Markets
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
Markets
Cattle, hog futures mostly higher on short-covering
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
Spanish drought may yield market opportunities
Drought in Spain will reduce Canada’s competition in an important durum market. Spain had an unusually hot and dry spring, which hampered crop development, according to a United States Department of Agriculture report. “The combination of limited water supplies, warm spring temperatures and windy conditions in some areas has provoked plants’ hydric stress and is […] Read more
Durum industry awaits ruling on Italian pasta labels
Officials representing the Canadian durum industry have returned from Europe where they met with European millers, pasta makers and trade groups to express concerns over an Italian plan to introduce country-of-origin labels on pasta products sold in Italy. Italy is often the top export destination for Canadian durum. Cereals Canada president Cam Dahl said meetings […] 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 up Western Canadian fed prices rose for the first time in four weeks, catching up […] Read more
WP livestock report
Hogs rise Seasonally tight supplies caused packers to compete for supply, lifting hog prices. U.S. hogs averaged US$76.61 on a carcass basis June 9, up from $72.98 June 2. The U.S. pork cutout was $92.45 per cwt. June 9, up from $91.40 June 2. The estimated U.S. weekly slaughter for the week to June 10 […] Read more
Strong demand supports feed barley price
Winnipeg, June 15 (CNS Canada) – Feed barley bids remain well supported in Western Canada, as solid demand and reluctant farmer selling keep the market underpinned heading into the summer months. “There is pretty decent demand. I’d say higher than average for this time of year,” said Brandon Motz, sales manager with CorNine Commodities in […] Read more
