Chicago Mercantile Exchange live cattle slumped on Thursday as eroding corn prices stirred selling that trumped initial speculative buying, traders and analysts said. “Usually when you have back-month futures higher than the front contract, the thing that will hurt the most is if corn gets cheaper,” KIS Futures vice-president Lane Broadbent said. Less-costly corn might
LIVESTOCK: Cheaper corn hits U.S. live cattle futures
LIVESTOCK: U.S. hog futures lifted by higher cash hog, pork prices
Chicago Mercantile Exchange hog futures rallied on Wednesday driven by higher cash hog and wholesale pork prices, analysts and traders said. The U.S. Department of Agriculture data showed the average hog price Wednesday morning at the most-watched Iowa/Minnesota market at $98.66 per hundredweight (cwt), up $2.80 from Tuesday. Wednesday morning’s USDA mandatory wholesale pork price
LIVESTOCK: Lower cash prices sink U.S. hog futures
Chicago Mercantile Exchange hog futures fell on Tuesday in anticipation of lower-trending cash hog prices caused by packers working to improve operating, analysts and traders said. The U.S. Department of Agriculture data showed the average hog price Tuesday afternoon at the most-watched Iowa/Minnesota market at $95.78 per hundredweight (cwt), down 48 cents from Monday. Some
LIVESTOCK: U.S. live cattle futures up with seasonal cash hopes
Chicago Mercantile Exchange live cattle on Monday gained for a third straight session in anticipation of a seasonal uptrend in cash cattle prices, said analysts and traders. Last summer’s drought forced ranchers to send cattle to market ahead of schedule, resulting in fewer cattle now. And improved grazing conditions are keeping cattle out of feedlots
LIVESTOCK: U.S. hog futures drop in anticipation of lower cash
Chicago Mercantile Exchange hog futures slumped Thursday in anticipation of lower-trending cash hog prices, traders and analysts said. Mixed cash hog returns on Thursday suggest negative margins prompted some packers to reduce slaughter, which should underpin the cutout, a trader said. Other processors may curb slaughter rates after they pad inventories for the rest of
LIVESTOCK-climbing pork prices pull up U.S. hog futures
Chicago Mercantile Exchange hog futures rose on Tuesday in response to sharply higher wholesale pork prices, traders and analysts said. The U.S. Department of Agriculture’s Tuesday morning mandatory wholesale pork price report, or cutout, calculated on a plant-delivered basis, was at $102.02 per hundredweight (cwt). The price jumped $2.73 from Monday to its highest since
Ebbing beef prices pare early U.S. cattle futures gains
Chicago Mercantile Exchange live cattle on Monday sagged with lower wholesale beef prices, said analysts and traders. The U.S. Department of Agriculture on Monday afternoon quoted the wholesale price of choice beef at $188.98 per hundredweight (cwt), which was down 24 cents from Friday. Select cuts fell 97 cents to $183.20 cents. Recent hot weather
U.S. cattle futures sag before USDA report
Chicago Mercantile Exchange live cattle sagged Friday as investors awaited the U.S. Department of Agriculture’s monthly cattle-on-feed report on Friday at 2 p.m. CDT. Analysts expect the data to show cattle placements last month fell as abundant grazing pastures kept animals out of feedyards longer. USDA’s monthly cold storage report will be issued on Monday
LIVESTOCK-Fund buying boosts u.s. cattle futures
Chicago Mercantile Exchange live cattle climbed Thursday on fund buying after futures broke through key technical resistance levels, traders and analysts said. August live cattle finished at 122.100 cents, or0.800 cent per lb higher. It ended above where the 20-day and 100-day moving average converged at 121.883 cents. October closed at 126.475 cents, or 1.225
Livestock – U.S. cattle futures wilt with beef demand
Chicago Mercantile Exchange live cattle futures fell on Wednesday as wholesale beef prices slumped amid scorching heat in parts of the country, traders and analysts said. “Conditions like these don’t typically encourage heavy high protein meals which will likely produce negative impact on animal protein consumption,” Hales Trading Co President David Hales said. The U.S.
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