Rabo bullish on cattle, hog prices

On December 2, 2015, in cattle futures trading news report, by Infinity Trading
Feeder Cattle Futures

Feeder Cattle Futures

November 30th, 2015

Rabobank is bullish on 2016 live cattle futures, as it forecasts markets to “substantially less volatile” than this year.

And pork prices will rise above their current traded levels as well, as demand from China remains strong, the bank said.

Rabobank forecast live cattle prices to end 2016 at 152 cents a pound. The December 2016 futures contract is currently trading at 124.1 cents a pound.

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feeder cattle futures

feeder cattle futures

September 8th, 2015

Live cattle futures are narrowly higher Tuesday, buoyed by short-covering after falling last week to the lowest levels in a year, amid worries about demand in both domestic and export markets.

October cattle futures recently advanced 0.65 cent, or 0.5%, to $1.41125 a pound at the Chicago Mercantile Exchange, after falling 2.4% over the past week. Live-cattle futures for December recently picked up 0.775 cent to $1.4355 a pound. Feeder-cattle futures for September are up 0.575 cent to $2.01925 a pound, after slipping 0.5% last week.

The cattle market last week tumbled to the lowest levels in 15 months as a downward slump in wholesale beef prices sparked concerns about lukewarm buying interest among retailers and restaurants. Wholesale pork and poultry prices remain significantly cheaper than those for burgers and steaks, a factor that analysts say has contributed to the pressure on packers to move beef products in both domestic and export markets. This has given processing plants less incentive to bid aggressively for available cattle.

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cattle futures

cattle futures

July 22nd, 2014

Cattle futures surged to a record, signaling Americans will have to keeping paying more for burgers and steaks in the midst of barbecue season.

Shrinking U.S. livestock supplies have pushed meat prices to all-time highs. Ground beef reached a record $3.88 a pound in June, and boneless-sirloin steak climbed to a peak of $7.689 a pound, Bureau of Labor Statistics data showed today.

Futures climbed 17 percent this year after the U.S. cattle herd on Jan. 1 reached the smallest since 1951 as ranchers struggled to recover from years of drought. Prices for wholesale beef jumped 25 percent in 2014. Consumers have yet to balk at higher grocery bills, said Mark Schultz, chief market analyst at Northstar Commodity Investment Co. in Minneapolis.

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