(Photo courtesy Canada Beef Inc.)

U.S. livestock: CME live cattle extend losses, hogs mixed

Chicago | Reuters –– Chicago Mercantile Exchange live cattle losses on Tuesday spilled over into Wednesday, pressured by sell stops and fund liquidation despite sharply higher wholesale beef values, traders said. June closed 1.325 cents per pound lower at 150.675 cents (all figures US$). August finished down 1.5 cents at 150.325 cents after falling below




(Photo courtesy Canada Beef Inc.)

U.S. livestock: CME live cattle futures turn back early selling

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed higher on Monday, reversing initial weakness helped by short-covering and the morning’s wholesale beef price bounce, traders said. June closed up 0.55 cents per pound at 152.45 cents, and August 1.225 cents higher at 151.9 cents (all figures US$). Monday morning’s wholesale choice beef





U.S. Senate building

Progress on COOL, but Canada still threatening retaliation

U.S. Senate and Obama administration need to act quickly, warns Agriculture Minister Ritz

While the House of Representatives has voted strongly to repeal the country-of-origin labelling program, the Senate and the Obama administration need to act quickly as well, warns Agriculture Minister Gerry Ritz. Otherwise Canada along with Mexico will be putting their case for retaliatory duties to a special meeting of the World Trade Organization Dispute Settlement

(WTO.org)

U.S. seeks arbitration at WTO over COOL-related sanctions

The U.S. government has mounted a new defense at the World Trade Organization for its meat label law, this time seeking arbitration against Canada’s request for trade sanctions. The WTO Dispute Settlement Body (DSB) had been scheduled Wednesday to hear Canadian trade officials’ request to authorize over $3 billion in tariffs on U.S. goods, in formal retaliation



(CMEGroup.com)

U.S. livestock: CME live cattle again close mostly firm

Chicago | Reuters — For a second straight session most Chicago Mercantile Exchange live cattle contracts finished in modest positive territory on Tuesday pegged to bear spreading and speculative buying, traders said. The spreads consisted of traders who sold June futures ahead of its expiration on June 30 and simultaneously bought deferred months. June closed