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Beef cattle

CME August 2023 live cattle with 20-, 50- and 100-day moving averages. (Barchart)
Livestock, Markets

U.S. livestock: CME live cattle soar as cash prices explode

Lean hog futures mostly lower

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Chicago | Reuters — Chicago Mercantile Exchange live cattle futures surged on Thursday as cash cattle traded as high as US$180/cwt in Texas and Kansas, up to US$9 higher than last week, reflecting strong demand from meat-packers amid rising beef prices and tightening cattle supplies, traders said. CME’s most-active August live cattle futures contract settled
CME July 2023 lean hogs with Bollinger bands (20,2) and CME’s cash lean hog index (brown line). (Barchart)
Livestock, Markets

U.S. livestock: CME lean hogs bounce on short-covering

Cattle futures up with beef prices, tighter supplies

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Chicago | Reuters — Benchmark July lean hog futures on the Chicago Mercantile Exchange jumped nearly five per cent on Wednesday, extending their two-day rally to 11 per cent on a round of bargain-buying following a months-long slump, traders said. CME July hogs settled up 3.8 cents at 83.325 cents/lb., while front-month June hogs ended
Forecast probability of above- or below-normal temperatures for the period from May 29 to June 26, 2023. Map issued May 25, 2023. (Map: Environment Canada)
Weather

A hot, dry Prairie June ahead

El Nino pattern could arrive

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MarketsFarm — June is expected to see a continuation of the hot and dry weather most of the Canadian Prairies has experienced in May, according to Scott Kehler, chief scientist for Weatherlogics. “It looks like late spring/early summer is pretty hot across almost all of Western Canada. The Prairies are all above normal [temperature-wise],” Kehler
CME July 2023 lean hogs with 20-, 50- and 100-day moving averages. (Barchart)
Livestock, Markets

U.S. livestock: CME lean hogs limit-up on bargain buying

Cash and beef values lift cattle futures

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Chicago | Reuters — Chicago Mercantile Exchange hog futures surged their daily limit on Tuesday, rebounding from Friday’s life-of-contract lows on a round of bargain-buying and short-covering toward the end of the month, and as feed grain futures fell sharply, traders said. “It really got grossly overdone to the bottom side,” said Dennis Smith, commodity
(Photo courtesy Canada Beef Inc.)
Livestock, Markets

Klassen: Canadian feeder market rationing demand

Improvement seen in feeding margins

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For the week ending Saturday, western Canadian feeder markets averaged $3-$6/cwt higher compared to seven days earlier. Weakness in the Canadian dollar along with strength in the deferred live cattle futures set a positive tone. Recent rains have enhanced yield potential for the Canadian barley crop, which also underpinned nearby cash values. Alberta packers were
Ag Minister Nate Horner speaks at the Harmony Beef plant at Balzac, Alta. on Feb. 7, 2023. (Government of Alberta video screengrab via YouTube)

Alberta ag minister, ag critic hang onto seats in election

Governing UCP retains smaller majority

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Alberta’s incumbent agriculture minister and official opposition ag critic both appear set to return to the legislature as Premier Danielle Smith’s United Conservatives (UCP) are expected to form a majority government. At about 1 a.m. Alberta time on Tuesday, Smith’s UCP was elected or leading in 49 of 87 constituencies; all remaining 38 went to
Many Manitoba producers have turned their attention from cattle marketing to spring seeding.
News

Prices fairly strong, traffic in decline

Smaller head counts make it more difficult to fill trucks

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With more farmers focused on spring seeding and fewer pickings in cattle pens, the number of cattle coming to sale has been steadily declining, according to auctioneer Tyler Slawinski of the Gladstone and Ashern Auction Marts. Feeder and slaughter prices remain good despite some weakness in the market, he added. “There’s just not the big
(Dave Bedard photo)
Markets

Net farm income down in 2022 despite high commodity prices: StatCan

Hike in farm fuel, fertilizer and feed costs is the largest in nearly 50 years

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Farmers’ realized net income dropped by over eight per cent in 2022 as expenses outpaced the rise in cash receipts, a new Statistics Canada report says. Realized net income is the difference between cash receipts and operating expenses, minus depreciation and plus income in kind. When cannabis is included, realized net income dropped by nearly
Smoke rises from a wildfire southeast of Fort Nelson in northeastern B.C. on May 27, 2023.
Crops, Weather

Prairie Forecast Update: A few small tweaks

Forecast issued May 28, covering the period from May 29 to 31

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The weather regime across southern and central Canada is currently being dominated by a large sprawling surface high over eastern regions with a slowly digging trough of low pressure over the West Coast. The flows around these two features have been producing warm summer-like conditions across the eastern Prairies with slightly cooler conditions as you

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