Chicago Mercantile Exchange hogs rose for a third consecutive session, driven by futures’ discount to cash hog prices, traders and analysts said. CME spot-August hogs followed the exchange’s hog index at 102.23 cents into the spot-month expiration at noon CT. The contract closed at 102.425 cents per pound, or up 0.625 cents (all figures US$).
CME hogs climb on futures’ discount to cash prices
Cash optimism lifts U.S. live cattle to six-month high
Chicago Mercantile Exchange live cattle futures hit a six-month high on Tuesday in anticipation of higher cash prices this week, traders and analysts said. There were no cash cattle bids or asking prices reported by feedlot sources as of Tuesday. Last week, cash cattle in Texas and Kansas moved at $121 per hundredweight (cwt), feedlot
CME live cattle futures rally with cash, beef prices
Chicago Mercantile Exchange live cattle futures on Monday rallied with higher cash prices and improved wholesale beef values, traders and analysts said. The U.S. Department of Agriculture on Monday morning quoted the wholesale price, or cutout, of choice beef at $190.03 per hundredweight (cwt), up $1.04 from Friday (all figures US$). Select cuts were 63
Tyson takes lead with Zilmax ban, higher beef prices may follow
When top U.S. meat packer Tyson Foods 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, says
U.S. live cattle futures slip on profit-taking
Chicago Mercantile Exchange live cattle futures on Friday dipped on profit-taking, a day after surging to a three-month high after Tyson Foods said it would no longer buy cattle given the feed additive Zilmax, traders and analysts said. In a letter to feedlot operators, Tyson Foods, the country’s largest meat processor, said it will suspend
Tyson ban drives Chicago cattle futures to three-month high
Chicago Mercantile Exchange live cattle futures on Thursday hit a three-month high fueled by speculation that beef prices could rise after Tyson Foods said it would no longer buy cattle given the feed additive Zilmax. In a letter, Tyson Foods, the country’s largest meat processor, notified all feedlot operators it would suspend Zilmax-fed cattle purchases
Tyson to suspend buying cattle fed Zilmax
Tyson Foods, the largest U.S. meat processor, said it would suspend purchases of cattle fed the growth enhancer Zilmax, saying it was worried about cases of cattle with difficulty walking although it did not know the specific cause of problem. Rumours of Tyson’s action sparked a sharp rally in Chicago Mercantile Exchange cattle futures on
CME hog futures slump amid profit-taking
Chicago Mercantile Exchange hog futures settled lower on Wednesday as traders took profits in anticipation of cash hog and wholesale prices peaking soon, traders and analysts said. Spot August hogs finished nearly in line with CME’s lean hog index, which was at 100.71 cents. The spot month eased from a new contract high on Wednesday
Higher cash hog, pork prices lift CME hog futures
Chicago Mercantile Exchange hog futures on Tuesday rose for the fifth straight session helped by higher prices for cash hogs and wholesale pork, traders and analysts said. U.S. Department of Agriculture data showed the average hog price Tuesday afternoon at the closely-watched Iowa/Minnesota market at $100.61 per hundredweight (cwt), up 85 cents from Monday (all figures
LIVESTOCK: U.S. hog futures jump with pork prices
Chicago Mercantile Exchange hogs closed higher on Friday as strong pork prices lifted futures for a third straight session, traders and analysts said. Friday morning’s USDA mandatory wholesale pork price report, or cutout, was $103.67 per hundredweight (cwt). The price surged $2.89 from Thursday to its highest since $104.86 on July 9. Tight supplies of
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