Beef Market Update: Rising loonie pressuring cattle prices

A changing supply environment has the second half of 2017 shaping up much differently for cattle markets than the first.

“Already things are changing. If you’re in Canada, you’re well aware — and we’ve talked about this all year long — we’ve been in this strong basis environment where Canadian prices, because we’re tight on supply, are trading above or higher than the normal relationship between us and the US,” says Anne Wasko, marketing analyst with Gateway Livestock.

The strong basis and Canada’s dollar being valued under 80 cents (USD) were good for the Canadian beef market, says Wasko, but the dollar has gone up, and ScotiaBank now predicts it will be right around 87 cents by the end of 2018.

In this episode of the Beef Market Update, recorded September 15, 2017, Wasko joins RealAgriculture’s Shaun Haney to discuss futures chopping sideways (are we about to see a fall bottom?), cattle feeders’ red margins, and the upcoming fall run:

Leave a Reply

 

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Privacy Preference Center

Necessary

Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.

gdpr, __cfduid, PHPSESSID, wordpress_test_cookie, woocommerce_items_in_cart, woocommerce_cart_hash, wp_woocommerce_session, wordpress_logged_in, wordpress_sec, wp-settings, wp-settings-time, __cf_mob_redir, wordpress_cache
__cfduid

Marketing

Measuring interactions with the ads on the domain.

__gads,fsk_ut_2317
scmtid,v,a,JSESSIONID
IDE

Statistics

These are used to track user interaction and detect potential problems. These help us improve our services by providing analytical data on how users use this site.

_ga,_gid,_gat,_cb,_chartbeat2,_chartbeat4
_ga,_gat
_ga,_gid
metrics_token

Preferences

Preference cookies enable the website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.

chartdefaults, comment_author, comment_author_email, comment_author_url
JSESSIONID, _os_session,anonymous_votes,csrf-param,csrf-token,user,user-id,user-platform,intercom-session,intercom-lou,intercom-session
personalization_id, tfw_exp