Chicago soybean futures fell to a one-week low on Tuesday, with the benchmark contract Sv1 retreating back under $10 a bushel as better-than-expected U.S. crop ratings bolstered production prospects and eased worries about recent dry weather.
For the week ending September 7, Western Canadian yearling markets traded steady to $5/cwt higher in Alberta but steady to $6/cwt lower in Saskatchewan and Manitoba compared to seven days earlier. Major feedlots in Alberta appear to be focusing on local cattle. The calf market is in price discovery mode with prices quoted $10/cwt higher to $10/cwt lower.
U.S. soybean futures rose about one per cent on Monday, supported by fresh export demand, dry weather in the Midwest crop belt and uncertainty about the start of planting in Brazil, traders said.
Chicago Mercantile Exchange live cattle and feeder cattle futures rallied on short covering on Monday, analysts said, as the markets recovered from a slide last week.
Chicago Mercantile Exchange (CME) lean hog prices ended up slightly on Friday as analysts said a seasonal drop in pork prices toward the end of summer looked less drastic than expected.
Chicago soybean and corn futures rose on Thursday on short-covering and an uptick in export demand, though expectations for strong U.S. crop production limited gains, traders said.
Chicago Mercantile Exchange (CME) live and feeder cattle futures fell on Thursday on a decline in boxed beef prices, which have slumped leading up to the U.S. Labor Day holiday, analysts said.
Chicago Mercantile Exchange (CME) live cattle futures fell on Wednesday as boxed beef cutout values turned lower ahead of the U.S. Labor Day holiday on September 2, when many Americans light up their grills, traders said.
Chicago soybean and corn futures stumbled on Wednesday as traders assessed whether beneficial rain and forecasts for milder weather will aid the country's corn and soy crops during their final growing stages, analysts said.