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.
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Klassen: Price discovery continues for feeder cattle fall run
Klassen: Yearling return to the lineup on strong demand
Frigid temperatures result in limited volumes
The market hasn’t missed a beat and started the year where it left in December. The only difference is there are larger supplies of yearlings coming on stream. The benchmark levels had backgrounded steers averaging 1,000 pounds trading from $280-$285/cwt with top bids rounding at $290/cwt. Steers averaging 850-pounds were averaging $300/cwt with top-notch larger groups peaking at $305.
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: Winter conditions weigh on feeder market
Western Canadian feeder cattle prices were relatively unchanged from week-ago levels. The major feeding regions from Alberta to the U.S. Midwest and southern Plains have all experienced severe storms and extreme temperatures. The forecast for southern Alberta calls for lows of -25 to -32 C over the next seven days. Auction markets have a few […] Read more
Klassen: Weather weighs on feeder cattle
Compared to last week, western Canadian feeder cattle markets traded $3 to as much as $6 lower. Eastern Prairie regions experienced demand from Ontario and Quebec, which limited the downside; however, Alberta markets faltered as buyers, having factored in a higher deathloss due to adverse weather. Light wet snow along with warmer temperatures during the […] Read more
Klassen: Feeder market stabilizes on lower supplies
Compared to last week, western Canadian feeder cattle prices were unchanged to $2 higher on average. Feeder cattle markets appear to have divorced from the fed cattle complex and calves are now reaching levels not seen since November last year. Feedlot operators were fairly aggressive on all weight categories under 900 lbs., but heavier yearlings […] Read more
Klassen: Feeder market grinds lower
Compared to last week, western Canadian feeder cattle prices traded $4-$6 lower; however, yearlings and heavier calves experienced a week-over-week decline of $4 to as much as $8 with significant weakness noted in the eastern Prairie regions. Finishing feedlots continue to sit on their hands. Order buyers were active on a scale-down basis and surprised […] Read more
Canola stocks look less tight in StatsCan report
CNS Canada — Canadian farmers grew a record amount of canola in 2017, despite weather concerns, according to updated production estimates on Wednesday from Statistics Canada. The agency pegged production in 2017-18 at 21.3 million tonnes, up from the September estimate of 19.7 million and last year’s total of 19.6 million. The rise in production […] Read more
Klassen: Healthy margins drive feeder complex
Western Canadian feeder cattle markets traded steady to $5 higher compared to week-ago levels. Buyers were quite meticulous on flesh levels and quality features in the heavier weight categories; however, feedlot operators were definitely more aggressive this week. Major operations have liquidated a fair amount of fed cattle and these players are anxious to reload […] Read more
Klassen: Feeder cattle market becomes extremely vulnerable
Western Canadian feeder cattle prices were relatively steady early in the week but dropped $3 to $6 on average by Friday. Weakness at local auction barns was led by a softer fed cattle market and a extreme weakness in U.S. feeder values. U.S. fed cattle prices in Kansas have dropped like a power window, trading […] Read more
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