Lean hog futures

Hog futures gain

June 17th, 2013

Hog futures rallied for the first time in three sessions on speculation that warmer weather will boost demand for U.S. pork as more consumers grill outdoors. Cattle prices were little changed.

Wholesale pork added 3.3 percent to $1.0432 a pound on June 14, the highest since Aug. 22, 2011, U.S. Department of Agriculture data show. Prices added 8.1 percent last week, the most in a year, USDA data show. Rains will be limited in the Midwest early this week and temperatures will be at or above normal for the next two weeks, according to an e-mailed report from Commodity Weather Group LLC in Bethesda, Maryland.

Continue reading »

Hogs Rally to Highest Since July

On May 30, 2013, in Hog futures trading news report, by Infinity Trading
lean hog futures

Hog futures rally

May 30th, 2013

Hog futures rose to the highest since July on speculation that U.S. pork exports to China, the world’s biggest consumer, will gain as Shuanghui International Holdings Ltd. takes over Smithfield Foods Inc. Cattle fell.

Closely held Shuanghui announced yesterday that it agreed to acquire the Smithfield, Virginia-based U.S. producer for about $4.72 billion. Shipments to Asian country this year would total 326 million pounds (148,000 metric tons) if the deal is completed, or 9.8 percent more than an earlier forecast, according to Brett Stuart, the chief executive officer of meat researcher Global AgriTrends.

“Meat is continuing to move,” Jason Golly, a vice president of risk-management marketing at Lynch Livestock Inc., said in a telephone interview. “There’s just great demand.”

Continue reading »

cattle futures brokers

cattle futures drop

May 23rd, 2013

Cattle futures fell for a second straight day on speculation that U.S. beef demand is easing. Hog prices also declined.

Retailers probably have already filled meat orders for grilling demand for the Memorial Day holiday weekend, which starts May 25, said Dick Quiter, an account executive at McFarland Commodities LLC. Meatpackers processed 373,000 cattle during the first three days of the week, down 0.5 percent from a year earlier, U.S. Department of Agriculture data show.

“Demand seems to be a little bit lighter than what they hoped,” Quiter said in a telephone interview from Chicago. “Most of the retail buying for Memorial Day and maybe out even into Father’s Day, they pretty much have got that locked up.”

Continue reading »

live cattle futures

Cattle futures rally

May 1st, 2013

Cattle futures rose for the first time in four sessions on speculation that U.S. beef demand will outpace supplies. Hogs fell.

Beef output in the U.S. will drop 4 percent in 2013, after the domestic cattle herd on Jan. 1 sunk to a 61-year low, government data show. Wholesale prices for the meat reached $1.9639 a pound yesterday, the highest in almost seven weeks, according to the U.S. Department of Agriculture. Consumers tend to start grilling outdoors at this time of year, boosting meat demand.

“Cattle numbers just aren’t that big,” Lawrence Kane, a market adviser at Stewart-Peterson Group in Yates City, Illinois, said in a telephone interview. “We’re probably going to go from winter to summer in 36 hours, and that will certainly make the retailer feel like there’s going to be some meat demand at the counter.”

Continue reading »

lean hog futures news

Hog futures rise

April 24th, 2013

Hog futures prices advanced the most in a week on signs of increasing demand for U.S. pork as temperatures rise and consumers buy more meat for grilling. Cattle also gained.

Wholesale pork prices increased 1.1 percent to 86.41 cents a pound yesterday, the highest since Feb. 1, government data show. The northwestern half of the Midwest has been at least 5 degrees below normal this month, and temperatures should rise to closer to normal for the next 6 to 15 days, according to Commodity Weather Group LLC in Bethesda, Maryland. More consumers tend to grill outdoors in warmer weather, boosting meat demand.

Continue reading »

cattle futures brokers

cattle futures prices fall

April 22nd, 2013

Cattle futures fell on signs of increasing supplies of animals in the U.S. Hog prices also dropped.

About 1.899 million cattle were placed in feedlots last month, up 6 percent from 1.792 million in March 2012, the U.S. Department of Agriculture said April 19. That compares to the 1.5 percent decline projected by 13 analysts surveyed by Bloomberg News. The placement figure was “pretty negative,” said Lane Broadbent, a vice president at KIS Futures Inc. in Oklahoma City.

“The thing that’s probably the most disappointing is there was so much optimism built in this market that we have such tight numbers,” Broadbent said in a telephone interview. “The demand is not there to make this thing be a lot better.”

Cattle futures for June delivery fell 0.3 percent to $1.20875 a pound at 10:22 a.m. on the Chicago Mercantile Exchange, heading for the third straight drop, the longest slide since March 15.

Continue reading »

lean hog futures charts

hog futures drop

April 17th, 2013

Hog Futures – U.S. hog farmers are poised to produce a record amount of pork at a time when exports are slumping the most in more than a decade, prolonging a global glut into a fifth consecutive year.

The 10.66 million metric tons produced will be the most since at least 1970, the U.S. Department of Agriculture estimates. Exports fell 14 percent in the first two months, the most for the period in government data since 2000. Futures may drop 20 percent to 72 cents a pound by the end of the year on the Chicago Mercantile Exchange, based on the median of nine trader and analyst estimates compiled by Bloomberg.

Demand for pork from the U.S., the biggest exporter, is weakening as importers from South Korea to Japan expand domestic output. Exports are also retreating as China and Russia, the largest buyers after Japan, curb purchases of meat produced with ractopamine, a feed additive used in the U.S. Farmers are expanding output because costs are dropping as grain prices tumble from records set during last year’s drought.

Continue reading »

cattle futures charts and quotes

Cattle Futures Move Higher

April 16th, 2013

Cattle futures rose on speculation that U.S. meat purchases will increase as the weather warms up and more consumers grill outdoors. Hog prices also climbed.

Wholesale beef rose 0.2 percent to $1.8989 a pound yesterday, the first increase in almost a week, U.S. Department of Agriculture data show. Meatpackers processed 122,000 cattle yesterday, up 5.2 percent from the previous week, government data show.

Prices are increasing on “the optimism that we’re getting closer to a timeframe that temperatures do start to warm up and better grilling and better demand,” Don Roose, the president of U.S. Commodities Inc. in West Des Moines, Iowa, said in a telephone interview.

Continue reading »

April 15th, 2013

Cattle futures fell to the lowest in nine months on signs of weak U.S. beef demand amid cold weather and slow exports. Hog prices also dropped.

Wholesale beef slid 0.9 percent last week to $1.8952 a pound, a two-week low, U.S. Department of Agriculture data show. The forecast for the central and eastern U.S. is cooler than expected for the next six to 10 days, according to an e-mailed report from MDA Weather Services today. A “cool trough” will also linger near the East, the weather service said. Consumers grill outdoors during warmer weather, increasing meat demand.

“This week the market is expected to remain flat as spring beef demand has yet to pick up due to cold, wet weather throughout much of the country,” Troy Vetterkind, the owner of Vetterkind Cattle Brokerage LLC in Thorp, Wisconsin, said in an e-mailed report. The chuck and round cuts of beef “continue to be hampered by slack exports and soft domestic demand.”

Continue reading »

April 12th, 2013

Hog futures fell, heading for the second straight weekly loss, on signs that cool weather across the U.S. is lowering demand for pork. Cattle advanced.

The forecast has turned cooler across the eastern and southern U.S. over the next 11 to 15 days, and a return to warmth “will be slower to evolve,” according to an e-mailed report from MDA Weather Services today. Meat purchases tend to increase when consumers grill outdoors during warmer weather.

“Our domestic demand is really holding us back,” Christian Mayer, a market adviser at Northstar Commodity Investments Co. in Minneapolis, said in a telephone interview. “The weather is what the weather is.”

Continue reading »