Markets
CHICAGO, Nov 6 (Reuters) – Chicago Mercantile Exchange live cattle closed lower on Monday, hit by profit-taking after last week’s sharply higher cash prices drove some trading months up by their 3-cents per pound daily price limit on Friday. Funds “rolled” the December contract and simultaneously bought deferred ahead of similar moves on Tuesday. Tuesday […] Read more
Markets
Profit-taking undercuts CME live cattle futures
U.S. biodiesel import limit opens door to canola
A biodiesel trade war in the United States should result in new demand for Canadian canola oil, says an economist. The U.S. commerce department issued a preliminary ruling last week paving the way for antidumping duties on imports of biodiesel from Argentina and Indonesia. The duties range from 54 to 70 percent on soy biodiesel […] Read more
India ponders pulse import limits
India is contemplating import duties on peas and lentils, says a commodity markets specialist. In an article he wrote for the Hindu Business Line, G. Chandrashekhar said the Indian government is at its wits end trying to figure out how to prop up low pulse prices. Market rates for pigeon peas are 20 percent below […] Read more
CME live cattle futures retreat from 5-month high
CHICAGO, Nov 2 (Reuters) – Chicago Mercantile Exchange live cattle on Thursday settled lower, pressured by profit-taking after futures posted new highs for the contract and reached their highest level in almost five months, said traders. December futures led decliners after funds “rolled” that month and at the same time purchased deferred contracts ahead of […] Read more
Northern Prairies beat south for honey production
This year’s drought in parts of Western Canada hurt honey production, but beekeepers in more northerly regions had a good to excellent honey crop. For example, producers in southern Alberta had a poor year but yields were better north of Calgary. “Everybody is pretty happy with their crop … for the majority,” said Mike DeJong, […] Read more
Special deal: three topics in one column
I’ll address several issues in this week’s column, from Saskatchewan crop yields to the value of the Canadian dollar to China’s changing support for domestic wheat producers. Currency dips The biggest market mover last week was the Canadian dollar’s decline to trade just below US78 cents. Only last month, most Canadian currency analysts predicted the […] Read more
China cuts wheat price to reduce production
BEIJING, China (Reuters) — China, the world’s top wheat producer, has cut its minimum purchase price for the grain for 2018 to help whittle its mammoth stockpiles and adjust to the market, the first such move since the policy was launched over a decade ago. Winter wheat is already seeded, so the impact of the […] Read more
Low protein U.S. soy crop dents meal quality; may hike feed costs
CHICAGO, Ill. (Reuters) — A protein shortfall in this year’s U.S. soybean crop has forced processors to cut the amount of the nutrient they can guarantee in soymeal, prompting concerns that animal feed costs could rise. Adverse crop weather this summer likely dragged down the protein content of soybeans, prompting concern that the soymeal produced […] Read more
Lights out on wheat, durum, barley contracts
What happens when a mall begins losing tenants and dark storefronts begin appearing? Shoppers will continue to go there for a little while, but there will be fewer of them, and then more shops will close and fewer and fewer people will visit the mall. Eventually it will become like a ghost town and usually […] Read more
Canfax report
This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattlemen’s Association. More market information, analysis and statistics are available by becoming a Canfax subscriber by calling 403-275-5110 or at www.canfax.ca. Fed prices jump The Canfax fed steer weighted average was $140.77 per hundredweight, up $3.08, while heifers […] Read more
