For the week ending August 17, Western Canadian feeder cattle prices were $3-$5 lower on average. Three weeks ago, 1,000 pound steers off grass reached up to $340/cwt. This past week, these same cattle were quoted in the range of $315-$325/cwt.
Klassen: Yearling market softens on economic uncertainty
Prairie forecast: Weak systems make for tricky forecast
Forecast issued Aug. 14, covering Aug. 14 to 21, 2024
The slack or weak pattern looks to continue into much of next week, which makes it difficult to pinpoint which areas could see showers or thunderstorms, and on which days. Best chances for precipitation look to be over the eastern Prairies. This type of pattern also makes it difficult to predict where forest fire smoke will be.
Combining underway in Manitoba
The harvesting of fall cereals was well underway in Manitoba, according to the province’s latest crop report released on Aug. 13. Manitoba Agriculture said 39 per cent of the fall rye and 17 per cent of the winter wheat had been combined.
Klassen: Feeder market holds value amid economic uncertainty
Overall, the calf market appeared to be more sensitive to the weakness in the deferred live cattle futures while buyers of yearlings were focused on securing ownership. Ideas are that yearling supplies are down from year-ago levels and scarcity factor is driving the bullish enthusiasm.
Manitoba Crop Report: Crops develop under warm conditions
Warmer weather and varied precipitation across Manitoba allowed crops to further develop during the week ended Aug. 5, according to the province’s weekly crop report.
Prairie forecast: Temperatures to warm up
Forecast issued Aug. 7, covering Aug. 7 to 14, 2024
For this forecast period, it's looking like the forecasted strong area of high pressure is going to dominate the weather across the Prairies. This should bring plenty of sunshine and warming temperatures. Overnight lows look to be seasonable, so at this point it doesn't look like we'll see heat warnings—but as usual you just never know.
Klassen: Feeder rally stalls
For the week ending August 3, Western Canadian feeder cattle prices were relatively unchanged from seven days earlier. Strong buying interest continued on yearlings straight off grass; however, the “just get’em” type orders that were evident a week earlier now had limits. More cattle will come available in August and buyers are being more patient to see how the market develops.
Prairie forecast: Cooler weather coming, but little precipitation
Forecast issued July 31, covering July 31 to August 7, 2024
It's looking like we'll soon see an end to the hot conditions of the last few weeks as upper ridging collapses and the upper flow across the Prairies moves to a straight west-to-east flow. Under this pattern, we should see textbook summer conditions. The only downside is there aren't many chances of precipitation.
Klassen: Western Canadian yearling prices hit fresh record highs
The year-over-year decline in last year’s calf crop has caused the market to set new records. Larger finishing feedlots are setting the price structure as many of these lots have seasonal low inventory. The quality of yearlings coming off grass is excellent with buyers shopping for feed efficiencies.
Manitoba Crop Report: Crops grow with additional heat
Warmer conditions helped crops across Manitoba advance in their development during the week ended July 21, according to the province’s weekly crop report.
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