U.S. feeder cattle futures rose for a third straight session on Tuesday, drawing support from tight feeder cattle supplies and gains in live cattle futures. Traders cited steady-to-higher cash feeder cattle values and weaker corn prices, which lowered the cost for feed. "You have that reciprocal trade between corn and feeders (futures) and the tighter
U.S. feeder cattle futures surge again, supplies tight
U.S. feeder cattle futures rally as corn fades
Chicago U.S. feeder cattle futures rallied almost one per cent on Monday, lifted by short-covering as corn prices fell more than two per cent amid fund liquidation, improving feedlot demand for younger cattle. Feeder cattle at the Chicago Mercantile Exchange (CME) garnered further support from gains in its live cattle market. "When the corn market
U.S. hogs now up five straight weeks
U.S. hog futures hit a two-and-a half-month high on Friday, and extended their weekly win streak to five, fueled by higher cash hog and wholesale pork prices, said analysts and traders. Chicago Mercantile Exchange (CME) hogs ended up almost 1.8 per cent for the week as grocers feature pork for National Pork Month in October.
U.S. feeder cattle off as corn soars on USDA report
U.S. feeder cattle futures declined nearly two per cent on Thursday, and some months sank by their three-cent daily trading limit, as corn prices surged more than five per cent after a U.S. Department of Agriculture report. The USDA estimated smaller-than-expected corn production that will likely put more pressure on feed costs for livestock producers,
Ranchers wait out beef recall, exports to U.S. grow
Western Canada’s ranchers and feedlots are holding slaughter-ready cattle back from market longer than usual, absorbing extra costs as they try to wait out the closure of one of the region’s biggest processing plants due to a massive recall of potentially tainted beef. But as the closure of XL Foods’ Lakeside beef plant at Brooks,
U.S. hogs jump to two-and-a-half-month high
U.S. hog futures climbed to their highest levels in 2-1/2 months on Wednesday, lifted by strong wholesale pork demand and futures’ discount to cash prices, analysts and traders said. Chicago Mercantile Exchange (CME) December hogs led the charge as spreaders bought that contract and sold thinly traded spot October which will expire on Friday. "December
U.S. live cattle rise again on beef quotes
U.S. live cattle futures rose for a third straight day on Tuesday as wholesale beef prices climbed, fueling optimism for cattle prices in the cash market, traders and analysts said. Chicago Mercantile Exchange (CME) spot October live cattle cleared the 100- and 20-day moving averages of 124.05 and 124.46 cents, igniting fund buying and bullish
Tighter supplies lift U.S. hogs
U.S. hog futures finished higher on Monday as some packers raised bids for cash hogs whose numbers have tightened in recent weeks, said analysts and traders. Spreaders also bought Chicago Mercantile Exchange (CME) December hogs as the spot October contract prepares to expire on Oct. 12. Some traders also sold distant trading months and bought
U.S. hogs book biggest weekly percent rise in four months
U.S. hog futures settled mixed on Friday on sentiment that cash hog prices are close to topping out after recent advances helped futures to their biggest weekly percentage gain in four months, said analysts and traders. Spreaders also sold Chicago Mercantile Exchange (CME) spot October hogs and bought deferred months as the spot month prepares
U.S hogs book biggest daily percentage gain in 10 weeks
U.S. hog futures posted their biggest one-day percentage gain in 2 1/2 months on Thursday, driven by strong packer demand for hogs amid tight supplies and fund buying, said analysts and traders. Chicago Mercantile Exchange (CME) October hogs earlier in the day moved above the 200-day moving average of 81.89 cents, triggering fund buying. Funds
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