Chicago | Reuters – Chicago Mercantile Exchange cattle futures turned higher on Friday, as traders anticipated U.S. government reports would show tight cattle supplies. After the market closed, the U.S. Department of Agriculture reported that the nation’s cattle herd was 94.2 million head as of July 1, a record low for that date. In a separate report, USDA […] Read more
Tag Archives cattle futures
Feedlot margins boost feeder cattle market
Feedlots are expected to bid up the price of feeder cattle so that margins in the deferred positions cover variable costs
Glacier FarmMedia – For the week ending Jan. 11, western Canadian feeder cattle prices were up $15-$20 per hundredweight compared to the week ending Dec. 21. In eastern Saskatchewan and Manitoba, quality packages of steers 800 pounds and heavier traded $20-$25 per cwt. higher compared to three weeks earlier. Alberta packers were buying fed cattle […] Read more
Cattle futures moderate, but prices should remain strong
Cattle futures prices have come off record high levels but should remain strong in 2024 because market-ready cattle supply will be tight. The price level will also be affected by how well the American and Canadian economies do in the coming year and how secure consumers feel. I wrote recently about the signs that inflation […] Read more
