By Theopolis Waters CHICAGO, Jan 28 (Reuters) – Chicago Mercantile Exchange lean hogs closed sharply higher Wednesday on short-covering that earlier drove futures to their biggest one-day gain in four months at over two percent. The electronic is currently trading and is up 1.8 pct. February closed 2.100 cents per pound higher at 71.525 cents, […] Read more
News
CME hogs see biggest rally in four months, cattle up
U.S. biofuel change pressures soy oil and canola
A rule change in the United States that makes it easier for biofuel makers in Argentina to selll their product in the United States slammed soy oil future down and canola also fell hard. The Argentine biodiesel will more easily compete with American biodiesel and reduce the demand for soy oil. Soy oil fell about […] Read more
U.S. pork group convinced COOL is doomed
BANFF, Alta. — The head of the National Pork Producers Council is convinced the United States will lose its final attempt to defend mandatory country-of-origin labelling at the World Trade Organization. Howard Hill, an Iowa producer and veterinarian, also believes some form of labelling on retail meat is unavoidable. “We do realize today that there […] Read more
CN increases quarterly revenue by 17 percent
CORRECTION – February 9, 2015 – This story originally contained two errors. CN’s fourth-quarter 2014 net income was $844 million, compared with net income of C$635 million for the same quarter of 2013. CN’s full year earnings for 2014 were C$3.167 billion, compared with C$2.612 billion in 2013. The railway’s 2014 labour and fringe benefits […] Read more
CME live cattle biggest daily percentage rise in 6 months; hogs lower
By Theopolis Waters CHICAGO, Jan 27 (Reuters) – Chicago Mercantile Exchange live cattle posted their biggest one-day percentage increase in six months on Tuesday, driven up over 2 percent by bargain hunting, traders said. Speculative buying and short-covering helped boost nearby trading months to their 3.000-cents-per-pound price limit, which will result in an expanded limit […] Read more
Crop futures drift lower
Canola futures closed a little lower, pressured by commercial hedging and slower fund buying. Generally crop futures were slightly lower on a day when there was little new news about supply and demand. Canola had been higher midmorning as speculators bought canola and sold soybeans but then fund buying trailed off. Soybeans fell as exporters […] Read more
Drought keeps Brazil waterway closed as soy exports start
SAO PAULO, Jan 27 (Reuters) – A key waterway in Brazil used to transport grains, pulp and other bulk goods will not reopen, as planned, for the start of soy exporting season, the Sao Paulo state government said on Tuesday. The Tiete-Parana waterway has been closed since May, and rains in January, usually the rainiest […] Read more
Producers to meet Friday about manure with Man. gov’t
Manitoba hog producers will meet with provincial officials this week to discuss a long-standing grievance: anaerobic digesters. Last week, Manitoba agriculture minister Ron Kostyshyn said the government is willing to talk about provincial manure management regulations, which require new hog barns to have an anaerobic digester, or equivalent technology, to treat the phosphorus in pig […] Read more
Feed test checks for enzymes
Canadian Bio-Systems Inc. of Calgary has developed a quick on-site feed test. Called FeedCheck Express, the test is said to confirm the presence and activity of enzymes in complete and pelleted feeds, according to a company news release issued Jan. 27. No additional grinding or other processing of feed is required to make it work. […] Read more
Cargill likely to stay private, commits to Ukraine: CEO
MIAMI (Reuters) — Cargill Inc., one of the world’s largest privately held corporations and a top commodities trader, will likely remain private for at least another decade, the chief executive said on Tuesday as he assessed challenges facing the 150-year old company. David MacLennan, who has led Cargill for the past 13 months, also revealed […] Read more
