Reuters — PM Beef will close its southwestern Minnesota beef processing plant on Dec. 11, due to tight cattle supplies, the company said Tuesday. The company announced the Windom plant’s closure to employees and owners during meetings Monday, according to local media. Prices for slaughter cattle last year hit record highs in the wake of
PM Beef to shut Minnesota plant, cites tight cattle supply
U.S. livestock: CME live cattle move up with beef quotes
Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures closed higher on Monday, strengthened by short-covering following the morning’s wholesale beef price bounce, traders said. Spot October finished 1.15 cents/lb. higher at 131.925 cents, and December up 0.25 cent to 137.575 (all figures US$). Monday morning’s wholesale choice beef price, or cutout, climbed $1.32/cwt
U.S. livestock: CME live cattle mixed on better-than-expected cash prices
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed mixed on Friday after preliminary cash prices beat early-week expectations, lifting contracts from session lows, traders said. Spot October finished down 0.4 cent/lb. at 130.775 cents, and December was 0.35 cent lower at 137.325 (all figures US$). February finished up 0.225 cent at 139.4
U.S. livestock: Bump in beef price extends CME live cattle gains
Chicago | Reuters –– Chicago Mercantile Exchange live cattle rose for a third straight session Thursday, helped by more short-covering following a morning jump in wholesale beef quotes, traders said. Spot October finished 1.825 cents/lb. higher at 131.175 cents, and December up 1.525 cents at 137.675 (all figures US$). Thursday morning’s wholesale choice beef price,
Volatility prompts CME to raise live cattle margins
Chicago | Reuters — CME Group, the world’s largest livestock futures market operator, has raised margin rates for live cattle futures for the second week in a row after dramatic swings in the market, an exchange spokesman told Reuters on Thursday. Late on Wednesday the Chicago Mercantile Exchange raised its live cattle initial margins for
U.S. livestock: Short-covering drives CME live cattle higher
Chicago | Reuters –– Chicago Mercantile Exchange live cattle closed higher on Wednesday, fuelled by active short-covering in anticipation of cash and wholesale beef prices bottoming out soon, traders said. Spot October finished 4.225 cents/lb. higher at 129.35 cents, and December up 2.925 cents at 136.15 (all figures US$). “So many of these holders of
U.S. livestock: CME live cattle limit up on beef bounce
Chicago | Reuters — Chicago Mercantile Exchange live cattle finished up their three-cent-per-pound daily price limit on Tuesday, driven by short-covering and bargain hunting following the spike in wholesale beef prices, traders said. Spot October and December finished at 125.125 and 133.225 cents, respectively (all figures US$). Live cattle’s trading limit will be expanded to
U.S. livestock: Sagging beef prices drag on CME live cattle
Chicago | Reuters –– Chicago Mercantile Exchange live cattle resumed their recent downtrend on Monday after the seasonal drop in wholesale beef values trimmed last Friday’s futures gains, traders said. Spot-October settled down 0.95 cent, to 122.125 cents/lb,, and December 1.15 cents lower at 130.225 cents (all figures US$). Monday morning’s wholesale choice beef price,
U.S. livestock: CME live cattle snap four-day losing streak
Chicago | Reuters — Chicago Mercantile Exchange live cattle finished the week on a positive note, fueled by short-covering and bargain hunting that halted future’s four-day skid, traders said. Spot-October settled 1.675 cents higher at 123.075 cents/lb., and December 1.375 cents higher at 131.375 cents (all figures US$). CME live cattle’s Relative Strength Index (RSI)
U.S. livestock: CME live cattle again sag to two-year bottom
Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures on Thursday slid to a two-year low for a second consecutive session, after investors sold October and bought deferred months in anticipation of more cash price weakness, traders said. Spot-October settled at 121.4 cents/lb., down 3.275 cents, and December 0.925 cent lower at 130 cents
Cyber-Savvy Farmer
