Erratic is the word of the day and the markets are responding hour-by-hour, day-to-day, and week-to-week with the news, says Anne Wasko of Gateway Livestock Exchange in this episode of the Beef Market Update.
In the southern U.S., cash markets bounced back last week and have managed to hold those gains. This follows a cycle of rallying, pulling back, and rallying again. In the northern U.S., trade remains steady, maintaining last week’s gains in Nebraska and Iowa. Meanwhile, feeder cattle futures have hit new contract highs, Wasko says.
Canadian cash markets started off sluggish last week, but momentum picked up by week’s end and carried into this week. The wholesale market followed suit, with the Choice cutout jumping $6.50.
“Ten days ago, it sure didn’t look like this, but the markets have recovered. As for now, they feel okay, but who knows what the next turn brings,” remarks Wasko.
Wasko and RealAgriculture’s Shaun Haney also discuss the highly integrated supply chain, cattle feeders’ aggressive market response, differences in farmer sentiment ahead of the Canadian Farmer Sentiment Index, and the potential impact of tariffs on U.S. packing plants.
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