Trade was slow to get moving this week in the U.S. In this Beef Market Update, Anne Wasko of the Gateway Livestock Exchange tells RealAgriculture’s Shaun Haney that this could be due to packers possibly dragging their feet on the choice cut out, which has lost some of its momentum.
There is still a strong demand for choice cut out and middles, however as Wasko says, “the middles carry a lot, but they can’t carry it all.”
When it comes to the Canadian perspective, retail beef is up six per cent from last year at this time according to a recent report from StatsCan. With September price for beef at an all time counter high, Haney surmises that people are seeing not only the health benefits of beef, but enjoying the taste of it as well.
Calf and feeder markets are holding strong after a bit of a September low. Both of these markets have moved higher, which is neither seasonal or normal. “On average, if you compare where our calf price is today to where it was this same week last year, we’re about $45 a hundred higher. So it’s 250 bucks ahead. So it’s just been an amazing run,” Wasko says.
Wasko and Haney also discuss the implications of a new U.S. administration on the cattle markets. Watch the full discussion below.
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