Markets & Production Tips

The number of cattle being grounded in Canada dropped in 2024.

Fed cattle market grinds lower

The Markets: Softer demand shows up as North American employment weakens

By Jerry Klassen October 9, 2024

During the second week of September, Alberta packers were buying fed cattle on a dressed basis in the range of $406-$410/cwt, down from prices of $425-$428/cwt a month earlier. Beef demand appears to be softening as unemployment levels increase. In addition to weaker consumer spending, September and October are two months when beef demand typically […] Read more

Futures

ICE canola mixed at midday Wednesday

By GFM Network News October 9, 2024

By Phil Franz-Warkentin Glacier FarmMedia | MarketsFarm — The ICE Futures canola market was mixed at midday Wednesday, consolidating near major chart resistance. Follow-through selling after Tuesday’s downturn had weighed on canola in early activity, but the market was correcting off its session lows as the day progressed. End user bargain hunting and speculative short […] Read more

Currency Markets

Canadian dollar and business outlook

By GFM Network News October 9, 2024

Glacier FarmMedia | MarketsFarm — The Canadian dollar was weaker Tuesday morning, as losses in crude oil weighed on the currency. The United States Federal Reserve will release the minutes of its last meeting later in the day. Market participants will be watching the minutes closely for hints on the Fed’s future interest rate adjustments. […] Read more

Global markets

Global Markets: Middle East conflict continues

By GFM Network News October 9, 2024

Glacier FarmMedia | MarketsFarm — The following is a glance at the news moving markets in Canada and globally. Fighting between Hezbollah and Israeli forces in Lebanon continued Wednesday, while the latest Israeli strikes in Gaza left 45 Palestinians dead, according to reports. United States President Joe Biden is set to talk with Israeli […] Read more

Futures

ICE Canada Morning Comment: Canola racking up more losses

Weakness in Chicago, Malaysia applying pressure

By GFM Network News October 9, 2024

ICE Canada Morning Comment: Canola racking up more losses By Glen Hallick Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures were falling back Wednesday morning, due to a lack of support from comparable oils. The Chicago soy complex oil and Malaysian palm oil were lower while European rapeseed chalked up small increases. Growing losses […] Read more

Markets, Reuters

U.S. livestock: Lean hogs and cattle continue rally

By Heather Schlitz, Reuters October 8, 2024

Chicago Mercantile Exchange lean hog and cattle futures rose on Tuesday as wholesale cutout values remained strong amid a largely positive economic picture, analysts said.

The Chicago Board of Trade building on May 28, 2018. (Harmantasdc/iStock Editorial/Getty Images)

Markets, Reuters

U.S. grains: Soy, corn end lower on harvest pressure, expected Brazil rain

By Heather Schlitz, Reuters October 8, 2024

Chicago soybean and corn futures settled lower on Tuesday as brisk U.S. harvest progress and forecasts for rain in drought-hit Brazilian crop belts bolstered expectations of abundant global supplies, traders said.

Currency Markets

Canadian Financial Close: Drop in crude pulls loonie lower

Possible ceasefire in Middle East spurs declines

By GFM Network News October 8, 2024

By Glen Hallick Glacier Farm Media | MarketsFarm – The Canadian dollar continued its downward slide on Tuesday, as the energy-linked currency was pressured by sharp declines in crude oil. The loonie closed at US$0.7322 or US$1=C$1.3657, compared to Monday’s finish of US$0.7348 or US$1=C$1.3609. On the U.S. Dollar Index, the greenback shed 0.061 of […] Read more