Beef Market Update: Market reversals, carcass weights, and what's going on with basis

It’s a mid-week Beef Market Update, and although we always love and appreciate having Anne Wasko from the Gateway Livestock Exchange on the show, she says what she’s about to say might not make people too happy.

Wasko says there’s two very different scenarios unfolding in the markets currently, and the good and the bad all depends on what side of the border you live on.

“Looking south of the border, the U.S. market continued to trade solid. They continue to be impacted by weather so their carcass weights are down. It’s helping to support the prices, and the demand is good,” she says. “Move north of the 49 (parallel), and you’ve got an Alberta, Saskatchewan fed market that lost another $2 to two and a half bucks last week, so that’s, if you’re counting, $12, so our average price last week was $148.50.”

Taking all that into context, Wasko says it’s been the weakest spot basis since 2014, with it slipping to $17.50 under.

As far as demand goes, she believes that just like 2018, it should be a solid year, adding, “wholesale beef prices, both in the U.S. and Canada, are very strong, well above where we were last year.”

Enjoy this week’s Beef Market Update below and if you have any questions or comments send Shaun an email at [email protected]

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