Compared to last week, Western Canadian yearling or backgrounded steers prices were quoted $5 to $8 higher; yearling or backgrounded heifers were unchanged to $4 higher. Calves were trading $4 to as much as $10 higher.
Klassen: Statistics Canada confirms lower feeder cattle supplies
Precipitation in Alberta, Saskatchewan increases demand for grassers
Klassen: Feeder market shows signs of herd expansion
Some buyers suggest some heifers are being purchased for breeding
For the week ending February 17, Western Canadian prices for yearlings and backgrounded cattle were quoted $2-$4/cwt higher than seven days earlier.
Seasonal high corn demand expected in spring
The market is currently functioning to encourage demand; U.S. market will determine price next winter
Ontario wheat, corn and soybean prices consolidated during the first half of February. Export demand for Ontario corn and soybeans moves through a seasonal low during winter. At the same time, domestic soybean crushers have their nearby requirements covered. Feedlots and ethanol plants also have sufficient corn ownership. This environment causes spreads in the cash […] Read more
Klassen: Feeder market continues to climb
Canadian values appear to be one week behind the U.S. market
For the week ending February 10, Western Canadian the market for yearlings over 800 pounds was $3/cwt to $6/cwt compared to a week earlier. Feeder cattle suited for grass and calves were up $8/cwt to as much as $25/cwt in some cases compared to the week prior. Quality steers averaging 600 pounds were readily trading in the range of $410-$425 up from the range of $380-$395 last week.
Klassen: Canadian feeder market jumps on USDA data
The U.S. cattle herd reached lowest head count since 1950s, trade anticipates heifer retention
For the week ending February 2, Western Canadian feeder cattle prices were up $6/cwt to $12/cwt from seven days earlier. Certain pockets of Western Canada had grass cattle trading $12/cwt to as much as $20/cwt above the previous week.
Bump in 2023 U.S. corn yields surprises industry
On-farm stocks will be historically tight due to export demand
Ontario wheat, corn and soybean prices dropped 30 to 50 cents a bushel throughout January. Commercial grain companies in Ontario are holding larger stocks of the three main crops and have sufficient supplies to satisfy their nearby demand. At the same time, export demand moves through a seasonal low from January through March. The freeze […] Read more
Klassen: Positive fed outlook buoys feeder market
Market telling producers to own lighter cattle sooner rather than later
Western Canadian feeder cattle prices for 800-pound plus cattle were $2/cwt to $4/cwt higher on average for the week ending January 27. Feeders in the 500-800-pound category were up $3/cwt to $6/cwt with higher quality groups up as much as $10/cwt in some cases. Feeders 500 pounds and lower were unchanged from seven days earlier.
Klassen: Feeder market holds value despite negative margins
U.S. demand limited with colder temperatures in Midwest
Calf markets appeared to trade $2 to $3 above week-ago levels on average. Feedlot margins on current pen close-outs are negative $300 to $350 per head but replacement markets haven’t missed a beat. Finishing feedlots were once again bidding aggressively on backgrounded cattle with fleshier types experiencing limited slippage. Larger pen sized groups were on the higher end of the priced spectrum with buyers avoiding smaller packages.
Geopolitics at play in world wheat markets
A smaller Australian crop and depleting Russian supplies could affect wheat prices in coming months
Ontario wheat, corn and soybean prices came under pressure in early January due to steady farmer selling and a stronger Canadian dollar. The freeze-up of the lake system tends to result in basis deterioration for commodities moving east. Producer selling will ease later in winter and export demand will improve for all grains and oilseeds. […] Read more
Klassen: Yearling return to the lineup on strong demand
Frigid temperatures result in limited volumes
The market hasn’t missed a beat and started the year where it left in December. The only difference is there are larger supplies of yearlings coming on stream. The benchmark levels had backgrounded steers averaging 1,000 pounds trading from $280-$285/cwt with top bids rounding at $290/cwt. Steers averaging 850-pounds were averaging $300/cwt with top-notch larger groups peaking at $305.
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