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: Feeder cattle jump on positive outlook
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
Klassen: Patient buyers await lower feeder market
Patience is a virtue, the old saying goes. Unlike the past few years, feedlot operators have been rewarded for waiting and there is no clear signal the market has any incentive to deviate from the current direction. Western Canadian feeder markets were trading $5-$8 below week-ago levels as larger numbers come onstream in all weight […] Read more
Klassen: Feeder cattle market experiences mixed tone
Western Canadian feeder cattle markets experienced a diverse tone across the Prairies, with notable buying interest surfacing on yearlings. Compared to seven days earlier, prices for yearlings in southern Alberta were $5-$7 higher on average, as feedlots focused on purchasing local cattle. In southern Alberta, larger-frame lower-flesh black steers weighing 900 lbs. were quoted at […] Read more
Klassen: Feeder market stabilizes
Western Canadian feeder cattle prices traded steady to $5 higher over the past week largely due to stronger U.S cattle markets. Alberta packers were relatively quiet but fed cattle prices in the U.S. southern Plains jumped US$5, reaching US$110. This sudden reversal caused Canadian feedlot operators to hold out for higher prices and the positive […] Read more
Klassen: Feeder market drops on fed cattle weakness
Alberta packers were buying fed cattle in the range of $128-$130 this past week — the lowest levels since December 2013 and down nearly $18 from a month ago. Weekly beef production continues to defy expectations, bludgeoning feeding margins across the Prairies. Western Canadian feeder cattle markets were quick to respond, trading $8-$10 below week-ago […] Read more
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