CME Daily Features
US - Beef and pork prices at the wholesale level has declined sharply since their peaks in 2014 but that has yet to show up in any significant way at the retail level, write Steve Meyer and Len Steiner.
US - There were no surprises in the USDA's latest World Agricultural Supply and Demand Estimates (WASDE) for livestock and poultry, write Steve Meyer and Len Steiner, whilst feed grain price forecasts have been lowered.
US - Total beef, pork, chicken and turkey production for week ending November 7 was estimated at 1.806 billion pounds, about 1.2 per cent lower than the previous week but 0.5 per cent higher than a year ago, write Steve Meyer and Len Steiner.
US - It has been quite a rocky week for livestock futures, with both cattle and hog contracts losing significant ground and, in some cases, trading at fresh contract lows, write Steve Meyer and Len Steiner.
US - The latest trade data confirmed what we already suspected, export volumes in September were sharply lower, leaving more product to be absorbed in domestic channels and adding to the downward price pressures for beef and chicken, write Steve Meyer and Len Steiner.
US - Hog slaughter last week was lower than expected and there will likely be some debate as to what is driving the recent pullback, and what implications it has for pork and hog prices, write Steve Meyer and Len Steiner.
US - Hog futures were lower on Thursday on reports of notably lower prices for both hogs and pork in cash markets. The decline likely did not come as a surprise to those that read our report on Wednesday, showing the sharp drops in the value of hams as well as the seasonal tendency for hog and pork prices to be weaker in late October and early November, largely due to large slaughter weeks and heavier weights.
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