Chicago Mercantile Exchange cattle futures touched their highest prices since November on Wednesday after severe winter weather has slowed weight gains for livestock and disrupted slaughtering, analysts said.
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U.S. livestock: Cattle futures hit November highs as traders focus on harsh US winter
Lean hogs ended slightly up after early plunge
Klassen: Yearling return to the lineup on strong demand
Frigid temperatures result in limited volumes
The market hasn’t missed a beat and started the year where it left in December. The only difference is there are larger supplies of yearlings coming on stream. The benchmark levels had backgrounded steers averaging 1,000 pounds trading from $280-$285/cwt with top bids rounding at $290/cwt. Steers averaging 850-pounds were averaging $300/cwt with top-notch larger groups peaking at $305.
U.S. livestock: live cattle, lean hogs fall amid weather, demand woes
Feeder cattle firmed amid dropping corn futures
Chicago Mercantile Exchange lean hog and live cattle futures were mostly down on Friday as concerns about winter weather and sluggish export demand had some investors shedding their positions.
U.S. livestock: Cattle futures rise as icy weather threatens US herds
Lean hog futures also finished higher
Cattle futures jumped at the Chicago Mercantile Exchange on Thursday on concerns over frigid temperatures that threaten U.S. herds, analysts said.
U.S. livestock: Live cattle dip in nearby contract; US beef plants reopen
Deferred live cattle futures and feeder cattle futures finished stronger
Live cattle futures eased slightly in the front-month contract on Wednesday as U.S. slaughtering began to recover from disruptions due to extreme winter weather earlier this week.
Klassen: Cattle producers anxious about 2024
No sales the first week of 2024 as markets assess inventory, plan strategy
The holiday break for the cattle market is analogous to an the intermission between periods of hockey game. Feedlot operators assess inventory and to focus on the market structure. They’re planning their purchase strategy for the next couple months.
U.S. livestock: CME live cattle retreat from one-month high, traders eye US weather
Lean hogs rose on hopes that U.S. cash prices had reached bottom
Live cattle futures on Monday rose to their highest level in more than a month before retreating as traders waited to see the impact of wintry weather on livestock in the central U.S.
U.S. livestock: Hogs extend gains after rally, end up 3 per cent for the week
Live cattle slipped somewhat but ended the week up 1.2 per cent
Technical buying and short covering boosted lean hog futures at the Chicago Mercantile Exchange on Friday, traders said, extending gains a session after the market climbed by its daily maximum.
U.S. livestock: Lean hogs finish weaker, set another contract low
Packers losing money processing beef due to tight supply
Chicago Mercantile Exchange lean hog futures set contract lows for a second consecutive session on Wednesday under pressure from ample supplies.
U.S. livestock: CME cattle hit November highs as lean hogs set contract lows
Large supplies of hogs continue to pressure futures, analysts said
Cattle futures stormed higher at the Chicago Mercantile Exchange (CME) on Tuesday, boosted by firmer U.S. cash trading last week, while hog futures set contract lows.