Dryness adds to bigger-than-expected U.S. cattle placements

CHICAGO, Feb 23 (Reuters) – Ranchers moved 4.4 percent more cattle into U.S. feedlots last month than in January 2017, the U.S. Department of Agriculture (USDA) reported on Friday, surpassing the high end of analysts’ average forecasts. Analysts partly attributed the placement outcome to severe drought in Texas and Oklahoma, along with continued dryness in […] Read more

U.S. pork demand strong, but trade disputes could hit exports

CHICAGO (Reuters) – American consumers are snapping up plentiful low-cost pork, but U.S. farmers are worried that trade spats with key export markets in China, Mexico and Canada could hurt a lucrative part of their pork business. The domestic demand outlook remains bright thanks to the strong U.S. economy, upcoming spring grilling season and Easter […] Read more

CME live cattle futures retreat from 7-week high

CHICAGO, Dec 29 (Reuters) – Chicago Mercantile Exchange live cattle Friday closed lower on technical selling and caution before cash prices by day’s end – but not before futures initially hit a 7-week high, said traders. Investors tweaked positions on the last session of 2017 for CME live cattle that gained 3.4 percent for the […] Read more

Supply worries knock CME feeder cattle to four-month low

CHICAGO, Dec 20 (Reuters) – Chicago Mercantile Exchange’s feeder cattle sank on Wednesday to a four-month low, hit by a selloff in live cattle futures as well as expectations for increased supplies, said traders. “You’ve got this cattle report coming out on Friday, and everybody says placement numbers are going to be up,” said JRS […] Read more

CME live cattle futures give back some Tuesday gains

CHICAGO, Dec 13 (Reuters) – Chicago Mercantile Exchange live cattle futures closed lower on Wednesday after softer wholesale beef demand and this week’s expectations for steady-to-lower cash prices erased some of Tuesday’s rally, said traders. Technical selling further weighed on CME’s live cattle market, they said. December live cattle finished down 0.500 cent per pound […] Read more

CME hog futures 3-month low on cash, pork prices

CHICAGO, Dec 11 (Reuters) – Chicago Mercantile Exchange lean hogs drifted to a three-month bottom on Monday, in response to lower cash and wholesale pork prices, said traders. Sell stops and deferred-month future’s premiums to CME’s hog index for Dec. 7 at 65.48 cents further weighed on contracts. December hogs, which will expire on Dec. […] Read more

Lower cash, pork prices pull down CME hog futures

CHICAGO, Dec 6 (Reuters) – Chicago Mercantile Exchange lean hogs finished lower on Wednesday, pressured by weaker cash and wholesale pork prices, said traders. The said fund liquidation further weighed on the market. December hogs, which will expire on Dec. 14, ended down 0.450 cent per pound at 63.825 cents. Most actively-traded February closed 1.550 […] Read more

CME feeder cattle futures 3-month low on fund selloff

CHICAGO, Dec 5 (Reuters) – Chicago Mercantile Exchange feeder cattle futures on Tuesday hit a three-month low, led by fund liquidation after contracts slipped beneath chart support levels, said traders. CME live cattle market selling, and as much as $5 per cwt lower cash feeder cattle prices, pressured the market, they said. January feeder cattle […] Read more

Cash price jitters drop CME live cattle to 4-1/2 month low

CHICAGO, Dec 4 (Reuters) – Chicago Mercantile Exchange live cattle futures slid to their lowest level in almost five months on Monday, led by the prospect that packers might pay less for supplies later this week, said traders. December live cattle finished down 0.850 cent per pound at 116.375 cents, and February ended 0.800 cent […] Read more