CME Hogs Drop Seven Per Cent In August

CHICAGO/REUTERS U.S. hog futures on Aug. 31 finished down seven per cent for the month, livestock traders said. With the onset of cooler weather, hog weights have rebounded and put more hogs in hands of packers to pump more pork into the retail sector. In early August, the Midwest was in the grip of a


No Future For Pork Belly Futures

Chicago’s iconic pork belly market has closed after 50 years of being the subject of jokes for movies and TV shows and satisfying Americans’ hunger for bacon-lettuce-tomato sandwiches. The Chicago Mercantile Exchange shut down the frozen pork belly futures market at the end of business on Friday, July 15. The closing had been expected. Trading

Cattle Set 16-Month High On Strong Technicals

Cattle futures at the Chicago Mercantile Exchange set a new 16-month high March 9 in the active April contract on a mix of technical and fundamental factors. Cash beef prices are the highest in nearly 10 months due to less production and improving demand. Investors also are buying cattle futures amid concerns rain and melting


Frustrated Chicago Wheat Traders Seen Testing MGE

Frustrated wheat traders who say the Chicago Board of Trade Soft Red Winter wheat contract is no longer an effective hedging tool appear to be testing the waters in a new market – the Minneapolis Grain Exchange. Open interest in the MGE’s long-dormant, cash-settled Soft Red Winter Wheat Index futures has exploded over the last

CBOT Says It Is Still The Global Benchmark

Chicago Board of Trade, the world’s largest grain exchange, has no fear of its wheat contract being challenged as the global benchmark for prices by an upstart from Australia, a senior official told Reuters. Australia’s stock exchange operator, ASX Ltd., plans for its Hard wheat export futures contract to begin trading in May, opening up


Commodity traders grow weary of market swings

“Everybody got run over by the bus going east. They got up only to be run over by the bus going west.” – CME TRADER GARY LARK From his desk alongside the Chicago Mercantile Exchange (CME) trading floor, Jim Brooks is seeing more ill-tempered cattle and hog traders nowadays as they cope with fast-moving markets