Washington | Reuters –– U.S. meat and poultry production will rise to a record 95.13 million pounds in 2015, with gains in pork and poultry output more than offsetting a slight drop in beef production, the U.S. Department of Agriculture forecast on Thursday. Total U.S. pork production was seen up 5.5 per cent at 24.09 […] Read more
U.S. pork production seen at record high in 2015, beef lower
Large unpriced corn, soy stocks seen overhanging Chicago futures
CNS Canada — Chicago Board of Trade (CBOT) corn and soybean futures saw choppy activity over the past week but large unpriced supplies of both commodities, held by farmers across the U.S. Midwest, will keep the long-term bias pointed lower, one analyst says. One trader said a lack of fundamental news and strength in the […] Read more
ICE weekly outlook: Canola reaching its upper range
CNS Canada — The ICE Futures Canada canola market moved higher during the week ended Wednesday, taking some direction from advances seen in Chicago soybean futures. But the market seems to be moving into its upper range and could be vulnerable to a downward correction going forward, according to Ken Ball of PI Financial in […] Read more
U.S. grains: Wheat tumbles after Egypt cancels U.S. tender
Chicago | Reuters –– U.S. wheat tumbled as much as two per cent on Wednesday, with benchmark Chicago Board of Trade (CBOT) futures falling the most in a week after top global wheat importer Egypt cancelled a tender seeking supplies from the U.S. Overbought technical conditions and profit-taking also pressured prices, with CBOT corn and […] Read more
U.S. livestock: Strong beef prices lift CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed higher on Wednesday on short-covering in response to the jump in wholesale beef values, traders said. February closed up 0.575 cent per pound, to 159.175 cents, and April 1.9 cents higher at 152.625 cents (all figures US$). Wednesday afternoon’s choice wholesale beef price rose […] Read more
BSE case born after tightened feed ban imposed
The beef cow that became Canada’s 19th case of BSE is now confirmed as Canada’s first-ever case to be born after tighter limits were imposed on use of cattle parts in livestock feed. Without specifying a home municipality, spokesmen for the Canadian Food Inspection Agency (CFIA) said on a conference call Wednesday that Case 19 […] Read more
U.S. buyer completes takeover of ag chem firm Arysta
U.S. industrial chemical producer Platform Specialty Products Corp. has sealed its deal to buy ag chemical firm Arysta LifeScience for about US$3.5 billion (C$4.35 billion). Miami-based, publicly-traded PSPC, which in the past year has bought ag chem firms Agriphar Group and Chemtura AgroSolutions, announced its plans to buy the Dublin-based multinational Arysta business last fall. […] Read more
India not to cut multi-billion dollar food handout program
New Delhi | Reuters –– India will not scale down its multi-billion dollar food welfare program that promises ultra-cheap rice and wheat to most of its people despite a high-level recommendation, a top government source said on Wednesday. A panel set up by Prime Minister Narendra Modi last month urged the government to lower the […] Read more
Klassen: Uncertainty looms for feeder cattle market
Western Canadian feeder cattle prices were steady to as much as $5 higher over the past week. Lighter-weight calves under 600 pounds experienced notable gains, while stronger buying interest was also noted on medium- to lower-flesh backgrounded cattle in the 800-pound-plus category. Major feeding operations were quick to discount cattle that appeared to have too […] Read more
U.S. ‘intransigence’ continues in WTO COOL hearing: officials
The U.S. government’s defense of its country-of-origin labelling (COOL) rule still shows “blatant protectionism and intransigence” according to Canadian officials at what’s expected to be the law’s last appearance before the World Trade Organization (WTO). U.S., Canadian and Mexican officials appeared Tuesday in Geneva before the WTO Appellate Body, where the U.S. hopes to overturn […] Read more