CME Daily Features
US - On Tuesday (22 July), USDA released the results of its monthly survey of about 800 public and private refrigerated warehouses and the results will likely be viewed as bullish for cattle and, to a lesser extent, for hog futures today, write Steve Meyer and Len Steiner. cale
US - Combined beef, pork and poultry production for week ending 19 July was an estimated 1.654 billion pounds, some 90 million pounds (- 5 per cent) below year ago levels, write Steve Meyer and Len Steiner.
US - Nearby hog futures have rebounded modestly in the past two trading sessions as market participants have been buoyed by the continued strength in hog and pork cash markets, write Steve Meyer and Len Steiner.
US - Lean hog futures turned sharply lower this week, with the August contract down the daily permissible limit of 300 points. Overnight trading was steady to lower as well, according to Steve Meyer and Len Steiner.
US - Thursday's edition of DLR remains germane to the current situation in the beef industry and published reports in "Meat & Poultry" and the "Dodge City Daily Globe" indicate that Cargill is making changes in response to falling cattle numbers by reducing the work force at its Dodge City harvest facility, write Steve Meyer and Len Steiner.
US - Lean hog futures have been drifting lower since establishing all time record highs in mid March. Yesterday futures continued to lose ground, with the June contract down as much as 205 points, write Steve Meyer and Len Steiner.
US - With recent publication of March slaughter figures and the passing of the end of April — and thus completion of the daily slaughter estimates for the month — it is probably appropriate to give an update of actual slaughter relative to the levels that DLR author Dr Steve Meyer had computed and discussed first in March.
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