Markets
CHICAGO, Feb 6 (Reuters) – Chicago Mercantile Exchange lean hog February futures scored a fresh contract high and deferred contracts scored monthly highs on Monday, fueled by firmer cash and wholesale pork values, said traders. February hogs ended 1.025 cents per lb higher at 71.350 cents, and hit a new contract high of 71.425 cents. […] Read more
Markets
Cash, pork prices boost CME hog futures to new highs
China’s farm policy increases focus on demand
BEIJING, Feb 6 (Reuters) – China is embarking on a major shift in its agriculture policy, abandoning its long-held obsession with self-sufficiency in favour of better meeting consumer demand, a key rural policy document shows. Breaking with the tradition of the past six years, the closely watched “number one document” published late on Sunday omitted […] Read more
Strategie Grains cuts EU rapeseed crop forecast on winter damage
PARIS, Feb 6 (Reuters) – Consultancy Strategie Grains cut by about 500,000 tonnes its forecast for this year’s European Union rapeseed harvest to 21.56 million tonnes, mainly due to expected damage to crops from severe cold last month in the east of the bloc. “Winter damage is expected to affect mainly Hungary and Bulgaria and […] Read more
StatsCan stocks in line with expectations, but questions remain
Winnipeg, Feb. 3 (CNS Canada) – Canadian canola stocks may be tighter than a year ago and wheat stocks larger, but the updated numbers from Statistics Canada may also need more asterisks than normal. StatsCan today pegged Canadian canola supplies as of Dec. 31 at 12.159 million tonnes. That was down from 13.452 million at […] Read more
What a difference a year makes
Canada’s wheat exports have been sluggish this year because of a poor quality crop and stiff competition from other regions, say analysts. Exporters shipped 6.6 million tonnes through week 25 of the 2016-17 campaign compared to 8.1 million tonnes a year earlier. The opposite scenario is unfolding south of the border where U.S. wheat exports […] Read more
Hogs extend gains on packer demand; cattle rebound
CHICAGO, Feb 2 (Reuters) – U.S. lean hog futures extended gains to a fresh seven-month high on Thursday, lifted by strong pork packer demand, while cattle futures also climbed in a short-covering rebound from Wednesday’s multiweek lows, traders and analysts said. Traders continued to bull-spread Chicago Mercantile Exchange lean hogs, with the front-month February contract […] Read more
Meal needs dedicated capacity
Canola crushers hope to see custom meal export facilities built on the West Coast because piggybacking on the regular grain-handling system isn’t adequate for long-term growth. With crushers and analysts expecting Canada to continually boost canola meal exports in coming years, the product needs to be treated right. “The lack of dedicated capacity to (handling) […] Read more
India seeds bigger winter pulse crop
As January ended, the weather in South America became more beneficial for soybean and corn production, and crop futures prices began to retreat from the rally earlier in the month. We could be in for a period of weakness in oilseed prices., and wheat prices continue their unimpressive drift. Analysts expect western Canadian farmers will […] Read more
U.S. December feedlot placements hit six-year high
CHICAGO, Ill. (Reuters) — Chicago cattle futures fell more than two percent Jan. 30, following a bearish cattle on feed report in the United States. American feedlots brought in 18 percent more cattle in December than in the same month in 2015, the U.S. Department of Agriculture said. That topped forecasts and reached a six-year […] 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. The Canfax weighted average live fed steer price was $158.32 per hundredweight, down $1.65, while heifers were […] Read more
