Cattle prices continue to push higher, but the real story may be what’s coming this fall, and how early signs are shaping expectations.
In this episode of the Beef Market Update, Anne Wasko of Gateway Livestock Exchange joins RealAgriculture’s Lyndsey Smith to discuss the latest market movements heading into the U.S. Memorial Day weekend, describing the markets in the U.S. as ‘explosive’ again.
Fed cattle prices surged once again, with live sales in Kansas up another $6 to $7. Nebraska came in $2 to $3 higher. The wholesale beef market is what Wasko calls the barometer of what is happening from week to week, and she reports that it jumped $11 since last week. While a strong demand this time of year is normal, Wasko says that “these prices are far beyond most of our expectations.”
Canadian prices also gained, with Alberta dressed cattle trading at $500/cwt — a record high. While demand remains strong, Wasko notes that prices typically ease later in the summer, with an expected decline of eight to 12 per cent as peak grilling season ends.
Meanwhile, attention is shifting to fall calf prices. Some forward sales of calves for October delivery have already sold at very high prices and unusually early. The strong interest suggests producers are watching closely and looking to lock in favourable pricing, says Wasko.
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