Chicago | Reuters — Chicago Mercantile Exchange live cattle ended mixed on Tuesday with nearby contracts supported by their discounts to recent cash prices, while back months sagged on forecasts for increased supplies ahead, traders said. February closed 0.65 cent per pound higher at 159.1 cents, and April up 0.125 cent, to 153.775 cents (all […] Read more
U.S. livestock: CME live cattle, hog futures close mixed
Bulk shipping cost index sinks to 30-year lows
CNS Canada –– The Baltic Dry Index, which tracks global bulk shipping rates, has fallen to its lowest levels in 30 years, which should make North American grains and oilseeds more competitive in the international market. The index (BDI) was quoted Monday at 554 points, the lowest reading since records start in 1985. The index […] Read more
U.S. West Coast port operations resume, more labour talks scheduled
Los Angeles | Reuters — U.S. West Coast port operations resumed in full on Monday after shipping companies suspended loading and unloading of freighters for the weekend, citing chronic cargo backups the shippers and dockworkers have blamed on each other during months of labour tensions. Reopening of the ports to cargo vessels idled by the […] Read more
Strike vote passes for CP engineers, conductors
Canadian Pacific Railway’s unionized conductors and engineers have voted to give themselves a trump card in talks with the company for a new contract. Eligible employees voted 93 per cent in favour of strike action “if necessary” to reach a negotiated settlement with the company, according to their union, the Teamsters Canada Rail Conference (TCRC). […] Read more
Klassen: Renewed buying interest drives feeder market
Western Canadian feeder cattle prices experienced extremely aggressive buying interest this past week. Feeder cattle in the 700-pound-plus category were trading $2 to as much as $8 higher in some cases, while lighter-weight cattle were steady to $5 above week-ago levels. I was extremely surprised by prices and comments after the dismal January market behaviour. […] Read more
Brazil’s grain traders fear monopoly if rail merger allowed
Sao Paulo | Reuters –– Brazil’s grain industry association, Abiove, said on Monday the takeover of the main railway operator America Latina Logistica (ALL) by Rumo, the logistic arm of the biggest sugar and ethanol producer Cosan, could create a monopoly and hurt competition. Cade, Brazil’s antitrust agency, is due to rule Wednesday on the […] Read more
U.S. grains: Corn, soy rise on short-covering ahead of USDA report
Chicago | Reuters –– U.S. corn and soybean futures edged higher on Monday, lifted by investor short-covering and position-squaring ahead of the monthly U.S. Department of Agriculture supply and demand report due on Tuesday. USDA said earlier that top soybean importer China purchased 120,000 tonnes of the grain within 24 hours, while analysts at AgRural […] Read more
U.S. livestock: CME hog futures resume slide to six-year low
Chicago | Reuters — Chicago Mercantile Exchange lean hogs returned to their lowest level in six years on Monday, pressured by softer cash prices and profit-taking after a futures rally last Friday, traders said. February closed 2.6 cents per pound lower at 61.275 cents, and April down 2.525 cents, to 66.75 cents (all figures US$). […] Read more
Hens near Chilliwack catch H5N1 avian flu
About 95 layer hens on a “non-commercial” farm near Chilliwack are the Fraser Valley’s latest cases of avian influenza, but not of the same strain seen at 12 other farms in December. The Canadian Food Inspection Agency on Saturday announced a quarantine on the Chilliwack farm after confirming, effective Feb. 2, that table egg-laying birds […] Read more
BMR hardware chain joins Coop federee
Agrifood processor and ag retailer La Coop federee has moved from minority stakeholder to full owner of home reno and hardware retail chain Groupe BMR. Coop federee, Quebec’s biggest agrifood company, announced Thursday it exercised an option in its 2013 purchase of a minority position in BMR, buying the retailer’s remaining shares and making it […] Read more