Thin volumes characterized action market activity last week, which resulted in a wide range of prices for feeders of similar weight. There were some larger packages trading via video for August and September delivery. There has also been some private fob ranch negotiations as feedlots secure upcoming volume.
Klassen: Price discovery continues for feeder cattle fall run
Klassen: Buyers tasting feeder cattle prices for fall run
For the week ending July 2, Western Canadian yearling prices were steady to $5 higher compared to seven days earlier for larger packages. Small groups of 800-pound-plus cattle were $10 to $15 discounted to pen-sized lots. Calf markets were relatively unchanged from the prior week, although volume was limited. There is significant open demand for yearlings and finishing feedlot operators are watching how prices develop.
China to be a major buyer of U.S. corn in the 2024/25 crop year
Dry conditions could lead China to buy corn this summer, which would be bullish for new crop prices
The ongoing Northern Hemisphere wheat harvest continues to pressure world wheat values. The North American weather premium in corn and soybean markets has evaporated due to optimal growing conditions. Quick lookSoybeans: U.S. and Ontario soybean crops are developing under optimal conditions. North American prices are competitive with South American origin, limiting the downside.Corn: Traders are […] Read more
Klassen: Light volumes characterize feeder market
For the week ending June 29, Western Canadian yearling and calf markets were unchanged from seven days earlier. Many auction barns are in holiday mode and volumes were light, making the market hard to define. Late blooming stragglers and off grade calves were common.
Klassen: Canadian heifer retention tightening feeder supply
Alberta and Saskatchewan heifer placements in the lighter weight categories are down from year-ago levels. Comments from ranchers and order buyers suggest that Western Canadian ranchers are holding back on heifers to expand the herd. This usually results in a narrowing of the steer/heifer spread.
Wheat futures market remains volatile
Early U.S. yields better than expected; Russian wheat not dominating like last year
The Northern Hemisphere wheat harvest is in the early stages. Corn and soybean markets are factoring in a risk premium due to uncertainty in U.S. production. Quick lookSoybeans: Brazil and Argentina soybean harvests are complete and basis levels are strengthening.Corn: Ongoing Brazilian and Argentinean harvests are pressuring world values.Wheat: The U.S. winter wheat harvest is […] Read more
Klassen: Quality yearlings lead feeder complex higher
Western Canadian feeder cattle markets were quoted $5 lower to $5 higher on average in the week ending June 15. However, quality packages of yearlings traded $5 to as much as $10 above week-ago levels
Klassen: Feeder cattle market ratchets higher on stronger fed market
For the week ending June 8, Western Canadian feeder cattle markets traded $3 to $6 above week-ago levels. In certain locations, quality packages of 600 pound plus steers were $8 to $10 higher compared to seven days earlier. Alberta packers were buying fed cattle on a dressed basis at $440/cwt, up $2/cwt from the previous […] Read more
Grain traders forecasting big U.S. soybean crop
World will contend with a sharp year-over-year increase in soybean production for 2024/25
Ontario corn and soybean prices are at six-month highs. Farmers should sell the final 20 per cent increment of their 2023 corn and soybean production. Quick lookSoybeans: Traders are factoring in a year-over-year increase in U.S. soybean production. Brazil’s final crop estimate will be lower due to extensive flooding. Argentina’s crop was 80 per cent […] Read more
Klassen: Feeder market hard to define on smaller volumes
For the week ending June 1, Western Canadian feeder cattle markets were relatively unchanged compared to the previous week. It’s that time of year when volumes are limited and the market can be quite variable from region to region.
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