2024 will go down as a year of market demand that was stronger than could have ever been anticipated. This exceptional demand helped to drive the smaller supply of beef to reach record prices.
In this last episode of the Beef Market Update for 2024, Anne Wasko of Gateway Livestock Exchange reflects on the past year and how incredible it is that the conversation of record prices that have been happening since the summer are still continuing as Christmas approaches.
As for this week, U.S. markets have been steady, which has made for some solid news with the weakness that was seen in the futures market in the later part of the week. The cutout however was all over the place, says Wasko. While a look at the calendar would typically make sense of that, the cutout closed strong with most of the movement happening within the rib primal which typically drives prices during the holiday season.
When it comes to Alberta fat cattle, markets closed in a really strong position as the low Canadian dollar supported cattle prices across the board. This strong trend continues when it comes to the Canadian bred heifer market with prices at the auction marts higher than they have ever been.
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