Markets
Farmers probably haven’t been driving their tractors into the ditch with excitement while listening to markets news. It’s been a bit dull, to be honest. Some analysts think this mood might linger into summer unless something big happens. “People want more of a story, but the story is more of the same,” said Neil Townsend, […] Read more
Markets
Options offer way to profit from dull market
Big soybean potential holds back hope for canola rally
Farmers in the northern part of the Prairies, struggling against wet, cold soils to seed their canola crops, might wonder why the oilseed’s futures appear to be not reacting to the late planting. Conditions are such that the expected 22.4 million seeded canola acres might be scaled back. Also, delays and cool weather now could […] Read more
Canfax report
Fed cattle lower The Canfax weekly weighted average for fed steers was $170.57 per hundredweight, down $3.87 while heifers were down $3.42 to $169.81. Prices fell as the Chicago cattle futures market, the U.S. cash market and U.S. beef prices also all fell. American packers were buying for a short week because of the U.S. […] Read more
WP livestock report
Hogs rise Strong pork exports, reduced market-ready supply and expectations that retailers will feature more pork sales in June lifted hog prices. United States hogs averaged US$71.01 on a carcass basis May 26, up from $70.86 May 19. The U.S. pork cutout was $90.28 per cwt. May 26, up from $87.26 May 19. The estimated […] Read more
VIDEO: Canada’s agricultural markets update – May 31, 2017
D’Arce McMillan, The Western Producer markets editor, monitors trends in the North American and global agricultural markets. Each week he hosts a market video about crops. The video is designed to help viewers understand the forces responsible for changes in the trade. If agricultural markets are important to you, we have you covered.
Fund buying extends CME live cattle futures gains
CHICAGO, May 31 (Reuters) – The previous session’s Chicago Mercantile Exchange live cattle advances carried over into Wednesday, with support from fund buying and short-covering on the final trading session of the month, said traders. Futures’ discounts to this week’s initial cash prices provided additional market support, they said. June ended up 1.450 cents per […] Read more
Pork industry tracks source of ractopamine impeding China trade
Canada’s pork industry is trying to track down the source of the ractopamine contamination that has caused China to ban pork imports from one Olymel plant. So far only the one Olymel plant in Quebec has been delisted as an approved supplier to China and its managers are scrambling to find out how some of […] Read more
Argentina hit by double port strikes at height of grain harvest
BUENOS AIRES, May 31 (Reuters) – Private port grains inspectors in Argentina started a 48-hour wage strike on Wednesday, after government health inspectors called a three-day work stoppage a day earlier, also over pay. Wednesday’s strike by the URGARA inspectors’ union will halt movement of soymeal and other grains byproducts while the work stoppage announced […] Read more
China’s soybean buyers push to delay imports as processing losses grow
SINGAPORE/BEIJING, May 31 (Reuters) – China’s soybean importers are pushing to postpone or cancel cargoes mainly ordered from suppliers in Brazil as they rack up hefty losses processing the commodity into cooking oil and animal feed ingredients, said three trade sources. China, which buys around 60 percent of soybeans traded worldwide, took advantage of strong […] Read more
Canada pig feet shipment flagged in China for banned drug
WINNIPEG, Manitoba, May 30 (Reuters) – A Canadian shipment of pig feet to China, produced by Olymel LP, has tested positive for residues of banned growth drug ractopamine and may curb future trade, Canadian government and industry officials say. China views the tainted shipment as a “systemic failure” of Canada’s program that certifies pork sent […] Read more
