Live cattle led the futures market lower this past week, with cash prices in tow, thanks to large supplies hitting the market. Cash cattle values in Canada fell by ten to 12 dollars, while U.S. prices were five to six dollars lower on the week. What’s frustrating for beef producers is demand and retail prices… Read More
The beef markets are riding an unusually high basis in both Canada and the United States, but that’s set to change. “So over the next eight weeks — between now and when June goes off — we will see the two converge,” says Gateway Livestock’s Anne Wasko, adding that in 2015 basis was +20 when… Read More
A strong basis in Canada and the U.S. is prompting cattle feeders to sell sooner than later, and at lower weights. “When you pick up cattle prices in the South Plains $3-5 from last week — 121/122 — and the futures dropped as we’ve seen, you continue to get this widening spread,” says Anne Wasko of… Read More
Whether we’re talking calving or barbecuing, it’s not ideal when temperatures are 20 degrees below their seasonal normal. The delayed onset of spring is not doing ranchers any favours, with calves hitting the ground in difficult conditions this spring (if we can call it that). At the same time, with large cattle supplies hitting the… Read More
As a snowstorm bears down on the prairies just in time for spring calving, the cattle markets continue their slide downwards, and futures markets try to figure out how low they have to go to clear additional product in the value chain. That’s where we start this week’s discussion from Beef Market Update analyst Anne… Read More
Statistics Canada has confirmed once again that Canadian cattle producers are not following their American counterparts in expanding the beef herd. The federal agency published its January 1, 2018, inventory report this week, and Anne Wasko, of Gateway Livestock, walks us through the numbers in this Beef Market Update. First of all, for the not-so-analytical… Read More
Cattle markets have remained strong, although we saw a technical correction lower on the futures market this week. “Maybe we’re getting a little numb to it, but futures markets continue to be extremely explosive whenever they tend to move. Up until this week, the market’s been building to recent highs, but futures markets, led by… Read More
Though you may not be able to tell from the last week of quiet trading, it’s been a busy month for the cattle markets. On January 31, the United States Department of Agriculture released its cattle inventory report for January 1, showing a one percent increase in all cattle and calves in the U.S. compared to… Read More
The Bank of Canada raised the overnight rate target to 1.25 percent this week, with a cautionary note that touched on the uncertainty around the North America Free Trade Agreement (NAFTA). The announcement caused brief volatility in the Canadian dollar, but will this change, or the one or two other hikes expected by economists affect cattle… Read More
Cattle markets are kicking off 2018 like it’s 2017, with strong prices and a strong basis in Western Canada, in spite of a higher Canadian dollar. Factoring the jump in the Alberta fat cattle market last week to around C$167, the loonie rising over 80 cents, and a U.S. price of around $123, the spot… Read More
While much of the focus on beef has been on international negotiations, Gateway LIvestock’s Anne Wasko brings the numbers a little closer to home, in the Beef Market Update with host Shaun Haney. The United States saw great numbers for October exports, says Wasko, with “beef was up 13 percent from a year ago, pork… Read More
Cattle markets have dropped off their highs from a few weeks ago, but they’re still well ahead of where they were last year at this time. The February live cattle contract, for example, is up 28 percent in the last year. “We’ve had solid markets all the way around,” says Anne Wasko of Gateway Livestock… Read More
Live cattle futures have found reasons to rally since early September, even in the face of large placements in a bearish cattle on feed report last week. It’s a combination of market fundamentals — profitable margins, lower carcass weights, and strong demand — driving the market out of the lows set around Labour Day, says… Read More
There’s a flavour for strong beef demand in the country, says Anne Wasko, market analyst with Gateway Livestock, which has producers feeling good about market positioning. Last week’s slaughter report showed a 6.3 percent increase in animals killed in federally inspected plants in Canada, when compared to last year at this time. It’s good news… Read More
Last week’s Cattle on Feed report, published by the United States Department of Agriculture, listed a 4 percent increase in cattle and calves on feed for the slaughter market, when compared to September 1, 2016. In August, placements totalled 1.93 million head, up 3 percent from 2016. “There was a bearish surprise to the placement,”… Read More