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.
Klassen: Feeder market holds value amid economic uncertainty
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.
Prairie forecast: Heatwave coming to an end
Forecast issued July 24 covering July 24 to 31, 2024
Southern Alberta, southern and central Saskatchewan and Manitoba will see another day or two of hot weather before the northern low drags a cold front southward, which will bring an end to this extended heatwave.
Klassen: Feeder market leaps higher
For the week ending July 20, Western Canadian yearlings traded $8-$15 above prices from seven days earlier. Values for larger groups of quality calves were up $8 to $10 from a week earlier while run of the mill smaller packages were relatively unchanged.
Prairie forecast: Prolonged heatwave expected
Forecast issued July 17, covering July 17 to 24, 2024
The second heatwave of the summer appears to be establishing itself across the Prairies. This heatwave looks to last the whole forecast period as a strong upper ridge builds over central North America. Intense heat will stretch from the southern U.S. to the Arctic ocean.
Cyber-Savvy Farmer
