Markets
WINNIPEG, Sept. 6 – Projected mustard production numbers released by Statistics Canada last week show a decline of almost 50 percent from a year ago, but for Richard Marleau, chair of the Saskatchewan Mustard Development Commission, the numbers could have been far worse. Mustard is grown mainly in southern Saskatchewan and southern Alberta, two areas […] Read more
Markets
Canadian mustard production down sharply
CME live cattle futures gain on firmer beef prices
CHICAGO, Sept 6 (Reuters) – Chicago Mercantile Exchange live cattle futures settled moderately higher on Wednesday, with help from short-covering and improved wholesale beef values, said traders. December received added support from fund buying after the contract topped the 10-day moving average of 109.648 cents. October live cattle finished up 0.275 cent per pound at […] Read more
Bank of Canada raises rates, says future moves guided by data, markets
OTTAWA, Sept 6 (Reuters) – The Bank of Canada raised interest rates on Wednesday, surprising many, and left the door open to more rate hikes in 2017 even as it pledged to pay attention to how higher borrowing costs would hit Canada’s indebted households. The rate increase helped drive the Canadian dollar up to close […] Read more
Canadian canola stocks down, lentil, wheat stocks up
As of July 31, Canada’s total stock levels for canola and oats were down from the same date in 2016. Meanwhile, wheat, barley and lentil stocks increased compared with July 31, 2016. Wheat Total stocks of wheat were up 32.6 percent to 6.9 million tonnes. A Reuters poll of the trade had a range of expectations of 4.7 to 7.2 million for […] Read more
Hogs jump most in 2 months on technicals, pork packer demand
CHICAGO, Sept 5 (Reuters) – U.S. lean hog futures surged about 4 percent on Tuesday, boosted by chart-based buying and stronger demand from pork packers, traders and analysts said. Hog futures on the Chicago Mercantile Exchange notched the largest percentage gains in more than two months as prices continued rising from multimonth lows reached on […] Read more
Friday market wrap: strong loonie weakens canola
The sharply stronger Canadian dollar, that hit a two-year high, weighed down canola on Friday. Hedge selling, as grain companies offset buying of new crop from the combine, also weighed on canola. The dollar rose on ideas that the Bank of Canada could raise interest rates at its meeting next week. Expectations for a hike […] Read more
Cattle mostly firm on short covering; big supply weighs
CHICAGO, Sept 1 (Reuters) – Chicago Mercantile Exchange live cattle futures were mostly higher on Friday, lifted by end-of-week short covering following a decline to nine-month lows a day earlier, traders said. Futures, however, remain anchored by plentiful supplies of market-ready cattle and weak cash markets as fed cattle in the U.S. Plains this week […] Read more
Fewer cows culled than expected
CALGARY — Dry conditions in parts of the Prairies might bring an earlier than usual fall calf run but so far those same conditions haven’t resulted in more cows coming to town. Brian Perillat, senior analyst at Canfax, gave a generally bullish analysis Aug. 17 to those at the Canadian Beef Cattle Industry Conference, but […] Read more
August crop forecasts tend to underestimate
Trying to forecast final production when the crop is still growing is like shooting at a fast-moving target. Statistics Canada planned to release its first projection of Canada’s 2017 crop on Aug. 31, after this column was written. We’ll have full same-day coverage on our website and also in next week’s paper. UPDATE: You can […] Read more
U.S. feedlot cattle placements smaller than analysts expected
CHICAGO (Reuters) – U.S. ranchers in July placed 2.7 percent more cattle in U.S. feedlots than a year ago, but fell short of average analysts’ forecasts. Dwindling profits for feedyards, reflecting weaker fed cattle prices, discouraged them from buying calves for fattening, said analysts following the U.S. Department of Agriculture cattle on feed report Aug. […] Read more
