Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures fell by an exchange-imposed limit for a second consecutive session on Thursday as commodities declined broadly. Selling by index funds fueled losses in markets from hogs to cattle and corn, after the U.S. Federal Reserve signaled it might raise interest rates sooner than expected,
U.S. livestock: Hogs limit down for second consecutive day
CME August cattle end lower
Rising beef prices squeeze carnivores from Buenos Aires to California
China’s appetite and higher feed prices see beef prices rise around the globe for consumers
Reuters – Beef prices are surging worldwide, taking meat off the menu in steak-loving Buenos Aires and spoiling summer barbecues in the United States as Chinese imports rise and the cost of feeding cattle soars. Globally, the surge is contributing to the highest food prices since 2014, according to the United Nations food agency, hitting
U.S. livestock: July hogs retreat after matching contract high
August live cattle up slightly, feeders down
Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures ended mixed on Tuesday after matching a contract high because of tight U.S. supplies and firm cash markets, analysts said. The hog market has surged this year due to strong domestic demand and solid export sales to China, the world’s biggest pork consumer. Profit-taking
JBS says all facilities operating after weekend cyberattack
Attackers 'never able to access our core systems'
Chicago | Reuters — All of meatpacker JBS SA’s global facilities are fully operational after a weekend cyberattack disrupted much of its North American and Australian operations, the company said on Thursday. The Brazilian meatpacker’s arm in the United States and Pilgrim’s Pride, a U.S. chicken company mostly owned by JBS, lost less than one
JBS plants reopen as White House blames Russia over hack
Washington/Chicago | Reuters — JBS SA employees started returning to U.S. meat plants on Wednesday, a day after the company’s beef operations stopped following a ransomware attack, disrupting meat production in North America and Australia. A notorious Russia-linked hacking group is behind the cyberattack against JBS, a source familiar with the matter said. Brazil’s JBS
U.S. livestock: Cattle futures fall on cyberattack at JBS
July hogs touch contract high
Chicago | Reuters — Chicago Mercantile Exchange (CME) cattle futures tumbled on Tuesday after JBS stopped slaughtering at U.S. plants because of a cyberattack. Brazil’s JBS told the U.S. government that a ransomware attack on the company originated from a criminal organization likely based in Russia, according to the White House. It is not known
Ransomware attack on JBS halts Canadian, U.S. slaughter
Cyberattack likely from Russia, White House says
Chicago/Aboard Air Force One | Reuters — Brazil’s JBS SA told the U.S. government that a ransomware attack on the company that has disrupted meat production in North America and Australia originated from a criminal organization likely based in Russia, the White House said on Tuesday. JBS is the world’s largest meatpacker and the cyberattack
Pork processor seeks to delay court decision limiting slaughter speeds
Reuters – U.S. pork processor Seaboard Foods wants to pursue a 10-1/2-month delay to a Federal Court decision that would force it to slow the speed of hog slaughtering at a massive Oklahoma pork plant, according to court documents. The second-biggest U.S. pig producer seeks to intervene in the line-speed case after a federal judge
Death of Chicago’s grain options pits hits traders as crop prices soar
Reuters – U.S. grain brokers and analysts on Wednesday lamented CME Group Inc.’s decision to permanently end open-outcry options trading at a time when crop prices are surging, saying that pit traders could help navigate volatile markets. The owner of the Chicago Board of Trade (CBOT) said May 4 it will never reopen physical trading
Barge backlog starts moving as Mississippi River reopens
Over 1,000 barges waiting to pass
Chicago | Reuters — The Mississippi River reopened to vessel traffic near Memphis on Friday, the U.S. Coast Guard said, ending a shutdown of part of the waterway that caused a backlog of more than 1,000 barges carrying oil, corn and other goods. The Coast Guard said the river is open to all vessel traffic
Cyber-Savvy Farmer
