The cattle market has had more than a few surprises lately. After maintaining momentum to the upside longer than expected, the market saw a quick adjustment to the downside this week, as Anne Wasko highlights in this latest Beef Market Update.
“Not that the downtrend wasn’t expected, we’re heading into the summer. We’ve had a great demand run until this time, but certainly seasonals suggest that should slow down,” she explains. “The surprise though is how much this market can move from one week to the next.”
On the export side, the latest Canadian numbers show April 2017 was the best April since 2010, with shipments up 3 percent year-to-date. Details were also released this week on what the new U.S. beef export access into China will look like, and there’s some good news for Canadian beef, as it looksl ike animals born in Canada, slaughtered in the U.S. will be allowed.
Rains over the last week have been welcomed, and should help keep animals at home longer, but the dry conditions in parts of Western Canada and the northern U.S. could be a factor looking ahead to the fall run, she notes.
Listen to Anne’s latest Beef Market Update chat with Kelvin Heppner, here: