Live cattle led the futures market lower this past week, with cash prices in tow, thanks to large supplies hitting the market.
Cash cattle values in Canada fell by ten to 12 dollars, while U.S. prices were five to six dollars lower on the week.
What’s frustrating for beef producers is demand and retail prices are still strong, heading into some “great beef holidays” — the long weekends in Canada and the U.S., followed by Father’s Day, says Anne Wasko of Gateway Livestock.
Moving forward, it’s a busy time of year with branding, seeding and everything else spring-related taking place.
“This is a good reminder, when you see the market drop 10 dollars in a week like this, that you need to be doing business when the opportunities are out there, well in advance,” notes Anne.
Anne and Shaun discuss the dry conditions in Western Canada, how prices are dropping despite strong retail demand, as well as what’s happening in the pork market, in this latest Beef Market Update: