Fleursdumal
फूल की बुराई
Come conseguenza del caso mucca pazza in Canada si è verificato il putiferio sul Cattle live (bestiame vivo) quotato al CME, tanto che è scattato il limit down. Cercherò di entrare short oggi anche se penso ci sarà un'altra sospensione visto che molti big stanno randellando pesantemente.
Tuesday May 20th 2003, 3:17 PM
ODJ CME Cattle Review: Limit Down On Canada Mad-Cow News
-- Wild Wednesday Expected
-- US Restricts Canadian Imports
By Jim Cote
Chicago, May 20 (OsterDowJones) - Chicago Mercantile Exchange live cattle futures locked limit-down in heavy, fast market selling Tuesday morning in advance of a Canadian government announcement that it had found its first case of bovine spongiform encephalopathy, better known as mad-cow disease.
Due to the discovery of BSE in Canada, the U.S. has shut its borders to all cattle and cattle product imports from that country, said U.S. Department of Agriculture Secretary Ann Veneman.
The USDA statement specifies that the U.S. "will not accept any ruminant or ruminant products from Canada pending further investigation," including a significant amount of live cattle and beef imports, OsterDowJones reported.
CME live cattle futures first heard the news early Tuesday morning from Cattle Buyers Weekly, which reported that a beef cow in Alberta was discovered to have BSE. At 1215 CT (1715 GMT), Canadian officials confirmed the findings in a news conference.
An 8-year-old, native-born Canadian beef cow, which showed symptoms of the brain-degenerative disease on Jan. 31, was diagnosed a few days ago, according to reports. Canadian officials stressed that it was "only one animal," which had been immediately condemned and destroyed and had not entered the "food chain."
"All appropriate measures are being taken in what appears to be an isolated case of bovine spongiform encephalopathy," said the USDA's Veneman, who added that the "risk to human health and the possibility of transmission to animals in the United States is very low."
According to USDA statistics, the U.S. imported 1.7 million head of live cattle and about 390,000 metric tons of beef and veal from Canada in 2002.
"The big question is what will Japan do?" said Steve Kay, editor of CBW. "Because the Canadian cattle industry is so closely tied to the U.S., will Japan also ban U.S. beef as they will probably do with Canadian products?"
In futures, all months closed at their limit-down floors, with Jun options trading at a synthetic value of $71.00, or 140 points lower than limit-down, which traders said could mean another limit-down session Wednesday.
"I have no idea what price cash live cattle will bring this week after this news," said one cash-connected floor trader.
Lead-month Jun had an estimated 600 contracts for sale and other contracts had similarly large quantities, although those counts are superfluous given the Canadian mad-cow news.
Feeder futures traded at a 50-point lower synthetic level with an unfilled sell pool in Aug containing 150 contracts and Sep and Oct 50 each.
Refco and Cargill were the major early sellers. "Refco came right out of the box as a big seller in the first four minutes," said one cattle pit broker.
"It's going to be a wild Wednesday," said Phil Stanley, CME floor-based independent analyst and trader. "We could be on the cusp of sizeable long liquidation given the tremendous technical chart damage that has been done by Tuesday's price plunge."
Funds, which usually trade by tracking a market's trend held huge long positions last week, according to the latest Commodity Futures Trading Commission commitments of traders survey.
The large speculative long category added another 5,253 contracts to their holdings through last Tuesday for a grand gross total of 48,951 contracts, which was 44.3% of last Tuesday's open interest.
Finally, the mad-cow news is expected to overshadow Tuesday's edition of the CBS Evening News featuring a story on an Ohio State University study of a growth promoter widely used in the U.S. cattle industry and whether its use can be tied to increases in the risk of breast cancer.
High Low Settle Change
Live Cattle MAY 77.10 75.55 75.55 dn 1.50 JUN 74.12 72.40 72.40 dn 1.50 AUG 70.15 68.35 68.35 dn 1.50
Feeder Cattle MAY 80.95 80.15 80.35 dn 0.48 AUG 84.65 82.97 82.97 dn 1.50 SEP 84.85 83.37 83.37 dn 1.50
Tuesday May 20th 2003, 3:17 PM
ODJ CME Cattle Review: Limit Down On Canada Mad-Cow News
-- Wild Wednesday Expected
-- US Restricts Canadian Imports
By Jim Cote
Chicago, May 20 (OsterDowJones) - Chicago Mercantile Exchange live cattle futures locked limit-down in heavy, fast market selling Tuesday morning in advance of a Canadian government announcement that it had found its first case of bovine spongiform encephalopathy, better known as mad-cow disease.
Due to the discovery of BSE in Canada, the U.S. has shut its borders to all cattle and cattle product imports from that country, said U.S. Department of Agriculture Secretary Ann Veneman.
The USDA statement specifies that the U.S. "will not accept any ruminant or ruminant products from Canada pending further investigation," including a significant amount of live cattle and beef imports, OsterDowJones reported.
CME live cattle futures first heard the news early Tuesday morning from Cattle Buyers Weekly, which reported that a beef cow in Alberta was discovered to have BSE. At 1215 CT (1715 GMT), Canadian officials confirmed the findings in a news conference.
An 8-year-old, native-born Canadian beef cow, which showed symptoms of the brain-degenerative disease on Jan. 31, was diagnosed a few days ago, according to reports. Canadian officials stressed that it was "only one animal," which had been immediately condemned and destroyed and had not entered the "food chain."
"All appropriate measures are being taken in what appears to be an isolated case of bovine spongiform encephalopathy," said the USDA's Veneman, who added that the "risk to human health and the possibility of transmission to animals in the United States is very low."
According to USDA statistics, the U.S. imported 1.7 million head of live cattle and about 390,000 metric tons of beef and veal from Canada in 2002.
"The big question is what will Japan do?" said Steve Kay, editor of CBW. "Because the Canadian cattle industry is so closely tied to the U.S., will Japan also ban U.S. beef as they will probably do with Canadian products?"
In futures, all months closed at their limit-down floors, with Jun options trading at a synthetic value of $71.00, or 140 points lower than limit-down, which traders said could mean another limit-down session Wednesday.
"I have no idea what price cash live cattle will bring this week after this news," said one cash-connected floor trader.
Lead-month Jun had an estimated 600 contracts for sale and other contracts had similarly large quantities, although those counts are superfluous given the Canadian mad-cow news.
Feeder futures traded at a 50-point lower synthetic level with an unfilled sell pool in Aug containing 150 contracts and Sep and Oct 50 each.
Refco and Cargill were the major early sellers. "Refco came right out of the box as a big seller in the first four minutes," said one cattle pit broker.
"It's going to be a wild Wednesday," said Phil Stanley, CME floor-based independent analyst and trader. "We could be on the cusp of sizeable long liquidation given the tremendous technical chart damage that has been done by Tuesday's price plunge."
Funds, which usually trade by tracking a market's trend held huge long positions last week, according to the latest Commodity Futures Trading Commission commitments of traders survey.
The large speculative long category added another 5,253 contracts to their holdings through last Tuesday for a grand gross total of 48,951 contracts, which was 44.3% of last Tuesday's open interest.
Finally, the mad-cow news is expected to overshadow Tuesday's edition of the CBS Evening News featuring a story on an Ohio State University study of a growth promoter widely used in the U.S. cattle industry and whether its use can be tied to increases in the risk of breast cancer.
High Low Settle Change
Live Cattle MAY 77.10 75.55 75.55 dn 1.50 JUN 74.12 72.40 72.40 dn 1.50 AUG 70.15 68.35 68.35 dn 1.50
Feeder Cattle MAY 80.95 80.15 80.35 dn 0.48 AUG 84.65 82.97 82.97 dn 1.50 SEP 84.85 83.37 83.37 dn 1.50
). Sarebbe stato interessantissimo avessero proposto insieme a imiweb una piattaforma con cui poter operare online , risparmiando agli aficionados italiani più esigenti di andare alla ricerca di broker inglesi o americani, ma chissà che non avvenga prima o poi se aumenta l'interesse sulle commodities
