Latest news with #hogs
Reuters
3 days ago
- Business
- Reuters
China wants slimmer pigs
BEIJING, June 9 (Reuters) - Chinese farmers and small firms have increasingly bought market-ready pigs from larger breeders and fattened them in a bet on higher prices, but the government is cracking down on the speculative practice to slim down hogs and stabilise the market. For small breeders, "refattening" or buying adult hogs from big producers and feeding them for an extra few months until they put on an extra 40-50kg is a way to gamble on pork prices rising. But analysts say regulators are concerned the bets fuel big price swings and squander feed, in the latter case clashing with a national push to cut grain use in livestock, especially as the trade war with the U.S. underscores a long-standing goal to reduce dependence on food imports. "It can lead to short-term shortages followed by a glut, driving big price swings and unsettling the market," said Pan Chenjun, senior animal protein analyst at Rabobank. "The government seems intent on stabilising pork prices, which remain weak, while protecting small farmers from losses and curbing speculative behaviour," Pan added. Muyuan Foods ( opens new tab, China's top pig breeder, told state-run Beijing News in late May that it had halted sales to refatteners, after rumours of a policy meeting targeting the practice boosted pig firm stocks. A crackdown is already underway, according to a source directly familiar with the matter and two briefed by others involved, one of whom said Guangdong province in southern China is a particularly strict enforcer. The National Development and Reform Commission and Muyuan did not respond to Reuters' requests for comment. China, the world's biggest pork consumer, is grappling with weak demand and oversupply that have eroded margins. Cash hog prices have hovered around 14 yuan per kg since February, down from a peak of 21 yuan last August, according to MySteel data. Refattening boosts pork supply when the pigs hit the market and worsens price drops when the market is already falling, said Lin Guofa, senior analyst at Bric Agriculture Group, a consultancy. A 150-kg pig yields about 142% of the pork produced by a 115-kg pig, Lin added. Feed efficiency is also a concern as China looks to cut grain use in animal feed, especially with the trade war speeding its move away from the U.S. soybeans that mostly go into animal feed. Pigs are most efficient at around 120 kg - beyond that, they eat more but grow less, Pan said.
Reuters
4 days ago
- Business
- Reuters
Raging bulls: Funds pad historic longs in CME livestock
NAPERVILLE, Illinois, June 15 (Reuters) - Speculators have held unusually bullish views in U.S. cattle futures since late last year, which was perfect timing as the domestic herd hit a 74-year low at the beginning of 2025. Since then, U.S. beef prices have hit all-time highs, yet consumers have not relinquished their taste for the premium protein, and cattle futures have continued their climb. In the week ended June 10, money managers boosted their net long in CME live cattle futures and options to a 10-week high of 137,836 contracts. That is a record for the date but comparable with 2017 and 2014, both of which featured a steady easing of bullish bets from here. Funds' net long in CME feeder cattle hit a record high as of June 10, and they also extended bullish bets in CME lean hog futures and options for a ninth consecutive week. That brought their hog net long to 118,218 contracts, easily the highest ever for this time of year. Spot live cattle futures are up about 16% so far this year and hogs have jumped by a third. Both inked fresh contract highs within the last week. Over in grains and oilseeds, speculators were net buyers in the week ended June 10 of everything but corn and soybean oil, the latter perhaps regrettable given Friday's events. Money managers were net sellers of CBOT soybean oil futures and options for a fourth consecutive week through June 10, leaving them with a modest net long of 24,768 contracts. However, soyoil futures surged the daily limit on Friday, reaching one-month highs, as the Trump administration proposed higher-than-expected requirements for U.S. biofuel blending in 2026 and 2027. This could boost the demand for domestic soybean oil, particularly as foreign feedstock including used cooking oil from China would be discouraged. Despite the optimism, there was no word yet regarding small refinery exemptions, which could effectively reduce demand. The biofuel news lifted soybeans, which on Friday notched their highest closing price in a month at $10.69-3/4 per bushel. Money managers had increased their near-flat soybean position through June 10 to a net long of 25,639 futures and options contracts. Despite global soybean supplies set to hit record levels this year, speculators have maintained a mildly optimistic stance in recent weeks. U.S. crop prospects are relatively modest and depend on a record yield and a certain acreage, the latter of which could be at risk in favor of corn acres. The big U.S. corn crop expectations have turned funds into bears, as they have been net sellers in 15 of the last 18 weeks. Through June 10, they lifted their net short in CBOT corn futures and options to 164,020 contracts, up about 10,000 on the week. This increases investors' risk of having to abruptly cover corn shorts should U.S. weather turn unfavorable, but current forecasts do not suggest this is very likely in the near-term. Supportive spring weather boosted U.S. winter wheat conditions to the highest early-June levels in six years, and funds have noticed. Last month they established an all-time net short in Kansas City wheat futures and options, well past the previous record. Although they have been net buyers of K.C. wheat in the latest four weeks, their net short remains extremely heavy. Funds also bought Chicago wheat in the latest four weeks, cutting their net short to 94,011 futures and options contracts from 126,895 over that period. CBOT wheat futures surged more than 3% on Friday, motivated by strength in both the soy complex and crude oil. Crude contracts on Friday posted their largest intraday moves since 2022 after Israel conducted strikes on Iran, and both sides were still trading blows as of Sunday. Aside from the fresh Middle East conflict and any further U.S. biofuel news, grain traders must continue to monitor how U.S. weather is shaping up for the rest of June. Grain and oilseed futures have a history of crashing whenever nonthreatening weather is on tap for the U.S. Corn Belt into early July, when crops are setting up for the critical pollination phase. Karen Braun is a market analyst for Reuters. Views expressed above are her own. Enjoying this column? Check out Reuters Open Interest (ROI), opens new tab, your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis of everything from swap rates to soybeans. Markets are moving faster than ever. ROI, opens new tab can help you keep up. Follow ROI on LinkedIn, opens new tab and X., opens new tab
Zawya
5 days ago
- Business
- Zawya
Raging bulls: Funds pad historic longs in CME livestock: Braun
(The opinions expressed here are those of the author, a market analyst for Reuters.) NAPERVILLE, Illinois - Speculators have held unusually bullish views in U.S. cattle futures since late last year, which was perfect timing as the domestic herd hit a 74-year low at the beginning of 2025. Since then, U.S. beef prices have hit all-time highs, yet consumers have not relinquished their taste for the premium protein, and cattle futures have continued their climb. In the week ended June 10, money managers boosted their net long in CME live cattle futures and options to a 10-week high of 137,836 contracts. That is a record for the date but comparable with 2017 and 2014, both of which featured a steady easing of bullish bets from here. Funds' net long in CME feeder cattle hit a record high as of June 10, and they also extended bullish bets in CME lean hog futures and options for a ninth consecutive week. That brought their hog net long to 118,218 contracts, easily the highest ever for this time of year. Spot live cattle futures are up about 16% so far this year and hogs have jumped by a third. Both inked fresh contract highs within the last week. Over in grains and oilseeds, speculators were net buyers in the week ended June 10 of everything but corn and soybean oil, the latter perhaps regrettable given Friday's events. Money managers were net sellers of CBOT soybean oil futures and options for a fourth consecutive week through June 10, leaving them with a modest net long of 24,768 contracts. However, soyoil futures surged the daily limit on Friday, reaching one-month highs, as the Trump administration proposed higher-than-expected requirements for U.S. biofuel blending in 2026 and 2027. This could boost the demand for domestic soybean oil, particularly as foreign feedstock including used cooking oil from China would be discouraged. Despite the optimism, there was no word yet regarding small refinery exemptions, which could effectively reduce demand. The biofuel news lifted soybeans, which on Friday notched their highest closing price in a month at $10.69-3/4 per bushel. Money managers had increased their near-flat soybean position through June 10 to a net long of 25,639 futures and options contracts. Despite global soybean supplies set to hit record levels this year, speculators have maintained a mildly optimistic stance in recent weeks. U.S. crop prospects are relatively modest and depend on a record yield and a certain acreage, the latter of which could be at risk in favor of corn acres. The big U.S. corn crop expectations have turned funds into bears, as they have been net sellers in 15 of the last 18 weeks. Through June 10, they lifted their net short in CBOT corn futures and options to 164,020 contracts, up about 10,000 on the week. This increases investors' risk of having to abruptly cover corn shorts should U.S. weather turn unfavorable, but current forecasts do not suggest this is very likely in the near-term. Supportive spring weather boosted U.S. winter wheat conditions to the highest early-June levels in six years, and funds have noticed. Last month they established an all-time net short in Kansas City wheat futures and options, well past the previous record. Although they have been net buyers of K.C. wheat in the latest four weeks, their net short remains extremely heavy. Funds also bought Chicago wheat in the latest four weeks, cutting their net short to 94,011 futures and options contracts from 126,895 over that period. CBOT wheat futures surged more than 3% on Friday, motivated by strength in both the soy complex and crude oil. Crude contracts on Friday posted their largest intraday moves since 2022 after Israel conducted strikes on Iran, and both sides were still trading blows as of Sunday. Aside from the fresh Middle East conflict and any further U.S. biofuel news, grain traders must continue to monitor how U.S. weather is shaping up for the rest of June. Grain and oilseed futures have a history of crashing whenever nonthreatening weather is on tap for the U.S. Corn Belt into early July, when crops are setting up for the critical pollination phase. Karen Braun is a market analyst for Reuters. Views expressed above are her own. Enjoying this column? Check out Reuters Open Interest (ROI), your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis of everything from swap rates to soybeans. Markets are moving faster than ever. ROI can help you keep up. Follow ROI on LinkedIn and X. (Writing by Karen Braun; Editing by Matthew Lewis)
ABC News
7 days ago
- General
- ABC News
'They aren't dogs'. Misconceptions about mini pigs
A NSW pig sanctuary says she regularly hears from ill-advised owners adopting what they believe to be a mini-pig, only for them to grow into full grown hogs.
CBS News
15-05-2025
- CBS News
Man pleads guilty in murder-for-hire plot in which he planned to feed victim to hogs
A man has pleaded guilty to a murder-for-hire plot in which he planned to feed the victim's remains to hogs. Jeal Sutherland, 57, pleaded guilty to using an interstate commerce facility in a murder-for-hire scheme targeting a man who lives in the Albany, New York, area — a charge for which he could face up to 10 years in prison. Sutherland entered the plea Wednesday in federal court in northern New York. Court documents said Sutherland attempted to arrange the murder of a man who is the father of a child with Sutherland's ex-partner. As part of his plot, Sutherland agreed to forgive the debt of the person hired to do the killing. Sutherland also contacted a person who he believed was a hog farmer, intending to pay him for the use of his farm to dispose of the victim's remains by feeding them to the hogs. But according to court documents, the farmer was actually an undercover FBI agent. Sutherland was arrested in late January and the intended victim wasn't hurt. Prior to his arrest, Sutherland had also hired a different man to put a dead Canada goose with a threatening letter in its beak on the doorstep of the intended victim's mother, the Justice Department said. "Jeal Sutherland hatched a vicious plot to kill a romantic rival and intimidate his victim's family," United States Attorney John A. Sarcone said in a statement. In addition to prison time, Sutherland could face a fine of up to $250,000 and supervised release of up to three years. He is scheduled to be sentenced on September 22, 2025.
