In a world market where volatility is the name of the game, “steady” is probably more positive than negative.
And that’s about where we are for this first full month of 2020, says Anne Wasko of Gateway Livestock Exchange. Nearly across the board — and across the border — prices are steady, cut out is steady, and numbers are in line with 2019. January isn’t really known for being a particularly explosive month for cattle selling anyway, of course.
In Canada, prices were up slightly for the last week, and even cow prices improved slightly, but overall it’s similar to last year, if that’s your barometer, Wasko says.
Cattle on Feed numbers out of the U.S. released this week turned out as expected with placements up 2 per cent and marketings up 5 per cent, and that echoes what’s happening here in Canada. Wasko says that, for Canada, the numbers we are seeing are the highest cattle on feed numbers since 2002.
Heading slightly east this week, Wasko also recaps what’s been happening in the Ontario market, where the loss of a major processor has many in the industry feeling the pinch on slow to move cattle.
Listen on for more in this week’s Beef Market Update: