Markets
Crop quality issues across North America and Europe could see durum prices peak in November, says one analyst
Durum buyers have begun chasing durum sellers, but they aren’t chasing too hard yet. However, some analysts think western Canadian bids for No. 1 and 2 durum are likely to rise as supplies of quality durum diminish. “I’ve been watching the market to see if it would eventually take off,” said Mike Krueger of the […] Read more
Markets
CME live cattle, hog futures stumble on profit-taking
CHICAGO, Nov 3 (Reuters) – Chicago Mercantile Exchange live cattle futures finished lower on Thursday, hit by profit-taking and early-session technical selling, traders said. Investors sold the October contract and simultaneously bought deferred months, in a trading strategy known as bear-spreading. Most actively traded December live cattle closed 1.300 cents per pound lower at 104.075 […] Read more
Is the chickpea crop worth saving?
Three-quarters of Saskatchewan’s chickpea crop remains in the field and is in terrible condition, say analysts. Saskatchewan Agriculture reports that 25 percent of the crop had been combined as of Oct. 24, compared to an average of 82 percent for all crops. “The Canadian chickpea crop is a disaster,” said Marlene Boersch, analyst with Mercantile […] Read more
India preps for record harvest
Analysts are divided over reports of a record-smashing Indian kharif or summer pulse crop harvest. The Indian government estimates farmers will harvest 8.7 million tonnes of pulses this fall, up 22 percent from the previous record. That includes 4.3 million tonnes of pigeon peas, which is 35 percent higher than the previous record for that […] Read more
Chinese wheat subsidies called clear trade violation
China continues to flagrantly violate its World Trade Organization obligations, says U.S. Wheat Associates. The Chinese government set its 2017 state wheat purchase price at 2,360 yuan per tonne last week, which is unchanged from the previous two years. That amounts to $349 US per tonne or $9.50 per bushel, which is about double what […] Read more
Canada needs more diversified agricultural trade
Getting the Canada-European Union free trade deal (sort of) approved is a big step in the right direction for hedging Canada’s trade exposure. But a lot more is needed, whether or not the Comprehensive Economic and Trade Agreement is eventually ratified. Not only does Canada want access to more overseas markets, but it badly needs […] Read more
Canfax 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. Fed cattle rise The fed steer weighted average was $134.92 per hundredweight, up $2.52, and heifers averaged […] Read more
WP livestock report
Hogs stabilize U.S. hog prices levelled out after suffering sharp declines this fall, but a rally is not likely because ample supply is still available. The U.S. national live price average for barrows and gilts was US$35.00 per cwt. Oct. 28, up from $34.42 Oct. 21. U.S. hogs averaged $44.48 on a carcass basis Oct. […] Read more
Hogs surge on technical buying; cattle mostly higher
CHICAGO, Nov 2 (Reuters) – Chicago Mercantile Exchange lean hog futures soared 3 percent on Wednesday, rebounding on technical buying from the steep losses seen in the previous session, traders and analysts said. Cattle futures also were mostly higher, even as some contracts edged slightly lower after hitting one-month peaks. Higher prices for wholesale beef […] Read more
VIDEO: Canada’s agricultural markets update – November 2, 2016
D’Arce McMillan, The Western Producer markets editor, monitors trends in the North American and global agricultural markets. Each week he hosts a market video about crops. The video is designed to help viewers understand the forces responsible for changes in the trade. If agricultural markets are important to you, we have you covered.
