads underpinned April futures while pressuring remaining trading months, traders and analysts said. They said expectations for fully steady cash cattle prices and modest advances in wholesale beef values lifted spot April CME live cattle. And bullish spreads pushed spot April
Most U.S. cattle futures weakened by spreads
U.S. cattle futures spring back as grilling season nears
Chicago Mercantile Exchange (CME) live cattle futures were higher on Monday lifted by short-covering in anticipation warmer spring weather will increase demand for outdoor grilling, traders and analysts said. Beef prices have advanced ahead of warmer weather with help from better economic news and the stock market advancing after its steep drop on Friday, said
Stock market sell-off sinks U.S. hog futures
Chicago Mercantile Exchange (CME) lean hog futures on Friday declined 1.7 per cent as equity markets tumbled following discouraging U.S. economic news, analysts and traders said. The U.S. stock market at one point was down more than one per cent in response to smaller-than-anticipated government payroll numbers and disappointing March jobs data. “It’s more of
Fund selling drops Chicago live cattle futures
Chicago Mercantile Exchange (CME) live cattle futures turned lower on Thursday pressured by fund liquidation, traders and analysts said. Selling ahead of CME live cattle spot April options expiration on Friday exerted more futures pressure. Monday is the first notice day for deliveries against the April contract. Spot April live cattle closed 0.725 cents per
Cash prices boost Chicago live cattle futures
Chicago Mercantile Exchange (CME) live cattle futures turned moderately higher on Wednesday, lifted by short-covering following mostly fully steady cash prices, traders and analysts said. April live cattle closed 0.55 cents per pound higher at 127.975 cents. June was up 0.375 cent to 123.2 cents (all figures US$). Cash cattle in the U.S. Plains generally
Chicago feeder cattle limit up as U.S. data sinks corn
Chicago Mercantile Exchange (CME) feeder cattle closed up the three-cent daily trading limit on Thursday after corn futures fell by its 40-cent price limit following a bearish government grain stocks report, analysts and traders said. The U.S. Department of Agriculture report showed bigger-than-expected corn stockpiles. More feed could lower input costs for cattle feedlot operators
U.S. hog herd expands slightly despite high feed costs
The U.S. hog herd in the latest quarter had modest growth from year-ago levels, a U.S. government report showed on Thursday, as producers increased production in hope for less-costly feed. The U.S. Department of Agriculture’s data showed the U.S. hog herd as of March 1 at 101 per cent of a year ago, or 65.911
Short-covering rally lifts U.S. live cattle futures
Chicago Mercantile Exchange (CME) live cattle futures rallied Wednesday on short-covering before the extended Easter holiday weekend, analysts and traders said. CME livestock pit trading will close at the normal 1 p.m. CT time on Thursday. The exchange will be closed on Friday for the Good Friday holiday. April and June live cattle futures broke
U.S. hog futures rise with cash prices
Chicago Mercantile Exchange (CME) hog futures closed higher on Tuesday with support from higher cash hog prices, said analysts and traders. Nearby CME hog contracts benefited from bullish spreads with the view that less-expensive corn might cause some producers to feed more animals and thus pressure prices later this year. Still, slack wholesale pork demand
USDA report lifts Chicago live cattle futures
Chicago Mercantile Exchange (CME) live cattle futures on Monday turned higher on short-covering after Friday’s bullish U.S. Department of Agriculture monthly cattle-on-feed report, analysts and traders said. Friday’s data showed a bigger-than-expected drop in the number of cattle placed in feedlots in February as corn remained at historically-high levels. “The cattle report was good news.
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