During July, the region west of Toronto received 150-200 per cent of normal precipitation. North and east of Toronto, farmers received 115-150 per cent of normal rainfall with isolated pockets along the border receiving 150-200 per cent. Temperatures have been normal to three degrees cooler than normal. Conditions have been favourable for corn and soybean […] Read more
High quality Russian wheat influences all markets
Ontario corn at seasonal lows but European demand expected in fall
Klassen: Feeder market consolidates
USDA report considered supportive for Q4 fed cattle
Compared to last week, western Canadian yearling markets traded $2-$3/cwt on either side of unchanged. The steam appears to be coming off the market as larger volumes become available. Pastures have basically dried up in many areas of Western Canada, which has spurred on producer selling. The calf market was hard to define due to […] Read more
Klassen: Upward momentum in feeder market eases
Feedlots seen in 'risk assessment mode'
Compared to last week, western Canadian feeder cattle markets were relatively unchanged. Higher-quality groups of yearling heifers appeared to trade steady to $2 higher on average while steer markets traded $3-$4 higher to $2 lower. Calf prices are unchanged from seven days earlier. The rally in deferred live cattle futures has stalled for the time […] Read more
Timely rain and heat boost Ontario crop estimates
Declining U.S. crop quality could mean opportunities for Ontario growers in 2024
From June 22 through July 21, the Ontario growing region received 150 to 200 per cent of normal precipitation. Certain regions north of Windsor and north of Toronto received more than 200 per cent of normal rainfall. During the same 30-day period, temperatures were 2-3 degrees C cooler than normal west and south of Toronto. […] Read more
Klassen: U.S. feeder markets lead Canadian prices higher
Dry conditions in Saskatchewan and parts of Alberta are moving yearlings off grass sooner than expected
Compared to last week, Western Canadian yearling markets once again jumped $3-$5/cwt on average. Higher quality 900-pound steers are reaching up to the range of $310-$315/cwt. Comments from readers suggest that 850-900-pound steers are trading up to $315-$320/cwt. Calves in the 500-550-pound range are reaching just over the $400/cwt level. Dryer conditions in Saskatchewan and […] Read more
Trade surprised by June USDA acreage survey
Soybeans down, corn up from March report
As of July 8, the Ontario growing region has received average to above average precipitation while temperatures were one to three degrees below normal. Ontario corn, soybean and winter wheat crops have been developing under favourable conditions as the weather has been cooler and wetter than normal. Quick lookSoybeans: Strong competition from Brazil has reduced […] Read more
Klassen: tight supplies continue to underpin feeder complex
Feedlot operators shrug off past week's rally in the corn market
Compared to last week, Western Canadian yearling markets traded $2-$5/cwt higher on average while calves were up $5/cwt to as much as $10/cwt in some cases. Feather light calves under 500 pounds reached fresh historical highs with 300-400 pound steers trading from $400-$450/cwt in Southern Alberta. Finishing feedlots continue to be aggressive on yearlings for […] Read more
Klassen: Feeder market continues climb
Futures spur larger feedlots to lock in ownership
Compared to last week, quality yearling packages traded $6-$10/cwt higher. In some cases, prices were up as much as $12/cwt. Calf markets were relatively unchanged although the market was hard to defined due to limited volumes. Pastures are drying up in Saskatchewan and certain area of eastern Alberta. Yearlings from these regions are coming on […] Read more
Klassen: Feeder market consolidates at historical highs
Higher borrowing costs offset lower feed prices
For the week ending Saturday, western Canadian yearling steer prices were quoted $2-$4 higher; yearling heifers traded $2 higher to $5 lower. Calves were relatively unchanged although volumes were limited. Larger groups of quality genetics were well bid while second tier cattle were marginally discounted off the highs. Some ranches are liquidating yearlings about one […] Read more
Large acreage means bigger-than-average Ontario wheat crop
Lack of local demand keeps Ontario corn bids low despite broader market jump
The corn and soybean futures markets have incorporated a risk premium due to the uncertainty in production. Trades are comparing this year to 1998 when there was a widespread North American drought. As of June 24, southern Ontario received 60 to 85 per cent of normal precipitation over the previous 30 days. Isolated pockets received […] Read more
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