Markets
PARIS, Dec 21 (Reuters) – Wheat production in Ukraine, a major exporter of the cereal, could drop by one third next year to 17.2 million tonnes after drought cut sharply the crop area, French consultancy Agritel said on Monday. Other forecasters also anticipate a steep fall in Ukrainian wheat output after the early autumn drought […] Read more
Markets
Ukraine wheat crop could drop to 17.2 million tonnes
Nearly half Brazil Mato Grosso soy crop in bad condition or worse
SAO PAULO, Dec 20 (Reuters) – Nearly half of the soy crop in Brazil’s agricultural powerhouse state of Mato Grosso is in bad or very bad condition due to irregular rain since the start of the season, a study by Mato Grosso Institute for Agricultural Economy (IMEA) showed. The study showed 20 percent of the […] Read more
COOL is DONE: U.S. repeals country of origin labelling for cattle and hogs.
Canadian cattle and hog producers are getting their Christmas gifts early this year. The U.S. Congress repealed country-of-origin labelling legislation Dec. 18 as part of a larger omnibus bill, averting a potential trade war in the form of more than $1 billion in retaliatory tariffs about to be imposed by Canada and Mexico. At press […] Read more
Brazil dryness boosts oilseeds
North American oilseeds experienced a happy Friday, while U.S. stock markets tumbled. But while the declines in U.S. stocks might have been propelled by fear of global economic weakness, the rise in the oilseeds was also a response to fear. “The beans were supported by talk of dryness in Brazil,” said Errol Anderson of Pro […] Read more
CME live cattle futures rally by 3-cent limit before report
CHICAGO, Dec 18 (Reuters) – Chicago Mercantile Exchange live cattle futures settled up by their 3-cents per lb price limit on Friday, driven by short-covering and technical buying, traders said. Investors tweaked positions ahead of Friday’s U.S. Department of Agriculture monthly Cattle-On-Feed report at 2 p.m. CST (2000 GMT). Spot December ended at 120.150 cents, […] Read more
Chinese leader sees new hope for trade
Prime minister Pierre Trudeau made history in the fall of 1970 when he established diplomatic relations with communist China. It’s been 45 years, but the Chinese have not forgotten. “The Chinese are very sentimental about historical milestones,” said Sarah Kutulakos, executive director of the Canada China Business Council. “Trudeau (represented) … the first major western […] Read more
Producers see major cattle price correction
What goes up must come down, and cattle markets are no different this fall. “We have seen some significant changes. This year we probably have lost $70 per hundredweight on our calf prices,” Brian Perillat, senior market analyst for Canfax, told the Alberta Beef Producers annual meeting in Calgary Dec. 9. “We lost a lot […] Read more
Weaker loonie to linger into 2016-17 crop year
Canola edged slightly higher last week, even as analysts increased their forecasts for South America’s soybean production and crude oil prices fell. Support came from solid soy oil prices and the low Canadian dollar, which fell to an 11 1/2 year low. The loonie is under pressure as crude oil prices fall on burgeoning stocks. […] 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 cattle fall Many feedlots deliberately pushed cattle from November into December hoping for a price recovery, […] Read more
WP livestock report
Hogs steady U.S. packers maintained bids to coax deliveries to match their strong slaughter plans. Good operating profits encouraged packers to maintain an elevated slaughter pace. Iowa-southern Minnesota hogs delivered were US$40-$40.50 per hundredweight Dec. 11, steady with $40.50 Dec. 4. U.S. hogs averaged $50.96 on a carcass basis Dec. 11, steady with $50.92 Dec […] Read more
