Holiday season — the U.S. Thanksgiving and Christmas time of year — is around the corner, and that’s showing in the beef market.
The upcoming holidays are impacting the choice cutout and while the chuck primal is starting to come off, the strength of the market is in the loin and rib cutouts, says Anne Wasko of the Gateway Livestock Exchange in this latest episode of the Beef Market Update. The choice supply select spread has widened to $27 and while that’s not a record, it’s as wide as it’s been for some time, she says.
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As for western Canada, on-feed numbers and September placements are down according to the most recent CanFax report. This has made for the fifth consecutive month of smaller year over year placements. Wasko surmises that there will be a shift in that downward trend for October. The Canadian fat cattle market has remained quiet and steady.
While traditionally many people don’t think of Thanksgiving and Christmas as being ‘beef holidays’, Wasko says that, “in recent history, it’s been… right up there in terms of moving into that early grilling season that we see in the spring. It’s really turned into a feature item that folks want, that consumers want to see on their table for the holiday season.”
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