Pasture lands have been stripped down to a sea of sand after wildfires tore across the U.S. Plains, killing cattle and wiping out their food sources, and threatening a historically small herd already linked to rising beef prices.
For the week ending February 14, Western Canadian feeder cattle prices were relatively unchanged compared to seven days earlier. The deferred live cattle futures have been consolidating in a narrow range over the past month, which has limited the upside in the feeder complex. Supplies of yearlings or replacements over 800 pounds are increasing as […] Read more
U.S. agribusiness Cargill will permanently close its beef processing facility in Milwaukee, Wisconsin, and eliminate 221 jobs, according to a filing with the state, the latest U.S. beef plant to be shuttered amid rising costs for meatpackers.
Chicago cattle futures jumped back up after Tuesday’s losses while hogs continued to slide. Most-active April live cattle contracts gained 3.550 cents to close at 240.975 cents per pound. June live cattle settled at 236.575 cents a pound, up 2.775 cents. Most-traded March feeder cattle closed at 367.450 cents per pound, up 2.675 cents. April […] Read more
Chicago Mercantile Exchange cattle and hog futures slipped back on Tuesday. Most-active April live cattle contracts lost 0.775 cents to close at 237.425 cents a pound. June futures settled at 233.800 cents a pound, down 0.525 cents. Most-traded March feeder cattle futures closed at 364.775 cents a pound, down 2.675 cents. April feeders settled at […] Read more
For the week ending February 7, Western Canadian feeder markets traded $10 higher to $10 lower compared to seven days earlier. The cash market was extremely volatile as the sell-off in the feeder cattle futures on Thursday, February 5, installed cautious tone amongst buyers late in the week. Fleshier cattle in smaller packages were discounted […] Read more