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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

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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
Cattle numbers likely to drop as prices hold steady
Livestock Markets, Markets

Cattle numbers likely to drop as prices hold steady

Lack of regrowth on pastures may send more cattle to market

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Prices at six of Manitoba’s eight cattle auctions didn’t see much movement overall for the week ended June 3. Now on a biweekly schedule, the auction marts at Ashern and Ste. Rose skipped this week, with their next sales on June 9 and 10 respectively. At Winnipeg Livestock Sales, field representative Scott Anderson said slaughter
Futures markets

ICE Canola Midday: Rain washing away new crop prices

Liquidation of old crop July continues

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By Glen Hallick, MarketsFarm WINNIPEG, June 11 (MarketsFarm) – New crop canola futures on the Intercontinental Exchange (ICE) were taking a hit at midday Friday, after rain fell on parts of the Prairies, but that wasn’t the only factor. Meanwhile, the liquidation of the July contract contributed to its losses. A Winnipeg-based trader said sharp
Global markets

Global Markets: One billion vaccine doses far from being enough says Oxfam

Calls for breaking of pharmaceutical monopolies on vaccines

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Compiled by Glen Hallick, MarketsFarm WINNIPEG, June 11 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – At the G7 summit in in the United Kingdom the member countries committed on Friday to providing one billion doses of COVID-19 vaccines to the world’s poorest countries. However, Oxfam
Futures markets

ICE canola down sharply Friday morning

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, June 11 (MarketsFarm) – The ICE Futures canola market was weaker Friday morning, falling in sympathy with the Chicago Board of Trade soy complex. Improving moisture conditions in the dry eastern Canadian Prairies contributed to the decline in canola, as traders took some of the weather premium out of the
Currency markets

Canadian Dollar and Business Outlook: Loonie, gold down

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WINNIPEG – The Canadian dollar declined on Friday despite rising oil prices. As of 8:42 a.m. CDT, the loonie was at US$0.8252 or US$1=C$1.2118 on Friday, compared to US$0.8269 or US$1=C$1.2094 when markets closed on Thursday. Crude oil prices continued their rise on Friday. Brent crude gained four cents per barrel to US$72.56. West Texas
CME July 2021 lean hogs (candlesticks) with June 2021 lean hogs (pink line), June 2021 live cattle (dark red line) and August 2021 live cattle (black line). (Barchart)
Livestock, Markets

U.S. livestock: Lean hogs end mostly higher

Cattle futures advance

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Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures were mostly higher on Thursday on elevated pork prices and strong demand, although profit-taking clipped some of the gains, traders said. Lightly traded June hog futures climbed to the highest for a spot month contract in nearly seven years. More actively traded nearby contracts
(OceanFishing/iStock/Getty Images)
Crops, Markets

Corn stocks cut in USDA WASDE report

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MarketsFarm — Corn ending stocks in the U.S. are forecast to be tighter than earlier expectations for both old- and new-crop, according to the U.S. Department of Agriculture’s world agricultural supply and demand estimates (WASDE) released Thursday. USDA projects 2021-22 ending stocks for corn to be at 1.357 billion bushels, a 150 million-bushel or 10
CBOT July 2021 corn (candlesticks) with 20-day moving average (yellow line), CBOT July 2021 wheat (orange line) and MGEX July 2021 spring wheat (dark green line). (Barchart)
Crops, Markets

U.S. grains: Corn jumps after USDA lifts export, ethanol demand view

Soybean crush cut by USDA, boosting 2020-21 ending stocks

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Chicago | Reuters — U.S. corn futures rallied on Thursday to their highest in a month after the U.S. Department of Agriculture (USDA) projected stronger demand from ethanol makers and exporters ahead of the next harvest. Soybeans were mixed as USDA unexpectedly reduced its view of processor demand this spring and summer in its monthly
Currency markets

Canadian Financial Close: C$ steady again

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By MarketsFarm WINNIPEG, June 10 (MarketsFarm) – The Canadian dollar held steady on Thursday, lacking any clear direction for the second day in a row as market participants continued to contemplate future interest rate policy moves from the Bank of Canada. The Bank left its key overnight rate unchanged at 0.25 per cent on Wednesday,

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