The U.S. beef industry’s dependence on the muscle-building drug Zilmax began unraveling here, on a sweltering summer day, in the dusty cattle pens outside a Tyson Foods slaughterhouse in southeastern Washington state. As cattle trailers that had traveled up to four hours in 95 F (35 C) heat began to unload, 15 heifers and steers
Lost hooves, dead cattle before Merck halted Zilmax sales
U.S. grains: Wheat nears three-month low on bigger-than-expected supplies
U.S. wheat futures approached a three-month low on Tuesday after a government crop report projected that global supplies will exceed analysts’ expectations. Corn and soybean futures slipped on profit-taking following the U.S. Department of Agriculture (USDA) report. Traders had been awaiting the monthly report for an update on global supplies and demand as the United
GRAINS-Corn sets 3-year low as u.s. harvests overshadow demand
U.S. corn futures slumped to their lowest levels in more than three years on Thursday as the large harvest under way in the United States overshadowed blockbuster export sales. An influx of grain from the advancing harvest was expected to replenish crop inventories that were drained by strong demand following a historic U.S. drought last
GRAINS-U.S. Soybeans dip ahead of active U.S. harvesting weekend
U.S. soybean futures edged lower on Friday and corn futures were little changed ahead of what is expected to be an active weekend of harvesting in the United States, the world’s top producer of both crops. Projections that the U.S. harvest will continue to uncover larger-than-expected yields kept a lid on futures prices, despite robust
CME to monitor alternate hog pricing against manipulation
CME Group, the largest U.S. futures market operator, said Tuesday it will step up surveillance of its lean hog futures next week to prevent price manipulation under a pricing formula the exchange adopted to cope with the shut down of the U.S. government. The closer look from the exchange operator’s market regulation department will guard
With U.S. government shut, private data providers step in
When the U.S. Department of Agriculture went dark this week due to the partial government shutdown, phones lit up at commodities firm Urner Barry. USDA typically provides quotes on beef, pork and chicken prices, but 156-year-old New Jersey-based Urner Barry quickly became the go-to source for livestock traders searching for market quotes. “It’s certainly been
CBOT soybean futures fall on profit-taking after rally
U.S. soybean futures sank on Friday as traders took profits following a surge in prices the previous day, while corn futures sagged from a larger-than-expected U.S. harvest outlook. Wheat futures also traded lower. The decline in soybeans was an about-face from Thursday, when the new-crop November contract climbed 2.8 per cent after a monthly U.S.
Corn futures sink after USDA increases U.S. crop; soy soars
U.S. corn futures tumbled on Thursday after the U.S. Department of Agriculture surprised traders by increasing its harvest forecast despite a late-summer stretch of hot, dry weather in key crop areas. Soybean futures soared after the USDA, in the same monthly report, made a larger-than-expected cut to stocks remaining at the end of the crop
Cargill picks new CEO
Agribusiness Cargill Inc. on Wednesday said its CEO will step down on Dec. 1 in the latest management shuffle among the world’s top agricultural trading houses. Gregory Page, 62, will be replaced by David MacLennan, Cargill’s president and chief operating officer, as part of the company’s ongoing succession plans, the company said. MacLennan told Reuters
CBOT soy, corn, wheat edge up ahead of USDA harvest view
U.S. soybean futures crawled higher on Wednesday as hot weather in the U.S. Midwest encouraged traders to expect a lower harvest outlook in a government report due on Thursday. Corn and wheat futures also rose in tentative trading in the run-up to the release of U.S. Department of Agriculture crop data. The U.S. crop production
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