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.
For the week ending August 24, Western Canadian yearling prices were down $6-$12/cwt from seven days earlier. Calf markets traded $10-$12/cwt below week-ago levels. Larger numbers are coming on stream resulting in the softer tone.
Chicago Mercantile Exchange (CME) cattle futures ended higher on U.S. heat concerns and signs of better consumer demand on Tuesday, while lean hog futures set a 12-week high, analysts said.
Chicago Board of Trade corn, soybean and wheat futures strengthened on Tuesday, as a spell of hot weather hit the U.S. Midwest and the market took in weekly crop ratings from the U.S. Department of Agriculture, which all fell from last week.
Chicago Board of Trade (CBOT) most-active corn futures Cv1 fell to the lowest levels since 2020 on Monday as expectations of a bumper corn crop and a continued stream of farmer selling weighed on futures, analysts said.
Chicago Mercantile Exchange (CME) cattle futures turned higher on technical trading on Monday, as live cattle contracts rose on expected consumer demand and hopes of some cash market prices firming, traders said.
Chicago Mercantile Exchange cattle futures were mostly stable on Friday on pre-weekend positioning following a technical-driven selloff this week, traders said.
Soybeans rose while corn eased on Friday as traders covered short positions ahead of the weekend while monitoring an incoming heatwave that could threaten some crops in the U.S. Midwest, traders said.