Western Canadian feeder cattle markets traded $5 higher to as much as $10 lower compared to week-ago levels. The U.S. Department of Agriculture’s Cattle on Feed report, along with U.S. inventory data, confirmed larger beef supplies in upcoming months, which set a negative sentiment amongst feedlot operators. Auction markets experienced variable price ranges on similar-weight […] Read more
Klassen: Feeder cattle markets digest USDA inventory report
Klassen: Fed cattle uncertainty restricts upside in feeders
Western Canadian feeder cattle were actively trading $3-$5 higher compared to week-ago levels. Order buyers felt like they were groping in the dark but realized there was a fair amount of buying interest by the week’s end. Alberta and Ontario orders were floating aggressively into Manitoba and eastern Saskatchewan, which kept the market flat across […] Read more
Klassen: Positive margins support feeder cattle market
Alberta packers were buying fed cattle at $150 this past week, which was $5 above breakeven pen closeout values. This rally in the fed cattle market was a long time coming and renewed optimism surged across the Prairies. Feeder cattle prices traded $3-$5 above week-ago levels, with lighter calves leading the charge higher. Fierce competition […] Read more
Klassen: Feeder cattle jump on positive outlook
Average prices for steer and heifer calves jumped $8-$10 this past week with some buyers reporting values as much as $15 above week-ago levels. Feedlot operators could feel it in their bones earlier in November and there were no strings attached on orders flowing across the Prairies. Favourable weather reinforced the narrow premium of weaned […] Read more
Klassen: Strong demand underpins feeder market
Western Canadian feeder cattle markets traded steady to $3 above week-ago levels; however, weaned lower-flesh calves were $3 to as much as $6 higher. Southern Alberta calf sales are winding down while other regions are just getting started. This resulted in surreptitious behaviour from Lethbridge-area feedlot operators. Orders stretched across the Prairies, like a slow-moving […] Read more
Klassen: Feeder cattle markets establish fundamental equilibrium
Western Canadian feeder cattle markets were relatively unchanged from week-ago levels as most auction barns held featured or pre-sort calf sales. However, premiums of $3 to as much as $8 were noted on pre-conditioned, quality-weaned replacements. Time in the market is more important than timing the market; longer term risk adverse feeding reinforced the fact […] Read more
Klassen: Feeder market bounces off the lows
Western Canadian feeder cattle markets experienced a week-over-week gain of $5 to $8. Strength in live cattle futures, along with the weaker Canadian dollar, rejuvenated buying interest amongst feedlot operators across the Prairies. Alberta packers were buying fed cattle in the range of $222 to $227 on a dressed basis, which was also up $2 […] Read more
Klassen: Feeder market lacks buying interest
In a market profile, trader Peter Steidlmayer clarified that markets go up because there is no selling and markets go down because there is no buying. Western Canadian feeder markets were a perfect example of this market theory, as prices experienced a week-over-week decline of $10-$15. Feedlot operators once again sat on their hands with […] Read more
Klassen: Feeder market aggressively searches for demand
A boulder falling off a mountain accelerates and gains momentum as it nears the ground. Until we see another force come into play, there’s no signal the lows are near in the feeder complex. Once again, the western Canadian feeder cattle traded $8 to $10 below week-ago levels, with sharper declines noted on unweaned calves. […] Read more
USDA requires meat packers to report online cattle auction deals
Chicago | Reuters –– The U.S. Department of Agriculture said Thursday it will require meat packers to report cattle purchases they make through online auctions to the agency starting next week, a move that stoked traders’ hopes for more transparent markets. USDA will begin including transactions from auctions on the Fed Cattle Exchange in pricing […] Read more
Cyber-Savvy Farmer
