Markets
CHICAGO, Feb 13 (Reuters) – Chicago Mercantile Exchange live cattle futures sagged on Monday in advance of potentially lower cash prices this week as packers attempt to recover lost profits, said traders. February live cattle closed down 0.475 cent per pound at 115.925 cents, and April was 0.625 cent lower at 112.525 cents. Monday’s average […] Read more
Markets
LIVESTOCK-CME live cattle braces for possible weak cash prices
Viterra confirms elevator project at Vegreville
Grain growers near the town of Vegreville, Alta., are on the verge of getting not one but two new high-throughput concrete grain elevators, a scenario that will drastically change the way that grain is sold and delivered in the area. Regina-based grainhandler Viterra confirmed Feb. 13 that it will build a new high-throughput elevator near […] Read more
Australia produces record amount of wheat in 2016/17 season
SYDNEY, Feb 14 (Reuters) – Australian farmers produced a record amount of wheat during the 2016/17 season, the country’s chief commodity forecaster said on Tuesday, as ideal weather pushed the world’s fourth largest exporter to production levels of more than 35 million tonnes. Australian wheat output during the 2016/17 season was finalised at 35.13 million […] Read more
Canola gains $14.50 on the week, wheat up too
Canola futures rose everyday this week, supported by the record pace of exports and domestic crush. March canola posted a small gain on Friday, up only 70 cents to $527.80 per tonne but over the week, the price rose $14.50 or 2.8 percent. New crop November rose 80 cents to $507.30 today, but over the […] Read more
LIVESTOCK-Fund liquidation undercuts CME live cattle futures
CHICAGO, Feb 10 (Reuters) – Chicago Mercantile Exchange live cattle futures closed lower on Friday, hit by sell stops and fund selling after drifting below technical support levels, said traders. February live cattle closed 1.250 cents per pound lower at 116.400 cents, and April 1.675 cents lower at 113.150 cents. Both contracts slipped beneath their […] Read more
Snow, avalanches, rain delay grain movement to U.S. ports
CHICAGO, Feb 10 (Reuters) – Severe winter weather has slowed rail deliveries of crops to shippers in the U.S. Pacific Northwest, sending freight rates soaring and prompting Asian buyers to seek fill-in loads as they wait for the backlog at ports to clear. Blizzards, avalanches and heavy rain in recent weeks have hit transport of […] Read more
Low protein lowers price
Buyers of western Canadian soybeans are worried about protein. A few customers have expressed concerns about beans from Manitoba and Saskatchewan because protein levels in shipments have been below standard. Francois Labelle, executive director of the Manitoba Pulse & Soybean Growers Association, said the protein issue has come up at industry meetings this winter. “It’s […] Read more
Growing meat supply threatens cattle prices
NASHVILLE, Tenn. — The beef sector faces challenges from a growing U.S. herd, record meat supplies and labour shortages at packing plants just two years after enjoying strong profits from tight supplies of beef and competing meats. Flat U.S. household incomes reduce the likelihood of Americans eating a lot more meat. U.S. milk, poultry and […] Read more
CME live cattle futures end firmer, hogs mainly lower
CHICAGO, Feb 9 (Reuters) – Chicago Mercantile Exchange live cattle futures settled higher on Thursday, helped by technical buying and this week’s steady-to-firmer cash prices, said traders and analysts. They said the prospect of increased supplies capped back-month futures advances. February live cattle closed 0.875 cent per pound higher at 117.650 cents, and above the […] Read more
Glut of DDGs weighs down soymeal prices
CHICAGO, Feb 9 (Reuters) – U.S. supplies of animal feed are so plentiful that cash discounts to futures for soymeal fell to their widest level in at least 17 years this month and distillers’ dried grains (DDGs) are selling at their lowest prices in more than two years. While speculators in the futures market have […] Read more
