Compared to last week, Alberta feeder cattle markets were relatively unchanged while Manitoba and Saskatchewan prices were down $2 to as much as $5 in some cases. Alberta packers were buying fed cattle on a dressed basis in the range of $248-$250, up $4-$5 from last week. Strength in the fed cattle market spilt over […] Read more
Klassen: Feeder cattle market in price-discovery phase
Klassen: Higher feed grain prices continue to pressure feeders
Compared to mid-December, western Canadian yearlings traded $3-$5 lower; mid-weight calves are down $4-$6 while calves under 550 lbs. remained firm. Buyers exhibited a defensive tone on heavier yearlings and discounts were more severe on fleshier cattle last week. There is absolutely no risk appetite for 850-plus-lb. cattle at this time of year. Demand for […] Read more
Cattle outlook brightens for 2021
Feeder market influenced by lower overall supplies
During mid-December, Lethbridge-area feedlots were selling fed cattle in the range of $138 to $140, up $2 to $4 from 30 days earlier. While Canadian feedlot operators are contending with a backlog of market-ready supplies, cattle on feed 150 days and longer are actually below year-ago levels south of the border. The USDA lowered its […] Read more
Klassen: Feeder cattle prices digesting uncertainty
Defensive tone likely through January
The feeder cattle market was very quiet during the last week of December with auction barns in holiday mode. There were discussions regarding direct sales but no actual business was confirmed. The stakes are too high given the market uncertainty; a defensive tone will likely continue throughout January. Feed grains continue to percolate higher; the […] Read more
Klassen: Lighter calves end year on positive tone
Compared to last week, Western Canadian feeder cattle prices were $2 lower to $3 higher depending on the region. Many auction markets were in holiday mode last week and thinner volumes made the market harder to define. Generally speaking, the market was supported by stronger deferred live cattle futures and a slightly weaker Canadian dollar; […] Read more
Klassen: Fed cattle prices supporting calf market
Alberta packers were buying fed cattle in the range of $139 to $140 last week, up $1 to $2 from seven days earlier. Strength in the nearby fed cattle market along with the recent rally in the live cattle futures has been supportive for calves under 600 pounds. Compared to last week, Western Canadian yearling […] Read more
Klassen: Feeder cattle market volatility continues
Compared to last week, western Canadian feeder cattle markets traded $3 lower to $3 higher. Prices were generally steady to $3 higher on Friday after the U.S. Department of Agriculture lowered its estimate for second-quarter beef production by 125 million lbs. in Thursday’s world agricultural supply and demand estimates (WASDE). Fed and feeder cattle futures […] Read more
Klassen: Feeder market takes direction from live cattle futures
Compared to last week, western Canadian yearling markets traded steady to $4 lower; midweight calves traded $3 lower to $3 higher and calves under 550 lbs. were relatively unchanged. Yearling supplies are limited at this time of year but demand is also hard to find. These cattle will come on the fed market during the […] Read more
Expect volatility in the cattle market
Market Update with Jerry Klassen: High feed barley prices mean a drastic increase in cost per pound of gain
Alberta feedlots were selling fed cattle at $136 f.o.b. the feedlot in mid-November, which was relatively unchanged from average prices in October. The market has held due to steady demand from south of the border. Alberta packer bids have come in at a $3 to $5 discount to U.S. packers over the past month. Western […] Read more
Klassen: Feeder market stabilizes on demand hopes
Western Canadian feeder cattle markets were relatively unchanged compared to seven days earlier; however, market reports were quite variable depending on the region and weight category. In most cases, prices for calves under 550 lbs. were $2 to as much as $10 higher while values in the heavier weight categories were $3 lower to $3 […] Read more
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