Alberta fed cattle prices have dropped nearly $15 over the past three weeks. Feedlot margins are deep in red ink, with losses amounting to $200-250 per head. Compared to last week, yearlings and calves over 700 lbs. traded $3-$5 lower; calves under 700 lbs. were down $5-$8 with some feeder markets in Alberta dropping as […] Read more
Author Archives
Klassen: Feeder cattle succumb to negative margins
Stable soybean prices could mean a lower drop in U.S. acres than expected
Chinese interest in buying Canadian soybeans remains quiet due to political tensions
Compared to two weeks ago, Ontario old crop soybean prices are up 15 to 20 cents per bushel while corn and wheat prices are unchanged. Adverse weather has caused farmer selling to come in below expectations. Therefore, basis levels are functioning to enhance farmer selling. Argentina continues to experience favourable growing conditions; timely rains have […] Read more
Klassen: Fed cattle weakness pressures yearlings
Compared to last week, western Canadian yearlings and calves over 700 lbs. traded steady to $3 lower on average. Weakness in the fed cattle market weighed on the heavier replacements. Alberta packers were buying fed cattle at $155 on a live basis, down $7 from the highs seven days earlier. Barley prices were up $3-$5 […] Read more
Klassen: Feeder market easily absorbs adverse weather
Western Canadian feeder markets were relatively unchanged from week-ago levels but there were a couple of unique characteristics in certain regions. Quality yearling packages were $2-$4 higher in Alberta but fleshier replacements were discounted. Eastern Prairie regions had grass cattle under 600 lbs. trading $3 to as much as $8 above week-ago levels. Order buyers […] Read more
Chinese demand for Canadian soybeans goes quiet
Traders are connecting Canada’s arrest of a Huawei employee with the slower demand
Compared to two weeks ago, Ontario grain and oilseed prices are relatively unchanged for old crop delivery positions. However, new crop prices are unchanged to slightly lower. Seasonally, farmer selling tends to increase in January while export demand moves through a slower period. Argentina corn and soybean crops have experienced favourable weather; however, Brazilian soybean […] Read more
Klassen: Fed cattle market lifts feeder prices
Compared to last week, western Canadian feeder cattle markets traded $4 on either side of unchanged. Early in the week, the market was rather sluggish but a fortuitous bounce in the live cattle futures quickly spilled over into the feeder complex. Yearlings and heavier calves ended the week $2 to $4 higher. Feeding margins are […] Read more
Soybean stocks mean trade truce could result in little price movement
Likely further weakness in the Canadian dollar could mean export opportunities
Ontario soybean, corn and wheat yields were higher than expected on Statistics Canada’s November crop survey. Despite the larger-than-expected production, Ontario prices are slightly higher this month for all grains and oilseeds due to stronger export demand. Ontario exports of corn, soybeans and wheat continue to exceed year-ago levels as the Canadian dollar trades near […] Read more
Klassen: Feeder market starts year with cautious tone
Western Canadian feeder cattle prices were relatively unchanged to slightly softer compared to mid-December. The market was lightly tested, with direct off farm to feedlot trade, but auction market activity was rather quiet. Winter conditions in southern Alberta caused buyers to be on the defensive, with lighter calves reflecting small discounts; however, vaccinated feeders on […] Read more
Klassen: Favourable margins support feeder market
There were no sales last week with auction barns closed for the holiday season; therefore, we start the year looking forward at factors that will influence the feeder market over the next month. While the feeder market was quiet, feedlot operators were surprised with the U.S. fed cattle market jumping US$3-$4 from seven days earlier. […] Read more
Klassen: Feeder market ends year on firm tone
Compared to last week, western Canadian feeder markets traded $3-$5 higher. Auction barns in the major feeding regions of Alberta had limited numbers on offer last week; therefore, major operations were sourcing feeders from farther distances. While most feedlots are carrying sufficient numbers, year-end buying was able set the market on a firm tone. April […] Read more
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