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Feed: U.S. cattle on feed edge up

CNS Canada –– Following are a few highlights in the Canadian and world feed grains markets on Monday, Oct. 26.

• CBOT corn futures were stronger on Monday, with the December contract quoted at US$3.845 per bushel, as a rally in wheat provided spillover support. However, the advancing US harvest and generally improving yield prospects did limit the upside potential.

• U.S. cattle on feed numbers as of Oct. 1 were up 2.3 per cent compared to the same point the previous year, according to a USDA report released Friday. However, placements in September were down 4.1 per cent from the previous year.

• Total U.S. feed grain exports (including corn, barley, sorghum and DDGS) at 100.1 million tonnes in 2014-15, according to a report from the U.S. Grains Council. The exports were up 800,000 tonnes from the previous year, and would mark the second largest on record.

• Feed barley bids in the key cattle feeding area of Lethbridge are in the C$210-$216 per tonne area, according to provincial reports. Feed wheat prices are in the C$222-$230 range.

 

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