Aside from Chicago Mercantile Exchange (CME) spot February live cattle futures, remaining contracts drew support on Monday from last week’s bullish biannual cattle inventory report, analysts and traders said. Friday’s data showed tighter cattle numbers ahead with the U.S. cattle herd at the smallest in 61 years after drought drove feed costs to record highs
USDA report lifts most U.S. live cattle futures
U.S. live cattle dip before report, up for week
Chicago Mercantile Exchange (CME) live cattle futures closed lower on Friday amid caution before the government’s biannual cattle inventory report at 2 p.m. CST, analysts and traders said. Analysts expect the report to show the U.S. cattle herd declined for a sixth straight year as drought drove up feed costs. Also, futures’ premium to cash
U.S. hogs rise with cash, up for fifth straight month
Chicago Mercantile Exchange (CME) hog futures settled higher on Thursday, aided by strong cash hog prices that helped extend the futures market’s winning streak to five straight months. CME hogs finished up 2.3 per cent for January. Hogs at the CME also drew support from fund buying after the April contract broke through the 100-day
U.S. live cattle futures wilt as cash disappoints
Chicago Mercantile Exchange (CME) live cattle futures posted modest losses on Wednesday after prices for cattle in the cash market came in higher, but fell short of traders’ expectations. Cash cattle in the southern U.S. Plains traded at $125 per hundredweight (cwt), $3 higher than last week, feedlot sources said (all figures US$). Some investors
Still-potent U.S. drought robs cattle ranchers of wheat pasture
Oklahoma rancher Kent Donica has given up. The drought that has ravaged pastures on his ranch and throughout the region has won. Since last September, Donica has sold nearly all of his 800 cattle because there is no pasture to feed them and he now works as a ranch hand nearby to make ends meet
U.S. live cattle futures drop on profit-taking
Chicago Mercantile Exchange live cattle futures Tuesday slipped on profit-taking following their steep climb on Monday, said analysts and traders. Futures on Monday jumped more than two per cent, driven by last Friday’s bullish government monthly cattle report. Investors also embraced plans by Japan to relax U.S. beef import rules effective Feb. 1. CME spot
USDA data, Japan news boost U.S. live cattle
Chicago Mercantile Exchange live cattle futures surged more than two per cent on Monday, fueled by Friday’s bullish U.S. Department of Agriculture cattle on-feed report, traders and analysts said. They also pointed to plans by Japan to relax restrictions on U.S. beef imports on cattle up to 30 months old, effective Feb. 1. Last Friday’s
U.S. cattle placements fall seventh straight month
The number of cattle placed in U.S. feedlots in December fell for a seventh straight month, a government report showed on Friday, in a sign of high feed costs continuing to roil the industry after the worst drought in half a century. The decline was against trade expectations for the first monthly increase in placements
U.S. live cattle futures rise ahead of USDA report
Chicago Mercantile Exchange (CME) live cattle futures closed higher on Friday aided by Thursday’s stronger-than-expected cash prices, signalling tighter cattle supplies ahead, traders and analysts said. Cattle in the Nebraska cash market on Thursday fetched $123 to $124 per hundredweight (cwt), $1 to $2 higher than on Wednesday but steady to down $2 from last
Strong cash prices lift U.S. hog futures
Chicago Mercantile Exchange hog futures climbed Thursday on higher prices for hogs in the cash market, traders and analysts said. They also cited fund buying after the February contract broke through the 100-day moving average of 89.21 cents (all figures US$). Spot February hogs settled 1.075 cents per pound higher, or up 1.25 per cent,
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