U.S. cattle producers have called on CME Group Inc and federal legislators to rein in price volatility they say has rendered the world's largest livestock futures market ineffective.
After a software error caused beef carcasses to be inaccurately reported for grades and weights, JBS is a paying a fine and reimbursing producers who were impacted.
U.S. red meat and poultry production is increasing at a rapid rate, and market analysts warn cattlemen to be prepared for pressure on prices the rest of 2018.
The forecast for total red meat and poultry production for 2016 is reduced from last month as slightly higher beef and pork production is more than offset by lower broiler production.
Cattle placed in U.S. feedlots for fattening surged by 10 percent in May, the U.S. Department of Agriculture said on Friday in data that suggested beef supplies will be ample and prices potentially lower in the third qu
There is potential for the market to move higher, but it will be difficult for prices to exceed the price achieved during the early November time period.
The key for cattle feeders will be to continue moving cattle through the system as being current in marketings has been a friend to the cattle feeder throughout 2017.
