Beef Market Update: Lower cash trade and loonie, but strong exports

Through the spring of 2018, we have talked about several common themes for the cattle markets that impact the fundamentals of this market. Even though Live Cattle futures finished up over $2 on Friday, the trade has been quite choppy, which gives traders little confidence that we are headed higher from here.

Here is a snapshot of the August Live Cattle contract over the last 30 days, 90 days and year.

It’s not all about the futures though, as cash was lower again this week in Alberta, and was expected to be lower in the U.S. as well. The Alberta cash price fell to $141.50 this week, which is a continued drop from the May 1st cash price of $164

Cow slaughter has been inflated 12% year to date by a tough calving season but also less cows heading state side.

Hear Shaun Haney and Anne Wasko discuss all of these factors and more in this week’s Beef Market Update:

 

RealAgriculture News Team

A team effort of RealAgriculture's videographers and editorial staff to make sure that you have the latest in what is happening in agriculture.

Trending

Wheat prices jump into August — This week in the grain markets

This week, winter wheat prices touched a three-year high, but it didn’t last. Chicago SRW wheat prices for September 2018 gained 5 per cent or about 26 cents US/bushel to close at $5.56. While the December 2018 contract was up 5.4 percent — or nearly 30 cents — to finish a tad under $5.80. In…Read more »

Related

One Comment

Angus

The cash markets and years to come with it and with all the predictions Ann shared my question is as cattle feeders and buyers in the market, where and when in the future will ranchers buy their cattle? Where will meat be distributed from?

Reply

Leave a Reply

 

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