Markets
CHICAGO, June 21 (Reuters) – U.S. lean hog futures were mostly higher on Wednesday, with the front-month contract rising to the highest levels in a year on support from rising prices for wholesale pork, traders and analysts said. Chicago Mercantile Exchange July lean hogs notched life-of-contract highs for the third straight session as investors continued […] Read more
Markets
Hog futures hit 1-year high as pork prices extend gains
Cattle settle mostly lower on technical selling, hogs mixed
CHICAGO, June 20 (Reuters) – U.S. live cattle and feeder cattle futures were mostly lower in a technical selloff on Tuesday, with each declining to the lowest levels in about two months before trimming losses. Broad selling in many commodities, led by crude oil, further weighed on cattle at the Chicago Mercantile Exchange. “We had […] Read more
Spring wheat slips after recent rally
Chicago corn fell more than two percent Monday and spring wheat dipped slightly after strong gains last week. Minneapolis July hard red spring wheat fell 3.25 cents on hopes that last week’s rain helped the American crop. “There are expectations that spring wheat (crop condition) numbers could improve a bit,” said Ken Ball, a broker […] Read more
Hogs surge to 1-year high on fund buying, pork price gains
CHICAGO, June 19 (Reuters) – U.S. hog futures surged as much as 4 percent on Monday, lifted by investment fund buying and higher pork prices that boosted meatpackers’ profit margins, traders and analysts said. Hogs on a continuous chart rose to the highest levels since last June 23. Most-active Chicago Mercantile Exchange August lean hog […] Read more
Weather drives spring wheat up 6.7 pct this week
Wheat futures rose again Friday, supported by concerns about the U.S. spring wheat crop, pockets of production problems around the world and short covering. Like Thursday it was the Chicago contract that led the way higher with July up more than 2.5 percent with funds covering short positions. The Minneapolis spring wheat July contact closed […] Read more
Cattle, hog futures mostly higher on short-covering
CHICAGO, June 16 (Reuters) – U.S. livestock futures were mostly higher on Friday, with cattle prices stabilizing after Thursday’s multiweek lows and hogs consolidating in the middle of their recent trading ranges. Most-active Chicago Mercantile Exchange August live cattle settled 0.675 cents higher at 118.175 cents per pound. June live cattle futures finished 0.800 cent […] Read more
Black Sea expects bumper wheat crop
Don’t expect any supply relief from Black Sea wheat, says an analyst. “We’ve got another bumper crop of wheat coming out of Ukraine and Russia,” said Mike Lee, owner of Green Square Agro Consulting. He recently conducted a five-day, 2,500 kilometre tour of fields in the main wheat growing regions of Russia and Ukraine. Following […] Read more
Hogs ease in technical selloff, cattle prices mixed
CHICAGO, June 15 (Reuters) – U.S. lean hog futures were mostly about 2 percent lower on Thursday, easing on technical selling and investment fund liquidation, traders and analysts said. Hog futures fell sharply to their session lows at 10:10 a.m. CDT (1610 GMT) in what two traders called a “flash crash,” before prices recouped a […] Read more
Bovine slaughter crackdown in India creates huge disruption
India’s central government has brought in a law that threatens to end the slaughter of cattle and buffalo in the country, raising the potential for the biggest change in the global beef market in decades. It is a shocking development, but its effect on beef markets has been negligible so far because most observers figure […] Read more
Oat futures disconnected from crop’s cash value
Oat futures are entertaining to watch but reveal little about the current value of the crop, say some traders. “It’s become less relevant over time,” said Paterson Grain oat trader Lorne Boundy, following recent futures market sessions that saw wild gyrations in oat prices. “What’s an oat really worth?” Chicago oat futures are thinly traded […] Read more
