Comments from the country this week suggested the market was slightly firmer than week-ago levels. However, market reports stated prices were relatively unchanged and actually softened late in the week. The old saying that even a priest lies about his car’s gas mileage applies to overly optimistic cattlemen trying to bolster market enthusiasm. Feedlot margins […] Read more
Klassen: Feeder market stable but demand remains soft
Klassen: Feeder cattle market well supported
Western Canadian feeder cattle prices were generally steady with week-ago levels as volumes continue to decline into the summer months. The quality of cattle coming on the market this time of year is quite variable. Background operations are liquidating their final volumes and feeders over 800 lbs. set the market structure. Larger-frame mixed steers averaging […] Read more
Klassen: Feeder market bounces off previous lows
Western Canadian feeder cattle prices traded $5-$8 above week-ago levels with quality groups of steers selling for as much as $10 higher. Renewed optimism surfaced amongst feedlot operators as feeding margins appear to be moving above break-even pen closeout values. Auction markets that only had two or three major buyers at previous sales in spring […] Read more
Klassen: Downward price trend continues for feeder cattle
The feeder cattle market feels like a falling dagger — and trying to pick a bottom can be painful. Western Canadian auction markets saw heavier replacements over 800 lbs. fall $8-$12 compared to last week; calves were generally $5-$8 below week-ago levels. Feedlot buying interest was once again limited to two or three major operations […] Read more
U.S. livestock: Sluggish beef demand sinks CME live cattle
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures settled sharply lower on Thursday, with the June contract down by its three-cent/lb. daily price limit, as sluggish beef demand threatened to pressure cash prices by Friday, traders said. Lightly-traded April live cattle, which has no limit on the final two days before expiration on […] Read more
Klassen: Feeder cattle market garners support
Western Canadian feeder cattle markets were relatively stable over the past week while prices in the major feeding regions were $2 to $5 higher. Alberta fed cattle prices were $2 higher, trading in the range of $170 to $172, which bolstered buying enthusiasm in the heavier weight categories. Feedlot operators in the Lethbridge area were […] Read more
U.S. livestock: Brisk beef demand pushes CME live cattle higher
Chicago | Reuters –– Most Chicago Mercantile Exchange live cattle contracts rose on Wednesday, driven by upward-trending wholesale beef values that may underpin prices for market-ready, or cash, cattle by Friday, traders said. Thinly-traded spot February, which will expire on Feb. 29, closed down 0.025 cent/lb. to 136.975 cents (all figures US$). April ended 0.65 […] Read more
Klassen: Feeder market experiences defensive tone
Feedlot operators continue to pull in the reins on replacement cattle purchases because another month-end budget for the bank does not look healthy. Alberta sales barns experienced a soft tone, with sales $4 to $6 below week-ago while eastern Prairie regions received spillover support from U.S. markets. Manitoba markets were notably $3 to $8 higher […] Read more
Klassen: Feeders still vulnerable in financial market turbulence
Western Canadian feeder cattle prices experienced a defensive tone over the past week. Cattleman had their eyes glued to the equity market meltdown, which enhanced fears the fed cattle market would follow suit. Live cattle futures were on a roller coaster, and a late-week bounce in the Canadian dollar added to market uncertainty. Buyers were […] Read more
Villagers in India kill Muslim accused of smuggling cows
Dharamsala, India | Reuters –– Villagers in northern India have killed a Muslim man for allegedly smuggling cattle, police said Saturday, in violence critics say is fuelled by the Hindu nationalist government seeking a nationwide ban of cow slaughter and beef trade. India is the world’s largest exporter of beef and its fifth biggest consumer, […] Read more
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