Western Canadian feeder cattle prices reflected a mixed tone over the past week with values $3 to $5 higher on vaccinated preconditioned calves; unvaccinated calves just off their mothers were $3/cwt to as much as $10/cwt lower in some cases. Yearling prices were also quite variable by as much as $10/cwt despite the tightening supply […] Read more
Klassen — feeder cattle market reflects mixed tone
U.S. livestock: CME live cattle futures end lower on weaker cash trade; hogs edge up
Chicago / Reuters – Chicago Mercantile Exchange live cattle ended lower on Friday, pressured by lower cash cattle prices and weaker overall commodities market, traders said. “The morning beef prices were not good, but commodities in general had a rough day and cattle aren’t immune to those changes,” said Dominic Varricchio, commodities broker at Schwieterman, Inc. CME live cattle futures […] Read more
U.S. grains: soymeal makes biggest monthly gain since 1976
Chicago / Reuters – U.S. soymeal climbed 2 per cent on Friday, capping the commodity’s best monthly performance since 1976, as short-term supply strains in the United States continued to fuel buying. Soybeans also rose sharply and corn turned higher late, following gains in soymeal, while wheat declined on pressure from multiyear highs in the dollar that made the crops less competitive […] Read more
Louis Dreyfus plant may resume canola crushing in 3-7 weeks
Winnipeg / Reuters – Louis Dreyfus Corp’s Canadian canola plant may resume receiving and crushing the oilseed in three to seven weeks, following last week’s explosion and fire, the president of the company’s Canadian unit said on Friday. Brant Randles, president of Louis Dreyfus Commodities Canada Ltd, said the company is working with contractors and engineers on a […] Read more
Market analyst warns soybeans could hit $7.00
Commodity News Service Canada – A surge in soybean values at a time when supplies are at a record level shouldn’t be mistaken for a breakdown in fundamental factors affecting supply and demand, according to the chief economist for AgResource. “The soybean market has gone up 12 to 13 per cent in the last 30 […] Read more
Concerns for low protein in U.S. soybeans
Reuters — Crop watchers have raised concerns that the massive harvest of soybeans in the United States may not contain enough protein for optimal soymeal production, forcing processors to scramble to find supplies suitable for crushing. A protein shortfall, stemming from a rainy spring and dry conditions as crops neared maturity, could add to the tightness […] Read more
U.S. and S. American farmers slow to sell
Reuters — The slow pace of crop sales by farmers that has hurt two of the world’s biggest grain traders will likely stretch into next year, the head of Bunge Ltd said on Thursday. The forecast for sluggish sales from Chief Executive Officer Soren Schroder may mean that Bunge and agribusiness rivals, including Archer Daniels […] Read more
Winter wheat seeding ‘perfect’ in EU
Commodity News Service Canada — Winter wheat planting conditions have been “perfect” in many areas of the Europe Union this fall, Leo Plaisier, partner at Agribrokers International said during a presentation at the Cereals of North America conference in Winnipeg. He added that acreage in the European Union is expected to increase slightly from last […] Read more
Cargill to close Man. grain facility
Reuters – Cargill Ltd. said on Thursday that it will close its Swan River, Manitoba grain facility, which includes two elevators, as of May 31, 2015. The facility would require costly upgrades if it remained open, Jeff Wildeman, regional manager of Cargill AgHorizons said in a statement. Cargill’s crop inputs facility in Swan River will remain open. The decision comes as Cargill […] Read more
U.S. livestock: CME live cattle futures hit record high; hogs slide
Chicago / Reuters – Chicago Mercantile Exchange live cattle reached a record high on Thursday, helped by futures’ discounts to last week’s cash cattle prices and short-covering after recent market losses, traders said. October, which will expire on Friday, closed up 1.500 cents per lb at 170.500 cents, and December was at 167.325 cents 0.575 cent higher. CME live cattle buying […] Read more