For the week ending April 30, western Canadian feeder cattle prices were quite variable. Yearlings traded $8 lower as much as $5 higher. Severe discounts were noted on fleshier cattle; some auction barns reported the bulk of cattle over 800 pounds were medium to heavier flesh. Deferred live cattle futures were under pressure but the […] Read more
Klassen: Feedlot demand up prior to seasonal rally
Market for calves 'boiling hot' in Manitoba
Uncertainty continues to drive grain prices
High energy prices, inflation and export demand all supportive but weather woes could increase volatility
Ontario elevator bids for corn and soybeans made fresh 52-week highs during mid-April for both old and new crop positions. Ontario farm stocks of corn and soybean will drop to bin-bottom levels at the end of the 2021/22 crop year. The domestic market is functioning to ration demand by trading at a premium to world […] Read more
Klassen: Adverse weather tempers feeder cattle market
Compared to last week, western Canadian feeder cattle markets traded $3-$4 on either side of unchanged. Southern Alberta experienced severe wind and dust storms last week which softened buying interest from a large portion of feedlot operators. At the same time, grass conditions are quite variable across the Prairies despite the recent precipitation. Cooler temperatures […] Read more
Klassen: Yearling prices soften but calves drop sharply
Compared to last week, western Canadian yearling prices unchanged to $4 lower on average while calves were down $4 to as much as $8 in some cases. The steer-heifer spread appeared to widen by $2-$3 for yearlings and $3-$6 for calves. Adverse weather set a negative tone and the market appeared to incorporate a risk […] Read more
USDA crop reports surprise analysts
Despite export ban from Ukraine, there hasn’t been an increase in export demand for U.S. corn and wheat
The markets are in a transition stage. Earlier in March, the focus was on nearby tight fundamentals due to the limited export potential from Russia and Ukraine. The “war premium” in the grain and oilseed markets appears to be eroding. Higher prices caused acute demand rationing. Quick lookSoybeans: Ontario soybean stocks will reach historical lows […] Read more
Klassen: Feedlots value feeders on finished cattle price projections
Compared to the week ending March 2, western Canadian yearling prices were $3-$5 lower on average. Mid-weight replacements in the range of 650-800 lbs. were down $8-$12. Steer calves under 650 lbs. traded steady to $5 lower. Heifer calves under 650 lbs. were also down $8-$12. The market was hard to define for heifer calves […] Read more
Klassen: Steady fed cattle market supports feeder complex
Compared to last week, western Canadian yearling prices were $2-$4 higher on average while calves were steady to as much as $5 higher. Alberta packers were buying fed cattle on a dressed basis in the range of $273-$275 delivered; live prices were quoted at $161 f.o.b. the feedlot. There is a severe backlog of market-ready […] Read more
Global instability drives crop price effects in Ontario
Potential large crop in Brazil could limit Ukraine export impact
Ontario grain and oilseed markets continue to digest uncertainty in world production and trade due to the Russian invasion of Ukraine. The longer the conflict continues, the less likely that Ukraine corn and sunflower planting and will occur under normal conditions. The ability to harvest Ukraine winter wheat this summer is also questionable. Ontario farmers […] Read more
Klassen: Feeder market showing strength in deferred positions
Compared to last week, western Canadian yearling prices were $3-$5 lower on average while calves traded steady to $4 lower. Outside central Alberta, the steer-heifer spread appeared to widen by $2-$4. Strength in corn futures contributed to the defensive tone. Feedlot operators buying hand-to-mouth have been caught off guard with the recent jump in feed […] Read more
Klassen: Deferred live cattle futures underpin feeder cattle prices
Compared to last week, western Canadian feeder cattle markets traded $2-$4 on either side of unchanged. Major feedlot operations in Alberta continue to carry large numbers of market-ready cattle. The backlog of fed cattle appears to be worse than earlier anticipated. Yearlings were featured at auction barns in the main feeding regions of Alberta. Feedlot […] Read more
Cyber-Savvy Farmer
