For the week ending May 31, Western Canadian feeder cattle markets traded steady to as much as $10 lower on average. Dryer grass conditions in certain regions of Manitoba and central and northern Saskatchewan may have contributed to the softer tone at certain locations. Many feedlot operators continue to sit on their hands for the […] Read more
Tag Archives auction markets
Klassen: Feeding margin uncertainty weighs on feeder cattle market
Klassen: Feedlots aggressively secure ownership
StatCan cattle inventory report due out soon
Compared to last week, yearlings straight off grass sold $3-$5 higher on average. In certain cases, larger groups of higher quality genetics traded $8-$12 above week-ago levels. Auction markets had larger volumes this past week and there was strong demand across all weight categories. It’s that time of year when major operations are stepping forward […] Read more
Ritchie Bros. raises cash payout in bid for IAA
Activist investor Starboard Value buys into Ritchie
Reuters — Canada’s Ritchie Bros. on Monday sweetened the cash component of its buyout offer for IAA Inc. by 28 per cent, valuing the U.S. auto retailer at US$5.94 billion, and also secured the backing of a key IAA shareholder which had questioned the initial offer. The latest cash-and-stock offer at $44.40 per share, will […] Read more
Klassen: Rising feed grains weigh on feeder market
Compared to the previous week, western Canadian feeder cattle markets traded steady to $3 lower over the past week. In some cases, calves were down $4 to as much as $6. Rising feed grain costs weighed on the overall feeder complex. Feed barley in southern Alberta traded in the range of $265-$275 per tonne delivered, […] Read more
Klassen: Lethbridge demand drives up yearling market
Western Canadian feeder cattle markets traded $5-$8 above week-ago levels. The first major yearling sales occurred in southern Alberta, which appeared to kick-start the buying momentum. Alberta fed cattle prices and wholesale beef values were under pressure; however, feedlot operators were extremely tenacious. Buyers capriciously worked orders throughout the week and by the Friday, quality […] Read more
Klassen: Weaker fed cattle prices pressure feeder market
Western Canadian feeder cattle prices traded $3-$7 lower on average, with shorter-keep replacements over 850 lbs. as much as $10 lower in some cases. Alberta packers were buying fed cattle in the range of $159-$161, down nearly $12 from week-ago levels. Most auction markets had limited numbers on offer, with many sales barns in summer […] Read more
Klassen: Feeder cattle market looking forward
Auction markets across Western Canada will start off the New Year with fairly strong momentum. Newton’s first law of physics states that an object in motion will stay in motion until acted upon by an opposite force. U.S. fed cattle prices staged a miraculous recovery last week and it now appears we could see further […] Read more
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