Strong and high prices across the board was the story in the cattle markets this week.
In the southern U.S., trade remains steady at $2.01. Anne Wasko of Gateway Livestock Exchange highlights that this is the first time she has reported prices at this level on the Beef Market Update. Nebraska markets are steady to higher, with the wholesale market also climbing, further supporting the strong cash prices. Meanwhile, Alberta continues to see record-high fat cattle prices, reaching unprecedented levels of $2.70 live.
These rising prices, however, raise questions about sustainability, a concern Wasko and RealAgriculture’s Shaun Haney tackle on this episode of the Beef Market Update. “I still think we’ve got to let things play out on this demand story,” says Wasko. “At some point… the market — the consumer — will say uncle but it just hasn’t happened yet.”
Feeder cattle prices are also making waves in what Wasko describes as an “explosive” market. She also reminds listeners that livestock insurance premiums for feeder cattle in Alberta have been released, with Saskatchewan’s set to follow next week, and calf insurance scheduled to be available on February 4.
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