(Photo courtesy Canada Beef Inc.)

U.S. livestock: CME live cattle snap back on short-covering

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures on Friday shrugged off Thursday’s losses, with October up the three-cents/lb. daily price limit on short-covering and technical buying, traders said. October live cattle ended limit up at 104.4 cents/lb. after breaking through the 10-day moving average of 103.89 cents (all figures US$). December closed

(Photo courtesy Canada Beef Inc.)

U.S. livestock: CME live cattle stumble on weaker cash, beef quotes

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures finished lower on Thursday in response to the day’s fallen cash and wholesale beef prices, traders said. October live cattle ended 1.025 cents/lb. lower at 101.4 cents, and December 1.6 cents lower at 102.6 cents (all figures US$). Thursday afternoon’s choice beef price slumped $1.51/cwt





(Photo courtesy Canada Beef Inc.)

Klassen: Feeder market softens

Hope deferred makes the heart sick, goes the old proverb, and there is no greater example than in the cattle complex. Placid feedlot operators watched in dismay as fed cattle sold in the range of $133-$135 this past week, down approximately $6 from week-ago levels and $10 below breakeven pen closeout values. The stomach-churning fed




(Photo courtesy Canada Beef Inc.)

U.S. livestock: Bearish fundamentals halt CME live cattle rally

Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures ended lower on Wednesday following softer wholesale beef values and this week’s disappointing cash prices, traders said. The thinly traded August live cattle contract, which expired at noon CT, closed up 0.45 cent/lb. at 111.95 cents (all figures US$). Most actively traded October and December



(Photo courtesy Canada Beef Inc.)

Klassen: Feeder market stable but demand remains soft

Comments from the country this week suggested the market was slightly firmer than week-ago levels. However, market reports stated prices were relatively unchanged and actually softened late in the week. The old saying that even a priest lies about his car’s gas mileage applies to overly optimistic cattlemen trying to bolster market enthusiasm. Feedlot margins