Pork stocks in U.S. warehouses in September soared to a record high for that month, a sign the rush to market hogs this summer due to high feed costs may mean fewer hogs and less pork next year. The bulk of the price gains could come in the second half of next year, analysts said.
Analysts expect fewer pigs and higher prices next year
Cash prices drive U.S. hogs to six-month high
U.S. hog futures rose on Wednesday to their highest level in six months, lifted by strong cash hog and wholesale pork values, analysts and traders said. Investors covering short positions gave an added boost to Chicago Mercantile Exchange hogs. Fund buying surfaced after the February contract broke through the 10-day moving average of 86.96 cents
U.S. cattle slip on ‘fiscal cliff’
U.S. live cattle futures closed slightly lower on Tuesday as investors worried that talks in Washington may not resolve the "fiscal cliff" that has been hanging over commodity and equity markets, said analysts and traders. The lower stock market, despite some encouraging economic news, had cattle investors favouring the sell side. Chicago Mercantile Exchange livestock
U.S. live cattle fall on profit-taking, stock market
U.S. live cattle futures closed lower on Monday on profit taking ending six consecutive sessions of advances, said analysts and traders. Some had expected the market to extend gains, but instead there was liquidation after the recent uptrend, said Citibank futures specialist Art Liming. Stock market losses, prompted by domestic and global economic worries, further
U.S. cattle hit eight-month high in post-holiday trading
U.S. live cattle futures on Friday scored an eight-month high in thin post-Thanksgiving Day (U.S.) trade, in part bolstered by strong cash cattle prices and solid beef demand, said analysts and traders. Chicago Mercantile Exchange live cattle also finished the week up 2.2 per cent amid fund buying and triple-digit stock market gains following the
U.S. cattle futures jump in pre-holiday trading
U.S. live cattle futures on Wednesday rose for a fifth straight session, driven by expectations for higher prices for cattle in the cash market, said traders and analysts. The Chicago Mercantile Exchange (CME) will be closed on Thursday for the U.S. Thanksgiving Day holiday. Packers in the southern U.S. Plains raised cash bids by $3
Cash optimism buoys U.S. cattle, hogs futures
U.S. live cattle futures gained as improved wholesale beef values fueled expectations for steady-to-higher cash prices this week, said analysts and traders. Investors are anticipating a better cash market and beef prices may trend higher as demand returns to normal in the North East after Hurricane Sandy, said Vetterkind Cattle Brokerage president Troy Vetterkind. The
Dow surge boosts U.S. hogs, cattle futures
U.S. hogs spiked by two per cent in early trading Monday, partly driven by hopes of a U.S. "fiscal cliff" resolution that ignited fund buying across a wide range of commodities and equities markets, said analysts and traders. "Everything followed the stock market higher. In this environment, no one will be able to stay on
U.S. cattle futures up slightly ahead of USDA report
U.S. live cattle futures gained modestly on Thursday as investors adjusted positions before the U.S. Department of Agriculture’s monthly cattle-on-feed report on Friday, analysts and traders said. Analysts polled by Reuters expect the report to show U.S. cattle placements in October fell 12.6 per cent. Investors also priced in a potential cash cattle market trade
Beef quotes lift U.S. live cattle futures
U.S. live cattle futures turned higher on Tuesday, lifted by the turnaround in wholesale beef prices that stirred short-covering, said traders and analysts. Also, fund buying developed after Chicago Mercantile Exchange (CME) December and February broke through the 10-day moving average resistance level of 125.49 and 129.33 cents (all figures US$). "Most of what we
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