Cattle markets are quiet across the Midwest, with select markets up from last week but down from the same time last year. Anne Wasko of Gateway Livestock Exchange said market selection remains below the five-year average.This is a good sign that there is strong demand for Round and Chuck moving towards the burger market, she says.
As for Western Canada, the feeder cattle market has not seen a significant increase, but prices remain at record levels. As prices have increased, carcass weight has also decreased significantly and is 30 to 40 pounds lighter than it was two weeks ago.
Alberta’s feeder cattle market is currently in a very favorable position for trade into the United States for the third week in a row. Historically its fundamentals are strongest in June and the market is well positioned. The big question now is whether to raise cattle at these record high prices, or take advantage of the lower profit costs we’re currently seeing to add a few extra pounds.
The weather seems to be cooperating as well. Previously strong market cycles have taken away both profitability and water, and as Wasko says, this year has their ducks in a row. People feel like they’re 10 feet tall and that their limits are bulletproof.
Our biweekly Friday Beef Market Update provides the latest information on cattle movement numbers, beef export statistics, value changes and more. This week, Gateway Livestock Exchange’s Ann Wasko talks about that and more with RealAg Radio host Sean Haney.
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