Chicago | Reuters — Chicago Mercantile Exchange lean hogs finished higher on Friday after short covering and bargain buying pared some of the market’s recent losses tied to fears about NAFTA negotiations, said traders. On Wednesday, Mexico said it would withdraw from the North American Free Trade Agreement, following Canadian government worries that the U.S. […] Read more
Tag Archives cattle futures
U.S. livestock: Hogs turn up on short-covering, bargain buying
U.S. livestock: Fund selloff, NAFTA concerns extend hog losses
Chicago | Reuters — Chicago Mercantile Exchange lean hogs closed lower for a second straight day on Thursday, pressured by fund liquidation and jitters about NAFTA talks, said traders. On Wednesday, Mexico said it would withdraw from the North American Free Trade Agreement (NAFTA) if the U.S. exits trade talks with Canada. Mexico is the […] Read more
U.S. livestock: NAFTA worries drag CME hogs from one-year high
Chicago | Reuters — Chicago Mercantile Exchange lean hogs on Wednesday slid from a one-year top earlier in the session, rattled by fund selling and Canadian government concerns over NAFTA talks with the U.S., said traders. Canada is increasingly convinced that President Donald Trump will soon announce the U.S. intends to pull out of the […] Read more
U.S. livestock: CME live cattle mount late-session rally
Chicago | Reuters — Chicago Mercantile Exchange live cattle closed moderately higher on Tuesday, following late-day short-covering and bargain hunting after three sessions of losses, said traders. Futures initially drew more support from their lower price compared to last week’s slaughter-ready, or cash, cattle returns. Market advances were limited by funds in CME’s livestock markets […] Read more
U.S. livestock: Cash prices propel CME hogs to one-year high
Chicago | Reuters — Chicago Mercantile Exchange lean hogs on Monday reached their highest level in almost a year as packers competed for supplies during the first full week of production after the New Year’s holiday, said traders. The February contract led the charge after investors bought that trading month and simultaneously sold deferred contracts. […] Read more
Klassen: Fed cattle market leads feeders higher
Alberta packers were buying fed cattle in the range of $280-$282 delivered on a dressed basis, which equates to $168-$171 on a live basis. Yearlings bought last summer are bringing back $150-$180 margin, which has reinforced buying enthusiasm. Western Canadian yearlings traded $3 to as much as $8 above week-ago levels; calves were relatively unchanged […] Read more
U.S. livestock: CME cattle drop daily limit on lower cash market sales
Chicago | Reuters – Chicago Mercantile Exchange live cattle futures fell sharply on Friday and hit daily trading limits on weaker cash market prices and easing concerns that frigid weather in feedlot areas could disrupt marketings. Fund selling, or “rolling,” of lead-month positions into deferred months ahead of similar moves early next week added pressure. […] Read more
U.S. livestock: CME cattle dip on mild Plains outlook, East Coast snow
Chicago | Reuters – Chicago Mercantile Exchange live cattle futures turned lower on Thursday in a technical selling and profit-taking setback and on concerns of a slowdown in beef demand in the storm-hit eastern United States, traders said. A winter storm continued its march up the U.S. East Coast on Thursday, with blizzard warnings from […] Read more
U.S. livestock: Hogs turn up on cash, wholesale pork prices
Chicago | Reuters – Chicago Mercantile Exchange lean hogs finished higher on Wednesday after stronger cash and wholesale pork prices pared some of Tuesday’s losses, said traders. Funds periodically sold, or “rolled,” lead-month positions into deferred months ahead of similar moves early next week. Monday will be the first of five days that funds in […] Read more
U.S. livestock: CME cattle rally on higher cash, beef prices
Chicago | Reuters – Chicago Mercantile Exchange live cattle futures rallied about 1.5 percent on Tuesday on fund buying and stronger cash cattle and beef prices, traders said. Frigid temperatures in U.S. Plains cattle producing areas also supported futures as such weather could slow down cattle weight gains, making them less available to packers. Actively […] Read more