Markets
Cattle futures prices have come off record high levels but should remain strong in 2024 because market-ready cattle supply will be tight. The price level will also be affected by how well the American and Canadian economies do in the coming year and how secure consumers feel. I wrote recently about the signs that inflation […] Read more
Markets
Prairie soybean acreage increase has a ceiling
Specialists say the crop is a ‘sub-tropical species’ that likely can’t reach four to five million acres in Western Canada
Not long ago, soybean advocates were expecting the crop to reach four to five million acres in Western Canada. After several years of drought, industry experts are now saying that soybeans can still perform on the Prairies, but likely on a smaller number of acres. “I think Manitoba will probably end up at 1.5 to […] Read more
China corn breeders ready to double GMO planting in ’24
BEIJING, China (Reuters) — Chinese corn breeders are preparing to plant more than double the amount of genetically modified corn nexts year than in 2023, three industry sources said. Beijing is expected to tightly control the rollout of GMOs for a second year. GM corn will be allowed on around 1.66 million acres in eight […] Read more
Canal drought hits shipping
REUTERS — Bulk grain shippers hauling crops from the U.S. Gulf Coast export hub to Asia are sailing longer routes and paying higher freight costs to avoid vessel congestion and record-high transit fees in the drought-hit Panama Canal, traders and analysts said. The shipping snarl through one of the world’s main maritime trade routes comes […] Read more
Canfax report
This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattle Association. More market information, analysis and statistics are available by becoming a Canfax subscriber by calling 403-275-5110 or at www.canfax.ca. Fed market declines The fed market continues to grind lower, dropping nearly $10 per hundredweight over the […] Read more
WP livestock report
Hogs The U.S. national live price average for barrows and gilts Dec. 18 was $36.54 and $42 Dec. 11. U.S. hogs averaged $48.39 on a carcass basis Dec. 18, down from $49.66 Dec. 11. The U.S. pork cutout was $ 83.97 per hundred weight Dec 18, down from $86.62 on Dec 11. The estimated U.S. […] Read more
Global markets watch Argentina’s export taxes
SASKATOON — Michael Cordonnier did a double take after reading that Argentina’s export taxes are heading higher. After all, newly elected president Javier Milei had campaigned on a platform that included slashing those very same taxes. “He’s doing exactly the opposite of what he promised 10 minutes ago,” said the publisher of the Soybean and […] Read more
Canadian agricultural exports to U.S. surpass imports
SASKATOON — Canada has built a sizable agricultural trade balance surplus with the United States. The balance totalled $18.3 billion in 2022, up from $1.8 billion in 1993. “While the trade balance has fluctuated over the past 30 years, Canada consistently maintained a positive trade balance with the U.S. when it comes to agriculture, agri-food […] Read more
Ag Canada boosts non-durum wheat export estimate
SASKATOON — Agriculture Canada has dramatically increased its 2023-24 non-durum wheat export estimate in its latest supply and demand report. “Exports are raised 11 percent from last month’s report to 20 million tonnes, as Canadian wheat continues to move swiftly to international markets,” it said in its Dec. 15 report. That is an extra two […] Read more
Flax price stable as production woes continue
SASKATOON — Global flax production problems are raising prices in the European market but not yet in Canada. Oil World estimates global production at 2.94 million tonnes, a 21 percent reduction from the previous year. “Deteriorating profit margins induced farmers not only in Canada but also in Russia and Kazakhstan to shift to more lucrative […] Read more
