Chicago | Reuters — Chicago Mercantile Exchange hog futures fell hard on profit-taking after spiking to a new high driven by record-high wholesale pork values and strong prices for slaughter-ready hogs, traders said. Wednesday morning’s wholesale pork price, or cutout, surged $2.51 per hundredweight (cwt) from Tuesday to $134.04, surpassing the April record of $133.74,
U.S. livestock: Profit-taking drags down CME hog futures
U.S. livestock: Strong cash, pork prices push CME hogs to new high
Chicago | Reuters — Chicago Mercantile Exchange hog futures soared to a new high on Tuesday after tight supplies forced packers to hike bids for market-ready animals, traders said. CME live cattle futures also closed up sharply led by select beef prices that hit an all-time high amid tight supplies, the traders said. Hog processors
U.S. livestock: Tight supply outlook drives CME live cattle higher
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed higher on Monday after Friday’s government report confirmed tight supplies ahead, traders said. The U.S. Department of Agriculture cattle-on-feed report showed a seven per cent drop in the number of animals placed in U.S. feedlots in May. “We suspect the seven per cent decline
U.S. livestock: CME live cattle futures slide before USDA report
Chicago | Reuters — Chicago Mercantile Exchange live cattle ended lower on Friday, on profit-taking ahead of the U.S. Department of Agriculture’s cattle-on-feed report Friday afternoon, traders said. USDA’s report is expected to show the number of cattle placed in feedlots in May declined from a year ago as high-priced calves deterred feedyards from buying
U.S. livestock: Strong cash prices rally CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle finished higher on Thursday in response to stronger-than-expected prices for market-ready or cash cattle, traders said. Cash cattle in Texas and Kansas moved at $150 per hundredweight (cwt), up $2 from last week, according to feedlot sources (all figures US$). Investors had anticipated weaker cash returns
U.S. livestock: CME feeder cattle limit down on profit-taking
Chicago | Reuters — Chicago Mercantile Exchange feeder cattle futures on Wednesday settled down their three-cent daily price limit on profit-taking, traders said. Lower live cattle future and fund liquidation hastened CME feeder cattle losses, they said. Feeder cattle futures reflect worries about how to make high-priced calves work with current market-ready cattle values and
U.S. livestock: Lower cash price outlook pulls down CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures ended lower on Tuesday in anticipation of a seasonal bump in supplies that could pressure prices for market-ready or cash cattle, traders said. “It seemed like we delayed some bad news,” said EBOTTrading.com senior analyst John Kleist. Stronger-than-usual beef clearance leading up to Father’s Day
U.S. livestock: Firm beef prices help drive CME live cattle higher
Chicago | Reuters — Chicago Mercantile Exchange live cattle closed higher on Friday, a move fuelled partly by an uptick in wholesale beef prices, traders said. The morning’s wholesale choice beef price, or cutout, rose 64 cents per hundredweight (cwt) from Thursday to $231.53. Select cuts gained 29 cents to $223.89, the U.S. Department of
U.S. livestock: Strong cash prices lift CME live cattle
Chicago | Reuters –– Chicago Mercantile Exchange (CME) live cattle futures closed sharply higher Thursday, pushed up by short-covering in response to higher-than-expected prices for slaughter-ready or cash cattle, traders said. Cash cattle in Texas and Kansas moved at $148 per hundredweight (cwt), up $3 from a week ago, according to feedlot sources (all figures
U.S. livestock: Profit-taking halts CME feeder cattle rally
Chicago | Reuters — Chicago Mercantile Exchange feeder cattle futures closed sharply lower on Wednesday, pressured by profit-taking that ended the market’s run of six straight sessions at new highs. “It doesn’t surprise me that futures would take a breather after going up so fast,” a trader said. Futures were also overpriced based on CME’s
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