Markets
High energy prices and a lysine shortage are propping up prices now, but the return of Brazil may bring a chilling effect
Market fundamentals suggest today’s soybean prices are overvalued and are in line for a sharp downturn, says an analyst. “We are holding a very high price compared to where things could be,” said Rich Nelson, chief strategist with Allendale Inc. Nearby futures were at US$12.48 per bushel as of Nov. 26. That seems inflated, given […] Read more
Markets
Inflation battle requires more context rather than panic
With Americans fixated on the cost of their Thanksgiving suppers and the release of the latest inflation reports, news services last week were full of headlines about rising food costs. It provided a juicy tomato for opposition politicians to throw at governments, allowing them to allege that the elites don’t care about the struggles of […] Read more
Finding farmers for the missing economic middle
There’s a growing hole in Canadian farm economics and filling it could be key to long-term farmer viability. Instead of a wide distribution of farm sizes from small to large, with most sitting somewhere in the middle, Canadian farms seem to have split into either the very small or very large. That’s an observation made […] Read more
India, U.S. agree to expand agricultural trade
Meeting comes on heels of a year of fractious relations between the two countries over a host of issues, including tariffs
NEW DELHI (Reuters) — India and the United States agreed last month to expand trade of some agricultural products, including U.S. cherries, alfalfa and distiller dried grains and Indian mangoes, grapes, shrimp and water buffalo meat. In a joint statement issued after the U.S.-India Trade Policy Forum meeting in New Delhi, the two countries’ trade […] Read moreCanfax report
This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattlemen’s Association. More market information, analysis and statistics are available by becoming a Canfax subscriber by calling 403-275-5110 or at www.canfax.ca. Feedlots challenge packers After a $6-$7 per hundredweight early week U.S. fed price rally last week, expectations […] Read more
WP livestock report
Hogs The U.S. national live price average for barrows and gilts was $42.11 Nov. 26, down from $44.07 Nov. 19. U.S. hogs averaged $55.13 on a carcass basis Nov. 26 up from $54.95 Nov. 19. The U.S. pork cutout was $83.98 per hundredweight Nov. 26, down from $89.82 Nov. 19. The estimated U.S. weekly slaughter […] Read more
Prairies canola crop pegged at 12.6 million tonnes
A Manitoba oilseed expert has pegged prairie canola production at 12.6 million tonnes. If that’s correct, it would be the lowest tonnage since 2010 and a 36-37 percent reduction from 2020, when Canada produced 19.5 million tonnes of canola. Dane Froese, oilseed specialist with Manitoba Agriculture, presented production estimates for the 2021 crop during a […] Read more
Australia estimates record wheat harvest
PARIS, Nov 29 (Reuters) – Australian farmers are on course to harvest a record 34.4 million tonnes of wheat this season, the country’s chief commodity forecaster said, as it raised its official estimate for the 2021/22 crop. The expected crop would be 3 percent above a previous record volume in 2020/21, the Australian Bureau of […] Read more
Cargill plant serves lockout notice
One of Canada’s largest meatpacking companies has served notice it will lock out more than 2,000 workers at its plant in High River, Alta., on Dec. 6 if contract talks are unsuccessful. Cargill said the deadline is the same as that of a strike notice it received Nov. 10 from the United Food and Commercial […] Read more
Competition likely to suppress pulse acres
Pulse acres will drop in 2022 despite sky-high fertilizer costs, according to one of Canada’s leading analysts. Stat Publishing is forecasting 4.06 million acres of lentils, a six percent decline from this year and 3.74 million acres of peas, down two percent. Stat editor Brian Clancey can’t justify penciling in an increase in plantings of […] Read more
