Western Canadian feedlots are carrying sufficient numbers for the time being and feeding margins remain deep in red ink on unhedged cattle. Secondly, carcass weights are sharply above year-ago levels and Alberta finishing lots are backed up with market-ready supplies.
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Klassen: Yearling price trend stalls while calves ratchet higher
Larger players aggressively securing lightweight calves on expectations of low yearling supplies
Klassen: Grassers and herd rebuilding confidence keeps feeders elevated
Major grazing regions of Western Canada receive more than double of normal precipitation in last month
The major grazing regions of Western Canada have received over 200 per cent of normal precipitation over the past 30 days. Grassers were red hot. Demand has also increased for herd building heifers which has diminished supplies for finishing feedlots.
Klassen: Statistics Canada confirms lower feeder cattle supplies
Precipitation in Alberta, Saskatchewan increases demand for grassers
Compared to last week, Western Canadian yearling or backgrounded steers prices were quoted $5 to $8 higher; yearling or backgrounded heifers were unchanged to $4 higher. Calves were trading $4 to as much as $10 higher.
Klassen: Feeder market shows signs of herd expansion
Some buyers suggest some heifers are being purchased for breeding
For the week ending February 17, Western Canadian prices for yearlings and backgrounded cattle were quoted $2-$4/cwt higher than seven days earlier.
Klassen: Feeder market continues to climb
Canadian values appear to be one week behind the U.S. market
For the week ending February 10, Western Canadian the market for yearlings over 800 pounds was $3/cwt to $6/cwt compared to a week earlier. Feeder cattle suited for grass and calves were up $8/cwt to as much as $25/cwt in some cases compared to the week prior. Quality steers averaging 600 pounds were readily trading in the range of $410-$425 up from the range of $380-$395 last week.
Klassen: Canadian feeder market jumps on USDA data
The U.S. cattle herd reached lowest head count since 1950s, trade anticipates heifer retention
For the week ending February 2, Western Canadian feeder cattle prices were up $6/cwt to $12/cwt from seven days earlier. Certain pockets of Western Canada had grass cattle trading $12/cwt to as much as $20/cwt above the previous week.
Klassen: Positive fed outlook buoys feeder market
Market telling producers to own lighter cattle sooner rather than later
Western Canadian feeder cattle prices for 800-pound plus cattle were $2/cwt to $4/cwt higher on average for the week ending January 27. Feeders in the 500-800-pound category were up $3/cwt to $6/cwt with higher quality groups up as much as $10/cwt in some cases. Feeders 500 pounds and lower were unchanged from seven days earlier.
Klassen: Feeder market holds value despite negative margins
U.S. demand limited with colder temperatures in Midwest
Calf markets appeared to trade $2 to $3 above week-ago levels on average. Feedlot margins on current pen close-outs are negative $300 to $350 per head but replacement markets haven’t missed a beat. Finishing feedlots were once again bidding aggressively on backgrounded cattle with fleshier types experiencing limited slippage. Larger pen sized groups were on the higher end of the priced spectrum with buyers avoiding smaller packages.
Klassen: Cattle producers anxious about 2024
No sales the first week of 2024 as markets assess inventory, plan strategy
The holiday break for the cattle market is analogous to an the intermission between periods of hockey game. Feedlot operators assess inventory and to focus on the market structure. They’re planning their purchase strategy for the next couple months.
Klassen: Feeder market quiets at year-end
Feeding margins have moved into negative territory, setting a negative tone for replacements
The last full week of 2023 was characterized by lower volumes and limited buying interest. Feedlot operators don’t want to weigh down schedules of hired hands over the holidays. Many auction barns were closed for the season while some held bred cows and bred heifer sales.
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