Western Canadian feeder cattle prices experienced a week-over-week decline of $8-$12 on average while isolated sales dropped nearly $20. The sharp fall in the fed cattle market was the main reason for the deteriorating buying interest. Just when feedlots thought the worst was over, the market gave them another dose of reality. The retail market […] Read more
Klassen: Large beef supplies weigh on feeder market
Big U.S. cattle placements in May point to more meat in Q3
Chicago | Reuters — Cattle placed in U.S. feedlots for fattening surged by 10 per cent in May, the U.S. Department of Agriculture said on Friday in data that suggested beef supplies will be ample and prices potentially lower in the third quarter of 2016. However, analysts polled by Reuters predicted the spike in placements. […] Read more
April U.S. cattle placed in feedlots at three-year high
Chicago | Reuters –– The number of cattle placed into U.S. feedlots in April jumped seven per cent from a year earlier, according to a government report on Friday, far exceeding most analysts’ forecasts. Feedlots were still operating at a loss, analysts said. But lower prices for young calves allowed feedlots to buy more of […] Read more
U.S. livestock: CME live cattle hit new contract lows before report
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures sped to new contract lows, accelerated by bearish fundamentals and positioning before the government’s monthly Cattle on Feed report at 2 p.m. CT, traders said. Simultaneously, the U.S. Department of Agriculture will issue its monthly cold storage data that will include total March beef and […] Read more
Klassen: Feeder cattle mixed across the Prairies
Market sentiment can be extremely variable and this week, we saw a large divergence in the price structure across the Prairies. Alberta feeder cattle prices were generally $3 to $6 higher and in some cases as much as $10 above week-ago levels. Buying interest appeared to fade moving east, with Manitoba markets dropping $4-$8 from […] Read more
Cattle placed in U.S. feedlots jump to eight-year high
Chicago | Reuters — The number of cattle put into U.S. feedlots in February climbed 10 per cent from a year earlier to their highest level for that month in eight years, according to a government report released Friday. The placement results, which shed light on future prices for cattle and beef, surpassed industry forecasts […] Read more
Cattle placed in U.S. feedlots in January dip from last year
Chicago | Reuters — The number of cattle moved into U.S. feedlots in January slipped one per cent from last year, according to a government report on Friday, nearly matching average industry forecasts. Feedlots were cautious about buying calves, or feeder, cattle while struggling to recoup 14 straight months of lost profits, partly blamed on […] Read more
U.S. livestock: CME live cattle rally ahead of USDA report
Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures gained for a second day in row on Friday, supported by follow-through buying after contracts settled up by their 3-cent-per-lb daily price limit on Thursday, said traders. Investors also tweaked positions before Friday’s U.S. Department of Agriculture monthly Cattle-On-Feed report at 2 p.m. CT. At […] Read more
U.S. feedlot cattle count not as low as expected
Chicago | Reuters — Cattle placed into U.S. feedlots in December slipped one per cent from a year earlier to their lowest level since 1998, based on a U.S. Department of Agriculture report Friday, but were slightly above average industry expectations. Feedlots finally purchased less-expensive calves, or feeder cattle, that had grown heavier on healthy […] Read more
Klassen: Bounce in fed cattle supports feeders
Feeder cattle prices ended the year on a soft tone, trading steady with week-ago levels. Most auction barns were in holiday mode, resulting in minimal sales across the Prairies. Christmas couldn’t come soon enough for feedlot operators and the bounce in the live cattle futures early in the week was a refreshing gift. This past […] Read more
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