Chicago Mercantile Exchange live and feeder cattle futures rose on Monday on fund buying and strong demand for beef, even as the red meat has become more expensive to consumers, said analysts.
Chicago Mercantile Exchange live cattle futures dipped slightly on Friday, while feeder cattle and lean hogs ticked up as traders squared positions prior to the release of the U.S. Department of Agriculture's Cattle on Feed report, after a choppy week of trading, analysts said.
Voluntary country of origin labelling (vCOOL) for beef and pork, biofuel tax credit changes, and an impending U.S. farm bill are three U.S. agriculture trends worth watching according to recent analysis from Farm Credit Canada (FCC).
Bill C-275, which was drafted protect farms from intruders who might spread animal diseases was amended in the Senate yesterday to include anyone who doesn’t respect biosecurity protocol.
Brazilian meatpacker JBS and Mexico's Sigma Alimentos are among those competing to acquire Oscar Mayer, the hot dogs and cold cuts business of packaged food giant Kraft Heinz, according to people familiar with the matter.
Chicago Mercantile Exchange cattle futures turned lower on Wednesday, amid a flurry of technical selling and uncertainty whether consumer demand for beef would chill after an E. coli outbreak was linked to McDonald's Quarter Pounder burgers, traders said.
Chicago Mercantile Exchange cattle futures pulled back from the previous week's rally on Monday as traders positioned ahead of Friday's U.S. Department of Agriculture Cattle on Feed report, analysts said.
China's pork production in the third quarter fell 0.8 per cent from a year earlier, government data showed on Friday, falling on an annual basis for a third consecutive quarter as poor meat consumption hampered slaughter rates.