Western Canadian yearling prices were slightly softer during the second week of July, due to the historical high weekly marketings of feeder cattle south of the border; however, the market fully recovered last week. Feeder cattle prices tend to make a seasonal high in late July and this year is no exception. Market reports in […] Read more
Klassen: Feeder market jumps on optimistic outlook
ICE weekly outlook: Dry weather keeping canola from more downside
CNS Canada –– A lack of rain in Western Canada may be the only thing keeping canola futures prices from dropping much further than they have already. The dominant November contract was above $525 a tonne in late June, but has since fallen to the $490 mark as of Wednesday. Global trade disruptions and a […] Read more
Klassen: Weaker barley prices enhance yearling prices
Compared to last week, yearlings traded $3 to as much as $8 higher, with strong buying interest noted from Lethbridge-area feedlots. Supplies of quality feeders are rather snug at this time of year and buyers were extremely aggressive on local packages. Prices in the non-major feeding areas appeared to lag southern Alberta markets but orders […] Read more
ICE weekly outlook: Canola seeks rain amid market turmoil
CNS Canada — The ICE Futures Canada canola market faces a slew of uncertainty as political turmoil in international trade markets and a looming report from Statistics Canada keeps traders guessing where the market is headed. “The craziness of the White House is the main focus. How will it affect the markets?” said Keith Ferley […] Read more
ICE weekly outlook: Canola facing uncertainty
CNS Canada — ICE Futures Canada canola contracts fell to their lowest levels in more than three months during the week ended Wednesday, but could still have more room to the downside given the general sense of global trade uncertainty. “Every commodity trader in North America or globally is scared to death right now,” said […] Read more
ICE weekly outlook: Canola awaits acreage report
CNS Canada — This week’s acreage estimates from Statistics Canada could bring an end to canola’s recent chart surge upward — or could give futures the impetus to move even higher. The dominant July contract closed Wednesday at $535 per tonne, a gain of $8 from the previous Wednesday’s close. Prairie farmers on Friday will […] Read more
ICE weekly outlook: Canola futures linked to NAFTA
CNS Canada — ICE Futures Canada canola contracts zigged and zagged around the $520 per tonne mark during the week ended Wednesday — but one analyst says the market could really take a turn if and when the future of the North American Free Trade Agreement is clarified. “The Canadian dollar is already moving to […] Read more
ICE weekly outlook: Canola holds rangebound with bearish StatsCan data
CNS Canada — Canola contracts on the ICE Futures Canada complex stayed mostly rangebound during the week ended Wednesday, even as sharp fluctuations in the Canadian dollar and a bearish Statistics Canada report impacted the market. StatsCan on Wednesday released its final production estimates of the year, projecting canola production in 2017-18 at 21.3 million […] Read more
Klassen: Beef demand drives feeder market higher
Compared to last week, Western Canadian yearling prices were $5 higher on average; calves traded $3 to as much as $6 above week ago levels. Strength in fed cattle prices quickly spilled over into the feeder complex, especially on shorter keep replacements. On Friday, Alberta packers were buying fed cattle from $247 to $250 on […] Read more
Klassen: Feeder cattle market remains firm
Western Canadian yearling markets were trading $3 to as much as $6 above week-ago levels while calf prices were relatively unchanged. The Canadian dollar was under pressure all week, closing Friday at US77.85 cents, the lowest levels since mid-July. At the same time, April live cattle futures made fresh contract highs, reflecting a week-over-week gain […] Read more
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