MarketsFarm — Australia’s 2022 winter pulse crop will see its ups and downs, according to a quarterly crop report released Tuesday by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES). Chickpeas saw the largest projected production decline, dropping 41.5 per cent from the 2021-22 marketing year to 621,000 tonnes this year, Australia’s […] Read more
Pulse weekly outlook: Australia’s winter pulse production mixed
Prairies’ high-pressure ridge should give way by mid-month
Brisk harvest pace expected meanwhile
MarketsFarm — While there’s not one specific cause of the hot September the Canadian Prairies has generally been having so far, Weatherlogics chief scientist Scott Kehler notes one particular shorter-term factor. “There is a fairly strong upper-level ridge of high pressure across the Prairies right now,” he explained, adding it should dissipate by mid-month. The […] Read more
U.S. livestock: CME live cattle climb on cash market optimism
Lean hog futures also close higher
Chicago | Reuters — Chicago Mercantile Exchange livestock futures rose on Tuesday on hopes that the pace of slaughter of both cattle and hogs will pick up after slowing down for the U.S. Labor Day holiday weekend. Short-covering was also noted in hog futures after the front-month contract sank to its lowest since Feb. 9 […] Read more
U.S. grains: Soybean futures fall 1.5 per cent
CBOT corn, wheat firm
Chicago | Reuters — U.S. soybean futures fell 1.5 per cent on Tuesday as Argentina’s decision to offer farmers a better exchange rate for their crops threatened to raise export competition at a time when U.S. offerings typically dominate the market. “It just makes more product readily available short-term,” said Mark Schultz, chief analyst at […] Read more
Klassen: Feeder market ratchets higher
Compared to last week, western Canadian yearling prices markets traded $2-$5 higher on average. Calves were quite variable. This was the first week when larger groups of calves were featured on the internet sales. Prices on the internet appeared to be significantly stronger than smaller groups under 10 head moving through auction rings. Feedlot operators […] Read more
Federal funding lined up for programs, planning against swine fever
Two-year package to go toward pork industry work
The federal government is putting up an eight-figure funding wall to help prevent African swine fever from ever reaching Canada’s hog farms — and to prepare against any breach. Agriculture Minister Marie-Claude Bibeau said Aug. 26 the government will provide up to $45.3 million toward a three-pronged effort to boost disease prevention and preparedness: pork […] Read more
Prairie cash wheat: Bids mixed headed into long weekend
MarketsFarm — Despite projections that Canada will have a large wheat harvest this year, Western Canadian wheat bids were mixed for the week ended Thursday, largely due to a weakening Canadian dollar. Statistics Canada (StatCan) on Monday released its satellite imagery-based July principal field crop production estimates, which projected a total wheat harvest of 34.6 […] Read more
U.S. grains: Wheat, corn, soybeans bounce ahead of long weekend
U.S. dollar down on labour market data
Chicago | Reuters — U.S. wheat, corn and soybean futures rose on Friday on a short-covering bounce ahead of a three-day U.S. holiday weekend, led by strength in crude oil and other commodities as fears waned about aggressive interest rate hikes from the Federal Reserve. A rally in world stocks fizzled, but the U.S. dollar […] Read more
U.S. livestock: CME live cattle climb on cash market optimism
CME lean hogs slip on cash market pessimism
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures ended higher on Friday on expectations of higher cash cattle prices next week and position-squaring ahead of a long U.S. holiday weekend, traders said. Benchmark CME October live cattle futures settled up 1.75 cents at 144.55 cents/lb., with December up 1.675 cents at 150.25 cents […] Read more
U.S. livestock: Cattle futures up as corn prices sag
CME lean hogs end mixed
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures settled mostly higher on Thursday as lower grain prices propped up feeder cattle futures, signaling cheaper feed costs, traders said. Benchmark CME October live cattle futures settled up 0.225 cent at 142.8 cents/lb., a day after dipping to a four-week low (all figures US$). CME […] Read more