Chicago | Reuters — Most Chicago Mercantile Exchange hog contracts ended lower on Thursday after profit-taking and uneasiness over U.S. trade with Mexico pared some of Wednesday’s gains, said traders. On Tuesday Mexico’s economy minister said that country will import more pork from Europe after placing a 20 per cent duty on U.S. pork in […] Read more
U.S. livestock: CME hogs mostly lower on profit-taking, trade worries
U.S. livestock: Strong cash prices reverse CME hogs’ losses
Chicago | Reuters — Chicago Mercantile Exchange lean hogs on Wednesday closed up sharply, spurred by short-covering and escalating prices for slaughter-ready, or cash, hogs that reversed Tuesday’s market losses, said traders. On Tuesday, some CME hog contracts day fell more than two per cent after Mexico imposed tariffs on U.S. pork following Washington’s higher […] Read more
U.S. biofuels deal reported to be delayed indefinitely
Reuters — The Trump administration has indefinitely delayed a proposed overhaul of U.S. biofuels policy aimed at reducing costs for the oil industry, under pressure from corn state lawmakers who worry the move would undermine demand for ethanol, according to two sources familiar with the matter. The White House had been poised to announce reforms […] Read more
Mexico hits back on U.S. steel, slaps tariffs on pork, bourbon
Mexico City | Reuters — Mexico responded in kind to U.S. President Donald Trump’s metals tariffs by imposing its own duties on U.S. steel on Tuesday, while also targeting politically sensitive agricultural products from pork to bourbon. Mexico’s peso tumbled to its weakest level since February 2017, leading losses among major currencies due to the […] Read more
U.S. livestock: CME hogs slump following Mexico tariff news
Chicago | Reuters — Some Chicago Mercantile Exchange hog contracts on Tuesday fell more than two per cent at one point after Mexico announced it imposed tariffs on U.S. pork, traders said. Mexico imposed tariffs on U.S. products ranging from steel to pork and bourbon in retaliation for higher import duties by Washington on Mexican […] Read more
U.S. livestock: CME futures fall on grain market weakness
Chicago | Reuters — Chicago Mercantile Exchange hog and cattle futures fell on Monday, pressured by spillover weakness from sharp declines in the grains markets, traders said. Concerns about demand from China added to the bearish tone hanging over the hog markets futures after weekend trade talks between Beijing and Washington ended without any deals […] Read more
U.S. livestock: Bargain buying, short-covering lift CME hogs
Chicago | Reuters — Chicago Mercantile Exchange hog futures settled higher on Friday, with support from bargain buying and short-covering heading into the weekend, said traders. CME June hog futures led gainers after investors bought that contract and simultaneously sold deferred months in a trading strategy known as bull spreads, they said. June hogs closed […] Read more
Deere sues Precision Planting, claiming patent infringement
Reuters — U.S. farm equipment maker Deere and Co. on Friday sued Precision Planting and Agco Corp., accusing them of infringing on 12 of its patents. In filings to the U.S. district court in Delaware, Deere alleged that products made or sold by Precision Planting, including vSet seed meters along with SpeedTube products, infringed on […] Read more
U.S. livestock: Profit-taking, trade war fears upend CME hogs
Chicago | Reuters — Chicago Mercantile Exchange hog futures closed lower on Thursday, rocked by profit-taking amid worries that pork could suffer from retaliatory tariffs against the U.S., traders said. June hogs closed 0.7 cents/lb. lower at 76.625 cents (all figures US$). July ended 2.075 cents lower at 78.05 cents. Mexico threatened to reciprocate with […] Read more
U.S. livestock: CME live cattle limit up on short-covering
Chicago | Reuters — Chicago Mercantile Exchange live cattle on Wednesday settled up its three-cent-per-pound daily price limit, driven by short-covering and fund buying, traders said. They said CME live cattle garnered more support from higher wholesale beef values and future’s discount to early-week prices for market-ready, or cash, cattle. June and August live cattle […] Read more
Cyber-Savvy Farmer
