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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Livestock futures hit rough patch

Aug 23, 2011 03:54 PM

Livestock futures dropped in value Tuesday as cattle, feeder cattle and hog futures' slippage in price occurred during afternoon trading, according to published reports.

CattleNetwork.com reports wholesale beef prices demonstrated indications of weakness from cash cattle markets. Agrimoney.com reports feeder cattle supplies were of poor supply due to drought forcing smaller animals into feedlots. Bloomberg reports hog futures dropped for the first time in three trading sessions amid indications of sufficient amounts of supplies in the U.S. and signs of a reduced demand for the commodity.

"That excess pork" is applying pressure to prices, Don Roose, the chief of U.S. Commodities in Iowa, told Bloomberg. "The cash market is starting to soften up a little bit."

At 4:28 p.m. on Tuesday, cattle futures fell 0.41 percent, a .00475 cent slip to $1.15225 per pound. At 4:33, cattle feeder futures slid 0.2 percent, a 0.00275 cent drop to $1.343 per pound. At 4:33 p.m., hog futures lost 0.76 of value, a 0.00675 fall to 0.88325 cents per pound.

Thus far this year, hog futures have gained 11 percent in value.

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