Chicago | Reuters –– Chicago Mercantile Exchange feeder cattle futures on Tuesday hit a new high for a sixth straight session, driven by a shortage of calves for fattening after several years of drought in the U.S. hurt crops, traders said. However, sufficient grazing pastures now are allowing ranchers to nourish animals to heavier weight
U.S. livestock: CME feeder cattle touch new highs as supplies tighten
U.S. livestock: CME live cattle close mostly higher on spreads
Chicago | Reuters — Chicago Mercantile Exchange live cattle closed mostly higher on Monday after investors sold June futures and simultaneously bought deferred months in a trading strategy known as bear spreading, traders said. Weak wholesale beef prices further pressured the June contract, they said. Monday morning’s wholesale choice beef price slipped 41 cents per
U.S. livestock: Profit-taking undercuts CME live cattle futures
Chicago | Reuters — Chicago Mercantile Exchange live cattle closed lower Friday, pressured by profit-taking following futures’ sharp rally on Thursday, traders said. “Investors are looking at the fact that futures overdid it to the upside yesterday,” said Oak Investment Group president Joe Ocrant, who also cited weaker cutout values. Friday morning’s wholesale choice beef
U.S. livestock: CME live cattle futures climb as funds buy
Chicago | Reuters — Chicago Mercantile Exchange live cattle closed higher on Thursday, with support from fund buying after contracts broke through moving-average resistance levels, traders said. Short covering contributed to CME live cattle advances, they said. Futures drew more support from their discounts to this week’s prices for market-ready or cash cattle. Cash cattle
U.S. livestock: Fund buying drives CME feeder cattle to record high
Chicago | Reuters — Chicago Mercantile Exchange feeder cattle Wednesday hit a record high on fund buying after contracts broke through technical resistance levels, traders said. “(The) technical aspect of the feeder cattle market looks fine,” said Citigroup futures specialist Sterling Smith. Fundamentally, young calves for feeding will be in demand given generally weak corn
U.S. livestock: Supply worries drop CME live cattle futures
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed lower on Tuesday in anticipation of a seasonal bump in supplies that could further pressure prices for market-ready, or cash cattle, traders said. Last week, cash cattle in Texas and Kansas moved at $144 per hundredweight (cwt), $1 lower than the week before (all
U.S. livestock: CME hog futures sag with cash prices before holiday
Chicago | Reuters — Chicago Mercantile Exchange hog futures ended lower on Friday, pressured by weaker prices for market-ready, or cash, hogs, with packing plants set to close on Memorial Day, traders said. The CME also will be closed on Monday in observance of the U.S. Memorial Day holiday. Cash hog prices felt more pressure
U.S. livestock: CME hog futures slump with cash prices, pork demand
Chicago | Reuters –– Chicago Mercantile Exchange hogs closed lower on Thursday, pressured by weaker prices for market-ready or cash hogs pegged to plant closures during the U.S. Memorial Day holiday, trader said. They also cited the relapse in wholesale pork prices. Grocers bought all the product they need to accommodate grilling demand over the
U.S. livestock: Fund buying rallies CME hog futures
Chicago | Reuters — Chicago Mercantile Exchange hog futures closed higher on Wednesday, supported by short-covering and fund buying, traders said. Speculation about tight supplies ahead pegged to the porcine epidemic diarrhea virus (PEDv) provided further support to futures that ignored Wednesday’s drop in market-ready hog and wholesale pork prices. The morning’s average hog price
U.S. livestock: Profit-taking undercuts CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures finished lower on Tuesday, pressured by profit-taking in anticipation of steady-to-lower prices for market-ready or cash cattle this week, traders said. Plant closures during the U.S. Memorial Day holiday will lessen their need for supplies, they said. Processors curbed slaughters to avoid spending more for
Cyber-Savvy Farmer
