Reading Time: 2 minutes 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: Feeder cattle prices digesting uncertainty
Defensive tone likely through January
U.S. livestock: Live cattle sag as Wall Street retreats, grain prices rise
Wholesale ham prices supportive for hogs
Reading Time: < 1 minute Chicago | Reuters — U.S. live cattle futures fell more than two per cent on Monday, pressured by ample beef supplies and fund-driven selling as Wall Street equities declined, analysts said. Feeder cattle futures fell even harder, dropping by three per cent as U.S. corn futures rose to almost $5 a bushel for the first […] Read more
Klassen: Lighter calves end year on positive tone
Reading Time: 2 minutes 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
Reading Time: 2 minutes Alberta packers were buying fed cattle in the range of $139 to $140 last week, up $1 to $2 from seven days earlier. Strength in the nearby fed cattle market along with the recent rally in the live cattle futures has been supportive for calves under 600 pounds. Compared to last week, Western Canadian yearling […] Read more
Ontario’s beef set-aside AgriRecovery plan underway
Applications for first intake due Dec. 22
Reading Time: 2 minutes A set-aside program has formally been launched to help Ontario’s 6,800-odd cattle producers maintain market-ready animals while Eastern Canada’s biggest beef slaughter plant remains closed. Federal and provincial officials on Monday announced applications are now open for the Canada-Ontario COVID-19 AgriRecovery Beef Emergency Feed Maintenance Initiative, with applications for the first intake period due by […] Read more
U.S. livestock: Cattle futures weaken on technical setback
Hog futures up ahead of USDA data
Reading Time: < 1 minute Chicago | Reuters — U.S. live cattle futures eased on Monday, setting back on some mild technical selling after three days of gains, while hog futures edged higher, traders said. Chicago Mercantile Exchange (CME) February live cattle futures settled 0.2 cent lower at 114.65 cents/lb. (all figures US$). The contract hit its highest since Nov. […] Read more
U.S. livestock: Cattle futures firm as cash market rebound seen
Hog report expected to show smaller herd
Reading Time: < 1 minute Chicago | Reuters — U.S. live cattle futures rose for the third day in a row on Friday, on expectations that the cash market would rebound from recent lows in the coming days. Traders also viewed a government report that showed cattle placements during November were down sharply from a year earlier as bullish. “The […] Read more
U.S. livestock: Cattle futures firm
Hogs weak despite big pork exports
Reading Time: < 1 minute Chicago | Reuters — U.S. cattle futures rose to a two-week high on Thursday, their second straight day of gains, on technical buying, traders said. Hog futures were weaker despite signs of strong pork exports and firm demand from China. Chicago Mercantile Exchange (CME) February live cattle futures settled up 0.675 cent at 114.45 cents/lb. […] Read more
Guelph beef plant idled against COVID-19 outbreak
Cattle set-aside plan en route, BFO says
Reading Time: 3 minutes Agrifood giant Cargill is temporarily halting production at its beef processing plant at Guelph, Ont. in the wake of a significant COVID-19 outbreak among employees. The company announced it would “begin the process to temporarily idle” the Dunlop Drive plant effective Thursday (Dec. 17). “This was a difficult decision for our team who are operating […] Read more
U.S. livestock: Cattle futures firm despite weak cash markets
Hogs down on technical selling
Reading Time: < 1 minute Chicago | Reuters — U.S. cattle futures firmed on Wednesday, shrugging off weakness in the cash market in anticipation of tightening supplies in the coming months, traders said. Hog futures eased on a round of technical selling. Traders were expecting a U.S. Department of Agriculture (USDA) report on Friday to show an 8.6 per cent […] Read more
A message from April Stewart, Country Guide's Associate Editor
