Markets
The Canadian dollar is always a major consideration in the beef business. “As the dollar started to sink, so did the cattle markets,” Brian Perillat, senior market analyst for Canfax, said at the Canadian Beef Industry conference held in Calgary Aug. 9-11. The movement of currency rates can wipe out profits or result in a […] Read more
Markets
Stronger U.S. economy, 80 cent loonie good for cattle sector
China may not shut out all canola
Farmers probably don’t have to be too worried about China shutting the door to Canadian canola, say some analysts. Not only is China unlikely to completely close the door, but there is also good demand around the world for the crop, the Chinese still want it and carryout supplies should be low again. “I’m fairly […] 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 test lows The Canfax weekly weighted average for fed steers was $142.21 per hundredweight, down […] Read more
WP livestock report
Hogs drift lower U.S. hogs averaged US$62.59 on a carcass basis Aug. 12, down a few cents from $62.77. The U.S. pork cutout was $74.56 per hundredweight Aug. 12, down from $74.76 Aug.12. The estimated U.S. weekly slaughter for the week to Aug. 12 was 2.291 million, up from 2.236 million the previous week. Slaughter […] Read more
CME live cattle stretch losses to 9th straight day
CHICAGO, Aug 25 (Reuters) – Chicago Mercantile Exchange live cattle contracts on Thursday tallied losses for a ninth day in a row, pressured by bearish market fundamentals that offset futures’ discount to cash prices, traders said. August live cattle ended down 0.250 cent per pound to 112.475 cents. Most actively traded October closed 0.375 cent […] Read more
Quality spring wheat will reap premium
It’s a nice time to be farming in the spring wheat zone. Not only does that type of wheat demand its usual few cents spread to hard and soft winter wheats, but it’s building up a nice premium as low quality wheat floods the world. “It’s all pushed (the world wheat market) towards quality,” Mike […] Read more
Pea production could topple previous record
Lentils are suffering, but Canada’s pea crop is in great shape, according to analysts. Saskatchewan Agriculture is forecasting an average yield of 40 bushels per acre, which would be 23 percent above the 10-year average. An even better crop is expected one province over in Alberta, where the government is predicting an average yield of […] Read more
Canola falls on weaker soy
ICE Canada canola futures fell on Wednesday, snapping a three-day winning streak, on pressure from commercial hedges and weaker U.S. soy prices. Statistics Canada pegged this year’s canola production on the low range of expectations, which may have put some hesitation in the market. Losses in crude oil and the vegetable oil market also weighed […] Read more
CME live cattle futures slump eighth day in a row
CHICAGO, Aug 24 (Reuters) – Chicago Mercantile Exchange live cattle futures on Wednesday settled in negative territory for an eighth straight day, and hit a one-month low, following disappointing preliminary cash prices, traders said. August live cattle ended down 0.525 cent per pound at 112.725 cents. Most actively traded October closed 0.825 cent lower at […] Read more
Corn yields above average, soy pod counts low in southwest Iowa-tour
STANTON, Iowa, Aug 24(Reuters) – The corn crop in southwestern Iowa showed above average yield potential but lagged behind the U.S. government’s record projection for the country’s top corn producing state, scouts on an annual tour found on Wednesday. Soybean crop potential in the area was below average, although recent rains may help boost prospects […] Read more
