Compared to last week, western Canadian yearling markets were down $2-$5 while calves dropped by $3 to as much as $8. We’re now seeing some medium-quality calves weighing around 550 lbs. sell under the psychological $200 level in central Alberta. The market is lacking demand. Feedlot inventories are running 33 per cent above the five-year […] Read more
Klassen: Feeder cattle market grinds lower
Klassen: Feeder market reflects softer sentiment
Compared to last week, western Canadian yearling markets traded $2-$4 lower; calves over 700 lbs. appeared to hold value; calves weighing less than 700 lbs. were down $3 to as much as $5. The yearling run is basically finished. Ontario buying interest was supportive in the eastern Prairie regions due to the bumper corn crop; […] Read more
U.S. soy prices grind lower on higher production, lower demand
Wheat price fundamentals are strong with lower production in many parts of the world
As of Oct. 5, the Ontario soybean harvest was approximately 60 per cent complete while the corn harvest was in the early stages. Intermittent showers are in the forecast for the first half of October. We’re in the process of getting a better handle on crop quality. Yield results confirm our production forecast. Basis levels […] Read more
Klassen: Demand for feeder cattle eases
Compared to last week, western Canadian yearling prices were down $3-$5; calves traded $2-$6 below week-ago levels. The market has come under pressure for three main reasons. Cattle on feed inventories in Alberta and Saskatchewan are 36 per cent above the five-year average. Many feedlots are comfortable with ownership levels. The drought caused about 150,000 […] Read more
Klassen: Feeder market continues consolidation
U.S. corn northbound into Prairies
Compared to last week, western Canadian yearling prices were relatively unchanged while calf markets were down $2-$3 on average. Feedlot inventories in Alberta and Saskatchewan are 30 per cent above the five-year average; therefore, demand is lacking moving into the main marketing period for calves. Finishing feedlots have sufficient ownership and being fairly finicky on […] Read more
StatsCan reduces yield projections for soy, increases corn yield
Satellite-based modelling may not reflect true potential for soy, as field and crop tours show yields should be higher
Ontario and U.S. corn and soybean production estimates have been raised since last month. Statistics Canada released its satellite model crop estimates based on conditions in late August. The Ontario corn yield was raised by 9.7 bu./acre from the August release and Statistics Canada trimmed the Ontario soybean estimate but it is important to realize […] Read more
Klassen: Feeder market holds value
Compared to last week, western Canadian yearling markets traded $2-$4 on either side of unchanged; calf prices held value, but there were pockets like Lethbridge where values were $2-$4 higher. Alberta packers were buying fed cattle on a live basis in the range of $156-$158. If an Alberta feedlot booked its feed grains in April […] Read more
Klassen: Finishing feedlot demand drives yearlings higher
Compared to last week, western Canadian yearlings traded $2 lower to as much as $5 higher. Strength was once again noted in southern Alberta where heavier yearlings recorded a fresh 52-week high. Calves were relatively unchanged from week-ago levels. Larger groups of quality weaned genetics traded as much $5 above average values. Feather-lite bawlers under […] Read more
Statistics Canada yield estimates useful for market predictions
Hurricane Ida, good Canada and U.S. soybean crops factor into projections
Statistics Canada released its first yield and production estimate on Aug. 30. Satellite technology was used to model crop yields as of July 30 and the actual harvested area was based on historical averages. Winter wheat production came in at 2.6 million tonnes, which is the largest crop since 2016. Corn output could reach a […] Read more
Klassen: Lower beef production supports cash feeder market
Compared to last week, western Canadian yearling prices were relatively unchanged; calf prices traded $2 on either side of week-ago levels. December and February live cattle futures have dropped $8-$10 off the highs while feed grain values have remained firm. Buyers were on the defensive this past week, given the softer outlook for fed cattle […] Read more
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