For the week ending November 2, Western Canadian yearling and calf markets were relatively unchanged from seven days earlier. Strong demand continues to support the feeder complex at historical high prices.
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Klassen: Feeder market holds at higher levels
Prairie forecast: Warmer weather to continue
Forecast issued Oct. 30, covering Oct. 30 to Nov. 6, 2024
For this forecast period, as we work into what's often the first month of winter across the Prairies, it looks like the current warmer and drier-than-average pattern of the last two months will continue. Now, to be fair, we need to realize that we are transitioning into winter. Average temperatures are cooling, so though the forecasting is calling for above-average temperatures, those temperatures are getting cooler and cooler.
Saskatchewan Party retains power in provincial election
Premier Scott Moe's right-of-center Saskatchewan Party is extending its hold on power in the province after winning a small majority in Monday's election, preliminary results showed on Tuesday.
Klassen: Western Canadian calf market surges
For the week ending 26, Western Canadian calf markets were up $8-$12/cwt on average compared to seven days earlier. Pee-wee calves were up $20-$25/cwt compared to the prior week. Finishing feedlot operators were active buyers in all weight categories while backgrounders were cleaning up on smaller packages of calves under 550 pounds.
Prairie forecast: Mild pattern trying to hold on
This forecast starts with an area of low pressure over northern Ontario and a resulting push of cool air over the eastern half of the Prairies. Over the western half of the Prairies, a weak ridge of high pressure is moving in. This will bring sunny skies and average or above average temperatures.
Klassen: Canadian feeder markets trades premium to U.S. values
For the week ending October 19, Western Canadian yearling markets traded $3 to $5 on either side of unchanged compared to seven days earlier. Calf prices were $5 to as much as $10 higher. Strength in the deferred live cattle futures along with the weaker Canadian dollar has resulted in positive margins on incoming calves. Therefore, the calf market has developed a floor price.
Prairie forecast: No snow – yet
Forecast issued Oct. 16, covering Oct. 16 to 23, 2024
As we work our way towards winter, we'll eventually have to start talking about snow... but it looks like that type of weather is at least another week away. Instead, the models show unseasonably warm weather continuing across much of the Prairies over this forecast period.
Klassen: Calf market ratchets higher
For the week ending October 12, the Western Canadian prices for yearlings off grass and backgrounding operations were relatively unchanged from seven days earlier. The Lethbridge market for calves was up $8-$10 from week-ago levels while calf markets in the non-major feeding regions were up a solid $4-$6 on average.
Saskatchewan crop report: Harvest nearly complete
Combining in Saskatchewan is virtually complete with the provincial report putting the harvest at 97 per cent finished overall. That's a gain of six points during the week ended Oct. 7, as parts of the province contended with rain delays.
Prairie forecast: Mild temperatures to continue
Forecast issued Oct. 9, covering Oct. 9 to 16, 2024
As this forecast period starts, the Prairies are feeling the effects of an upper ridge as it slowly slides eastwards and breaks down thanks due to low-pressure tracking over the ridge. Here is where things get interesting. Overall, the models have consistently shown an area of low-pressure tracking over the ridge late this week and over the weekend. This low is forecasted to drop southeastwards and deepen dramatically.
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