Chicago | Reuters — U.S. wheat futures climbed on Monday on lower-than-expected production estimates for domestic crops damaged by searing weather and drought, analysts said. Corn and soybean futures also jumped. The U.S. Department of Agriculture, in a monthly report, slashed its harvest outlook for spring wheat other than durum by 41 per cent from
U.S. grains: Wheat futures rally after U.S. slashes harvest estimates
Agency raises U.S. corn crop forecast from June
U.S. livestock: CME live cattle ease as beef demand cools
CME lean hog futures mostly firm
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures dropped for a second day, following U.S. boxed beef prices lower as seasonal demand cools. “You’re still seeing boxed beef pull back, which is normal, seasonally,” said Matthew Wiegand, Risk Management Consultant at FuturesOne. “We’re past the Fourth of July — we don’t have a
U.S. livestock: Live cattle futures, boxed beef prices drop
Average hog weights down on week
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures approached a four-week low on Wednesday as U.S. beef prices declined. The drop in futures extended a four per cent setback from a contract high that most-active August live cattle reached last month. Prices for beef shipped to wholesale buyers in large boxes have also
U.S. grains: Soy futures rebound on declining crop condition
Forecast rain has eased U.S. corn yield fears
Chicago | Reuters — Chicago Board of Trade soybean futures rose on Wednesday, recouping a portion of heavy losses from a day earlier, as a lower-than-expected U.S. crop rating tempered hopes that rain will improve field conditions. Rains from Friday into next week will offer timely moisture for corn that will be in the key
Mexico blocks pork shipments from world’s biggest hog plant in U.S.
Reuters – Mexico blocked all shipments from the world’s largest pork plant in North Carolina due to concerns about the quality of hog skins from the Smithfield Foods facility, the company said June 21. The halt in shipments from the plant in Tar Heel, in eastern North Carolina, is a hit to the U.S. pork
U.S. grains: Corn limit down as crop weather improves
Market retreats from rallies last week
Chicago | Reuters — Chicago Board of Trade corn futures sank by the daily limit on Tuesday as forecasts for cooler, wetter U.S. weather eased concerns about unfavourable crop conditions. Prices pulled back after climbing 12 per cent last week on lower-than-anticipated U.S. plantings estimates from the Department of Agriculture. The estimates made the market
U.S. livestock: CME feeder cattle futures jump as grain costs tumble
Chicago | Reuters — Chicago Mercantile Exchange feeder cattle futures climbed on Tuesday as a steep slide in grain prices made animal feed costs look cheaper, traders said. Traders are keeping a close eye on the grain markets after supply fears drove prices to eight-year highs during the spring. Corn and soy futures surged last
U.S. grains: Corn futures retreat on profit-taking
Corn still up 12 per cent on week; traders adjust positions before July 4 weekend
Chicago | Reuters — Chicago Board of Trade corn futures retreated on profit-taking on Friday, while soybean futures extended gains fueled by lower-than-expected U.S. acreage estimates and dry weather in part of the Midwest, traders said. Corn pulled back after surging by the daily, exchange-imposed limit on Wednesday when the U.S. Department of Agriculture shocked
U.S. livestock: Lean hog futures ease on China demand worries
CME August live cattle down
Chicago | Reuters — Chicago Mercantile Exchange hog futures weakened in the two most-active contract months on Friday as traders continued to dial in expectations for waning Chinese demand, analysts said. China, the world’s biggest pork consumer, has sought to rebuild its hog herd after it was decimated by an outbreak of the deadly pig
Stung by pandemic and JBS cyberattack, U.S. ranchers build new beef plants
CATTLE | A number of new operators are entering the fray, albeit at relatively small volumes
U.S. cattle ranchers and investors are sinking hundreds of millions of dollars into new beef plants after temporary closures of massive slaughterhouses at the start of the COVID-19 pandemic left farmers with nowhere to send animals. A cyberattack against the U.S. unit of Brazilian meatpacking giant JBS SA that idled nearly a quarter of America’s