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Tag Archives Jerry Klassen

When commercial and managed-money positions are at an extreme low or high, that represents a turning signal for the market.
Beef Cattle, Cattleman’s Corner, Columns, Markets

Understanding the Commitments of Traders report

The U.S. report, released every Friday, is an important indicator of cattle market movement

By
Who is long? Who is short? How much of each? This is the most important market information when studying the futures markets. The Commitments of Traders (CoT) report is released every Friday afternoon by the U.S. Commodity Futures Trading Commission (CFTC) and shows the trading positions of market participants as of Tuesday’s close. Whether you […] Read more
It’s important that feedlot operators and cow-calf producers are aware of the supply and demand balance for fed cattle.
Cattleman’s Corner, Markets

Lessons from last September’s cattle market drop

A small change in cattle numbers can result in a large drop in market value

By
CME (Chicago Mercantile Exchange) December 2023 live cattle futures made a high of US$199.75 per hundredweight on Sept. 15. The market held at the higher levels until the end of September and then started to trend low, bottoming around $166 on Dec. 7 (all figures US$). There were a few signals stating that the market […] Read more
Photo: Canada Beef Inc.
Livestock, Markets

Klassen: Feeder market continues to climb

Canadian values appear to be one week behind the U.S. market

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For the week ending February 10, Western Canadian the market for yearlings over 800 pounds was $3/cwt to $6/cwt compared to a week earlier. Feeder cattle suited for grass and calves were up $8/cwt to as much as $25/cwt in some cases compared to the week prior. Quality steers averaging 600 pounds were readily trading in the range of $410-$425 up from the range of $380-$395 last week.
Absent a significant rally in Chicago June and August live cattle, the market for backgrounded cattle is not sustainable moving forward.
Beef Cattle, Cattleman’s Corner, Columns, Markets

Fed cattle market softens

The longer-term outlook remains bright, despite lots of cattle on feed

By
During the first week of January, Alberta packers were buying fed cattle on a dressed basis in the range of $363-$365 per hundredweight delivered. This was down marginally from the price range of $368-$370/cwt. during the week of December. In Kansas and Texas, live prices were US$171/cwt., down US$4/cwt. from 30 days earlier. U.S. packers […] Read more
lean beef in retail meat case
Beef Cattle, Cattleman’s Corner, Markets

Beef demand outlook brightens

U.S. consumer spending — the main driver of beef demand — is improving

By
U.S. and Canadian inflation reached 40-year highs in June of 2022. Interest rates reached 22-year highs in the summer of 2023. For the past two years, most financial analysts were forecasting a U.S. and Canadian recession at some point in the future. When the recessions didn’t occur, they delayed the recession forecast by three to […] Read more
Klassen: Positive fed outlook buoys feeder market
Livestock, Markets

Klassen: Positive fed outlook buoys feeder market

Market telling producers to own lighter cattle sooner rather than later

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Western Canadian feeder cattle prices for 800-pound plus cattle were $2/cwt to $4/cwt higher on average for the week ending January 27. Feeders in the 500-800-pound category were up $3/cwt to $6/cwt with higher quality groups up as much as $10/cwt in some cases. Feeders 500 pounds and lower were unchanged from seven days earlier.
(WPohlDesign/iStock/Getty Images)
Beef Cattle, Livestock, Markets

Klassen: Feeder market holds value despite negative margins

U.S. demand limited with colder temperatures in Midwest

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Calf markets appeared to trade $2 to $3 above week-ago levels on average. Feedlot margins on current pen close-outs are negative $300 to $350 per head but replacement markets haven’t missed a beat. Finishing feedlots were once again bidding aggressively on backgrounded cattle with fleshier types experiencing limited slippage. Larger pen sized groups were on the higher end of the priced spectrum with buyers avoiding smaller packages.

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