Chicago Mercantile Exchange lean hog futures on Thursday posted their biggest daily percentage rise in three months as higher cash prices triggered short-covering, said traders and analysts. CME lean hogs rose 3.23 per cent on Thursday, their biggest one-day increase since Dec. 17, 2012. Advances pushed CME April and June hogs through their respective 10-day
U.S. hogs mark biggest daily gain in three months
U.S. live cattle slump as funds sell, but off lows
Chicago Mercantile Exchange (CME) live cattle futures moved lower on Wednesday as funds liquidated long positions, analsyts and traders said. CME April and June live cattle fell below their respective 10-day moving average of 129.22 and 124.58 cents, triggering sell stops (all figures US$). April closed at 128.8 cents per pound, down 0.825 cent, and
U.S. live cattle futures sag; sequester weighs
Chicago Mercantile Exchange (CME) live cattle futures turned lower on Tuesday as the threat of meat inspector furloughs, which could shut beef plants, contributed to profit taking, analysts and traders said. The U.S. Department of Agriculture is expected to send furlough notices to meat inspectors this week, but it will be several months before they
U.S. agribusiness frets over sequestration
U.S. farmers and agribusiness companies are worried that across-the-board federal budget cuts will snarl the supply channels for everything from milk and broiler chickens to grain shipments, but many are hopeful that the Obama administration and Republican opponents will find a compromise before major disruptions hit the food system. Most immediate concerns center on federal
Surging beef prices boost U.S. live cattle futures
Chicago Mercantile Exchange (CME) live cattle futures rose on Monday after recent wintry weather in the U.S. Plains trimmed cattle supplies and pushed up wholesale beef prices, traders and analysts said. Investors also said another storm developing in the central and western Midwest could create more problems at feedyards where cattle are fattened for slaughter.Snow
Smithfield says it will meet China’s deadline on pork
China wants third-party verification that imports are free of the additive that promotes lean muscle growth
Smithfield Foods Inc., the world’s largest pork processor, said Feb. 21 it will be able to supply pork that is free of the feed additive ractopamine in time to meet a March 1 deadline by China. China, the world’s largest pork consumer and the third-largest market for U.S. pork with sales of over $800 millionU.S. live cattle rise on report, winter storm
Chicago Mercantile Exchange (CME) live cattle futures rose for a third straight day on Monday following the U.S. Department of Agriculture’s monthly cattle-on-feed report last Friday, traders and analysts said. The data showed higher-than-expected marketings in January against the first increase in the number of cattle placed on feedlots in eight months that stirred bullish
U.S. cattle placements up first time in eight months
The number of cattle placed in U.S. feedlots in January rose for the first time in eight months, a government report showed on Friday, a sign that the worst drought in more than half a century continued to impact the industry. The U.S. Department of Agriculture showed placements up two per cent from a year
U.S. live cattle futures rally before USDA report
Chicago Mercantile Exchange (CME) live cattle futures turned higher on Friday, driven by supportive domestic and wholesale beef demand that stirred short-covering, traders and analysts said. CME live cattle rose ahead of Friday’s U.S. Department of Agriculture monthly cattle-on-feed report at 2 p.m. CST. Analysts expect the data to show the number of cattle placed
U.S. hog futures hit two-month low as cash prices slide
Chicago Mercantile Exchange (CME) hog futures extended losses for a fourth straight session on Thursday as lower cash hog prices weighed, analysts and traders said. Losses in the corn market were also blamed for pressing CME hogs to their lowest level in two months. CME livestock market investors believe cattle and hog producers may feed
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