Seasonality is a big part of the conversation in this week’s Beef Market Update with Anne Wasko of Gateway Livestock Exchange.
In the last few years, the markets have been trending towards higher prices; however, as we start to steady out we are likely to start seeing a little more seasonality return to the cattle markets, says Wasko.
Although the southern U.S. has been experiencing a downward trend, markets seemed to ‘kind of catch this week’ in Texas and Kansas trading at 181. In the northern U.S., dressed was up, however choice cutout and select were lower. September and October are typically a struggle for demand and these wholesale prices.
Western Canada markets are also working within seasonal trends, with Alberta fat cattle trading steady to five lower, which is at the lower end of last week’s numbers.
Outside of seasonality, Canada is still recovering from the impact of the railway strike with beef exports in July being down seven percent. According to Wasko, June and July were some of the lowest in exports that Canada has seen in years; however, the numbers vary when broken down by country.
While Canadian exports have dropped, imports in lean trim beef have risen substantially from countries such as New Zealand and Australia when compared to last year, as demand for hamburger products has remained steady.
Watch the video below for the full update.
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