Litters for pigs reached their highest level which helped futures for hogs slip from their highest prices in four months, Bloomberg reports. According to information from the U.S. Agriculture Department, the herd that breeds hogs was 1.2 percent smaller on December 1 of this year as compared to the same date in 2009. For the… Read more.
A high supply of hogs and a decreasing demand for the commodity helped pushed prices down last week, Bloomberg reports. Those prices were the lowest since the middle of August. Prices for wholesale pork struck their lowest value since December 6 on December 21, when the price was 77.24 cents per pound. The average weight… Read more.
Indications of an abundant supply of pork in the U.S. prompted hog futures to slip, Bloomberg reports. Iowa and Southern Minnesota produced slaughtered hogs that weighed 2.6 percent more for the week ending December 11 than one year prior, according to the Agriculture Department. "There's still plenty of hogs," Lawrence Kane, a market adviser at… Read more.
Slowing demand for U.S. beef prompted cattle futures to slip, closing the commodity's worst week since early November, Bloomberg reports. Prices for wholesale-choice beef decreased the most in six weeks on Thursday as immediate-delivery steers lost 1.7 percent of their value as compared to one week ago, government data indicated. "From a retail end, they've… Read more.
Slipping demand for beef in the U.S. and speculation about how China will curb inflation has lowered cattle futures from a 26-month high, Bloomberg reports. Marking its first price decrease in five sessions, wholesale choice beef sank to $1.5864 a pound on Thursday, according to the U.S. Agriculture Department. Having ordered its banks to preserve… Read more.
Most commodity futures brokers and traders appear to be betting that tomorrow's report from the United States Department of Agriculture will show a decline in U.S. corn production and in global wheat inventories. Commodity investors are "not looking for a lot of changes in wheat, but they are looking for big changes in corn, and… Read more.
Every commodity futures broker and trader knows that Russia's wheat harvest got singed by soaring temperatures and a relentless drought this year – but it's now come out that the Black Sea region got so little rain that the planting of winter grain has been held back. Elena Skyrnnik, the Russian minister of agriculture, said… Read more.