Markets
Do not expect a durum price rally anytime soon, say analysts. “The prices are under pressure, and it looks like they’ll continue to be under pressure,” said Neil Townsend, director of G3 market research. He has noticed a disturbing early-season marketing trend: Canada has shipped 455,400 tonnes of durum through week 10 of the 2015-16 […] Read more
Markets
Cattle profit possible despite price dip
A buildup in the U.S. herd, along with heavier carcasses from feedlots pushed fed and feeder prices down
Record high cattle prices have come and gone, but next year could remain profitable for the average cow-calf producer, says a market analyst. “Let’s assume the Canadian dollar is similar to where it is today, my argument would be yes (to a profitable year),” said Anne Wasko of Gateway Livestock Exchange in Taber, Alta., and […] Read more
Oat prices unlikely to entice more Sask. acres
Manitoba growers proximity to processing plant in Minneapolis means returns exceeding $100 more per acre than Saskatchewan growers
Oats prices are not at a level that will prompt many farmers to book deliveries. “Canadian growers remain generally disinterested in oat values and have shown their disdain by limiting sales to this point,” said Oat Information analyst Randy Strychar in a commentary. Prices are OK in southern Manitoba, but farmers have lots of other […] Read moreCorn price to rebound as demand rises
The world’s largest corn company expects prices to head higher by next crop year. Monsanto says global oversupply of the crop has temporarily pressured prices lower, but that situation will be rectified by continued robust demand. “In fact, the world is consuming the current oversupply at a record pace with demand for corn growing by […] Read more
WP livestock report
HOGS Cooler weather and an improving supply of freshly harvested corn are helping to drive hog carcass weights higher, increasing pork supply. That weighed on U.S. cash hog prices as retailers started to plan more beef and poultry features after U.S. pork month. Iowa-southern Minnesota hogs delivered were US$53.00-$53.50 per hundredweight Oct. 16, slightly lower […] 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 weighted average live fed steer price was $169.15 per hundredweight, up from the […] Read more
Crude oil surplus will weigh down commodity sector for years
Weak crude oil prices could be around for a long time, acting as a drag on crop prices. Oil futures and crop futures do not move in lock step, but the price of crude affects crop prices because of their linkage in biofuel. Also, oil affects crop values because of its looming presence in commodities […] Read more
Loonie won’t fly
Farmers can count on a weak Canadian dollar continuing to offset low commodity prices, according to a senior bank economist. But a grain market analyst thinks the expected U.S. interest rate hike won’t materialize, which would lead to a stronger loonie. The recent rally of the loonie was an anomaly, said Shaun Osborne, chief foreign […] Read more
Wrap: Canola closes up a bit but wheat falls two percent
Forecasts for substantial rain in the U.S. southern Plains late next week battered wheat about two percent lower on Friday. Canola edged higher with a slight decline in the Canadian dollar and slightly stronger soy oil futures, but gains were limited by weaker U.S. soybean futures. November canola closed at $472.60 per tonne, up $1.10. […] Read more
LIVESTOCK-Strong cash prices rally CME live cattle futures by 3-cents/lb daily limit
CHICAGO, Oct 16 (Reuters) – Chicago Mercantile Exchange live cattle futures climbed sharply on Friday, with October settling up the 3-cents per lb daily price limit, ignited by short-covering after initial cash prices beat expectations. Spot October closed at 135.950 cents per lb and December rose 2.875 cents to 139.425. Live cattle’s trading limit will […] Read more
