CME lean hog futures LHQ24 closed limit down on Wednesday as a hefty oversupply and weak demand from consumers dragged futures lower, traders said.
Feeders
U.S. livestock: Hog futures close down the daily limit on oversupply
Tighter fed cattle supplies support feeder market
U.S. beef producers are not yet holding back enough heifers for expansion
During the first week of June, Alberta packers were buying fed cattle on a live basis at $261 per hundredweight, f.o.b, feedlot in southern Alberta, up $4/cwt from a month earlier. Market-ready supplies of fed cattle were sharply above year-ago levels earlier in winter, but the backlog has slowly been alleviated through the spring period. […] Read more
U.S. livestock: Cattle futures lower on dip in consumer demand
CME live and feeder cattle futures turned lower on Tuesday as cutout values fell and consumer demand waned following the end of major steak-eating holidays, traders said.
Klassen: Buyers tasting feeder cattle prices for fall run
For the week ending July 2, Western Canadian yearling prices were steady to $5 higher compared to seven days earlier for larger packages. Small groups of 800-pound-plus cattle were $10 to $15 discounted to pen-sized lots. Calf markets were relatively unchanged from the prior week, although volume was limited. There is significant open demand for yearlings and finishing feedlot operators are watching how prices develop.
U.S. livestock: Cattle futures lower, hogs mostly down on demand questions
Chicago Mercantile Exchange cattle futures turned lower on Monday, shedding a post-holiday rally on demand concerns and news that beef-loving Argentines are cutting back on buying steaks as the country's economy slumps.
Agreement reached at Guelph Cargill plant
Nearly 1,000 unionized employees at Cargill Dunlop in Guelph ratified a new collective agreement on Saturday July 6. The workers, represented by Local 175 of the United Food & Commercial Workers (UFCW), began strike action after turning down a deal on May 26.
U.S. livestock: Live cattle futures continue rally on steady demand
Chicago Mercantile Exchange live cattle futures closed higher on Friday as consumer demand for beef remains high and as U.S. cattle herds continue to undergo a period of contraction, traders said.
Guelph Cargill strike vote to take place Saturday
Striking workers at Cargill's Dunlop beef processing plant in Guelph have a recommended memorandum of settlement in place and they will vote on the possible deal on Saturday.
U.S. livestock: Cattle futures end higher in light pre-holiday trade
Chicago Mercantile Exchange live cattle futures closed higher for a second session on Wednesday, supported by strong wholesale beef prices and light technical trading ahead of the U.S. July Fourth holiday, traders said.
Rains partially collapse roof at Kansas Cargill plant
Cargill plans to resume slaughtering cattle on Friday at its Dodge City, Kansas, beef plant, after weekend rains caused a partial roof collapse, the company said on Tuesday.