Beef Market Update: Strong demand, Canadian basis levels & packer margins for Cargill

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It’s been a volatile couple of weeks in cattle futures, with the market giving back most of last week’s gains in the last few days.

Meanwhile, cash prices in Western Canada have remained strong, reports Anne Wasko in this latest Beef Market Update, with average prices for fed cattle getting back into the mid-150s in Alberta. Wasko notes the mixed bag continues to mean very strong basis levels for Canadian cattle.

Pasture conditions are also mixed, with recent rains being too little, too late in many parts of the prairies.

Anne joins Shaun to discuss price activity, how strong beef packing margins contributed to Cargill’s earnings, looming large supplies of beef and pork, and concerns about thickening borders:

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