Chicago Mercantile Exchange feeder cattle futures closed sharply lower on Monday, with October down its limit of three cents per pound, as investors worried that high-priced corn may curb feedlot demand for young cattle, traders said. Corn prices at the Chicago Board of Traded spiked near their 40-cent daily price limit led by hot weather
CME feeder cattle futures plunge as corn prices surge
U.S. live cattle futures sag before USDA report
Chicago Mercantile Exchange live cattle futures closed lower Friday as traders tweaked positions ahead of the U.S. Department of Agriculture’s monthly cattle-on-feed report expected at 2 p.m. CT. Analysts polled by Reuters believe the smaller U.S. cattle herd and high-priced feed resulted in feedlots drawing from fewer cattle available for feeding now. Spot August live
Lower cash prices drag down CME hog futures
Chicago Mercantile Exchange hog futures fell on Thursday in reaction to lower cash hog and pork prices and a seasonal increase in hog supplies, traders and analysts said. The U.S. Department of Agriculture on Thursday morning reported the average hog price in the closely watched Iowa/Minnesota market fell $1.92 per hundredweight (cwt) from Wednesday to
CME hog futures slide as supplies seasonally increase
Chicago Mercantile Exchange hog futures dropped on Wednesday in response to lower cash hog prices that were pressured by a season increase in supplies, traders and analysts said. The U.S. Department of Agriculture on Wednesday morning reported the average hog price in the most-watched Iowa/Minnesota market slumped $1.94 per hundredweight (cwt) from Tuesday to $91.45
CME live cattle futures up with cash expectations
Chicago Mercantile Exchange live cattle futures gained modestly on Tuesday in anticipation of higher cash prices this week, traders and analysts said. Spot August live cattle ended up 0.2 cent at 123.85 cents per pound. Most-actively traded October closed up 0.075 cent, at 128.15 cents (all figures US$). No cash cattle bids or asking prices
CME live cattle futures mostly higher as corn surges
Chicago Mercantile Exchange deferred live cattle futures rose on Monday in reaction to ideas the surge in corn prices will slow cattle production, traders and analysts said. CME live cattle and hog traders bought deferred months with the view that livestock producers may feed fewer cattle and hogs and fatten them to lighter weights if
CME live cattle mixed, Merck news lifts back months
Chicago Mercantile Exchange live cattle futures on Friday settled mixed after a choppy session. August live cattle futures closed up 0.2 cent at 123.9 cents per pound and October settled at 127.925 cents, off 0.175 cent (all figures US$). Rising wholesale beef prices and higher cash cattle prices encouraged CME live cattle August futures buyers.
Merck halts Zilmax sales, to study cattle feed additive
U.S. drugmaker Merck and Co. said on Friday it is temporarily suspending sales of its Zilmax animal feed additive in the U.S. and Canada following concerns about use of the product, which is given to cattle to increase their weight before slaughter. Zilmax has been the focus of attention in the livestock industry since Tyson
Slumping cash, pork prices drop CME hogs to four-month low
Chicago Mercantile Exchange hogs Thursday slumped to a four-month low on profit taking following lower cash hog and wholesale pork prices, traders and analysts said. The wide disparity between the new lead-month October contract and the spot August trading month, which expired on Wednesday at 102.425 cents, played a role in futures’ sizeable drop on
Tyson takes lead with Zilmax ban, higher beef prices may follow
When top U.S. meat packer Tyson Foods Inc. abruptly announced it would stop buying cattle fed with a widely used drug that can add more than 30 pounds to the average steer, the implications for markets were clear: less meat, higher prices. Tyson, which buys about one in four of all U.S. cattle for slaughter,
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