Markets
CHICAGO, June 26 (Reuters) – Chicago Mercantile Exchange live cattle futures closed sharply higher on Monday, with the August contract up the 3-cent per pound daily price limit, helped by buy stops and fund buying, said traders. They said Monday morning’s wholesale beef price upswing and back-month futures’ discounts to last week’s cash prices offset […] Read more
Markets
CME live cattle ends sharply higher, shrugs off USDA report
Cattle price might dip on large U.S. feedlot placements
By Theopolis Waters CHICAGO, June 23 (Reuters) – U.S. ranchers during May drove 12 percent more cattle into feedlots than a year earlier, the most for the month in a decade, the U.S. Department of Agriculture reported on Friday, topping average predictions. Higher cattle prices paid by packers last month generated more profits for feedlot […] Read more
U.S. winter wheat protein levels remain low, premiums swell
CHICAGO, June 23 (Reuters) – Reports show average protein levels in the U.S. hard red winter (HRW) wheat crop are still the lowest in years, heightening concerns about quality as the harvest progresses in top producer Kansas. Premiums for high quality HRW wheat with protein of 12 percent or more have swelled to levels unseen […] Read more
Decline in canola halts, spring wheat up again
Canola futures ended the week on an up note, posting a small gain but over the week they fell. Today’s positive showing was mostly simply an adjustment after the decline, but canola did get support from slightly stronger soy oil and a small decline in the Canadian dollar. Over the week, July fell $4.50 a […] Read more
Rain too late for U.S. spring wheat
The U.S. spring wheat crop is still in trouble despite recent rainfall. Jim Peterson, marketing director of the North Dakota Wheat Commission, said the rain came too late for much of the crop in South Dakota, North Dakota and Montana. “You can’t call it a timely rain because a week sooner certainly would have been […] Read more
Canadian beef demand up despite higher prices
EDMONTON — U.S. cow herd expansion is the fastest in 40 years, yet the Canadian cattle population has remained stable for seven years. Recent Canadian census data showed Alberta had a three percent increase in beef cows for 2016. “We haven’t seen much change in our cattle growth, but we have seen more slaughter cattle […] Read more
Chinese beef buyers race to get hands on American steak
BEIJING (Reuters) — Chinese meat importers are racing to get their hands on the first shipments of beef from the United States in 14 years, as strong demand for premium steaks continues to grow in the US$2.6 billion beef import market. China and the United States this month settled the conditions for American beef exports […] Read more
Spring fed cattle market tops expectations
MOOSE JAW, Sask. — Cattle markets are doing better than Anne Wasko forecast last fall, but the analyst says producers shouldn’t get complacent. “What goes up will also go the other direction,” the president of Cattle Trends Inc. said after a presentation at the Saskatchewan Stock Growers Association annual convention June 12. Volatility continues to […] 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 cattle lower The Canfax weighted average fed steer price was $160.79 per hundredweight, down $9.95. Overall […] Read more
WP livestock report
Hogs rise Seasonally tight supplies and retail demand for barbecue pork products helped lift hog prices. U.S. hogs averaged US$84.72 on a carcass basis June 16, up from $76.61 June 9. The U.S. pork cutout was $95.63 per cwt. June 16, up from $92.45 June 9. The estimated U.S. weekly slaughter for the week to […] Read more
