Beef Market Update — CBIC '16 Edition: Buying Back Demand

The inaugural Canadian Beef Industry Conference is underway in Calgary, Alberta this week, and this morning, RealAgriculture’s Shaun Haney and Gateway Livestock’s Anne Wasko took the opportunity to film a Beef Market Update in-person, in our studio on the trade-show floor.

The duo started off talking about some of the good news in the industry, how we’re seeing North American cattle supplies building, and cattle producers are seeing lower corn prices.

“We’re still heading into harvest, but getting closer all the time and it’s certainly looking — as the futures are telling us — like we’re going to have a big crop out there in the U.S.,” says Wasko.

In the last few weeks, the cattle futures have also rebounded, so the bottoms might be in, according to Wasko, and once cash cattle prices move higher, cattle feeders can step back into the market.

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