The U.S. Department of Agriculture’s cattle on feed report was considered bearish for the cattle complex. Feedlot inventories were five per cent higher than last year due to swelling placements in December. It now looks like beef production in the first half of 2011 will be above year-ago levels. Feeder cattle prices have been led […] Read more
Klassen: Cattle markets coming under pressure
Klassen: Feeder cattle edge higher
The feeder cattle market for 2011 started where 2010 left off. Last week’s prices were comparable to values in late December on the first real market test for the year. In southern Alberta, lightweight steer calves under 400 pounds brought back $160 to $175 per hundredweight; 400- to 500-lb. steers sold for $140 to $155/cwt. […] Read more
Klassen: Winter conditions temper feeder movement
Excessive snowfall and colder temperatures in Alberta and Saskatchewan have tempered feeder cattle movement over the past week. Therefore, we haven’t seen a major test of market activity. Lightweight calves have continued where they left off in 2010 with 300- to 400-pound animals trading in the range of $140 to $150 per hundredweight Heavier replacement […] Read more
Klassen: Fed cattle lead feeders higher
U.S. fed cattle prices reached $107 per hundredweight during the last week of December on tight market-ready supplies and strong domestic demand. Feeder cattle markets were rather quiet on both sides of the market due to the holiday period. However, this strength in the slaughter market should result in a $5-$10/cwt increase in feeder cattle […] Read more
Klassen: In review and looking forward
Feeder cattle prices in Western Canada have been trending higher throughout 2010. Last week’s prices for cattle weighing over 600 pounds are up 25 per cent in comparison to December of 2009 while lighter weight cattle are up 30-40 per cent over year-ago levels. Prices have gone from 10-year lows to historical highs within a […] Read more
Klassen: Feeder cattle price momentum continues
Feeder cattle prices in southern Alberta were $3 to $4 higher for all weight categories last week. Stronger demand was noted for animals weighing 700 pounds and heavier, but good quality calves were also well bid. Calves under 400 pounds reached $175 per hundredweight (cwt); 400- to 500-pound steers sold for $150-$160/cwt; and 5-weight cattle […] Read more
Klassen: In feeder cattle, the trend is your friend
The western Canadian feeder cattle market was steady to $2 per hundredweight (cwt) firmer last week for animals in the 6-weights and higher categories; lightweight feeders were up $5-$8/cwt in comparison to the previous week. We saw 700- to 800-pound steers in southern Alberta trade in the range of $116-$126/cwt while lightweights under 400 pounds […] Read more
Klassen: Feeder market stays firm, looks upward
The feeder cattle market is moving to levels where buyers have “ticker shock” and are becoming overwhelmed. Earlier in fall, many feedlot operators were holding back on purchases in hopes of softer values, but we now see these buyers step forward more aggressively before year-end. This last week, we saw 5-weight steers reach $145 per […] Read more
Klassen: Feeder market resumes upward trend
Feeder cattle markets in Western Canada held steady last week. The initial cold shock usually tempers buying enthusiasm, but we now find cattle buyers accustomed to the wintry conditions. Black Angus seven-weight steers touched $128 per hundredweight. Demand for lighter cattle was also firm with 500-weight cattle trading in the range of $135 to $143; […] Read more
Klassen: Feeder cattle futures near historical highs
Feeder cattle futures reached over $117 per hundredweight last week on softer corn values and strengthening fed cattle prices. Western Canadian feeder cattle weighing less than 600 pounds were steady to $2 higher last week; cattle weighing 600 to 800 pounds were $1 to $2 weaker while 8-weight feeders were down $2 on average. Barley […] Read more