Shrinking cattle herds in Canada and the United States are raising prices on the Chicago Mercantile Exchange to record levels, as well as those at Manitoba auction sites. “Lower supplies, strong demand,” summarized Allan Munroe, manager of Killarney Auction Mart. Prices remained elevated during the week ended March 10. Feeder steers weighing under 500 pounds
Cattle prices strong as U.S. futures break records
Shrinking cattle herds support values
Corn market cracks, but ready to pop
Current low prices may deter some U.S. farmers from planting corn
Corn appeared to crack under pressure on the Chicago Board of Trade as February came to a close. Having traded between US$6.70-$6.90 per bushel for much of February, collapses in wheat and soy prices, lacklustre U.S. exports and the U.S. Department of Agriculture’s bearish new-crop projections last month placed the May corn contract at a
Cattle prices stay high as temperatures plunge
U.S. cattle futures continue to climb higher
A recent bout of frigid temperatures could not keep most cattle producers away from Manitoba auction sites and prices remained high during the week ended Feb. 23. While some daytime highs were below -20 C, cattle numbers and prices remained elevated. In total, 9,061 animals went through the rings at eight auction sites during the
Wheat market waits for a lift
Circumstances seem to be setting up for a positive price breakthrough
There was little to find in terms of surprises within the U.S. Department of Agriculture’s (USDA) monthly supply/demand estimates released on Feb. 8 — and even less so with wheat. Ending stocks for U.S. wheat were projected at 568 million bushels, only one million more than in USDA’s January report and right between the low
Cattle prices maintain heat under cold temperatures
Don’t expect cattle to come rushing in at fall-run levels
Frigid temperatures kept some cattle sellers at home, but prices remained high during the week ended Feb. 2. Windchill values dipped below -40 C at times as the cold played a part in reducing the number of cattle going through the rings. In total, 6,218 head were sold at auction, compared to 11,113 during the
Soybean prices may remain unsettled
Canola has been relatively immune to soy’s price swings
After the U.S. Department of Agriculture cut its projections for U.S. soybean production (by 70 million bushels, to 4.276 billion) and carryout (by 10 million bushels, to 210 million) on Jan. 12, the March soybean contract lifted above the US$15 per bushel mark. Only six days later, the psychological $15.50/bu. level proved too much for
Manitoba cattle year in review: A tale of two halves
Producers entered 2022 reeling from drought but profitability returned later in the year
If there was ever a year that tested the mettle of Manitoba cattle producers, only for them to see their labours finally rewarded, it was 2022. The Manitoba cattle industry was in crisis mode at the start of the year, still reeling from the historic prairie-wide drought of the previous summer. Frigid temperatures accompanied one
Cattle prices still strong as holidays approach
Rising costs for trucking may curb demand from East
Before Manitoba cattle auction sites and producers take a break for the winter holiday season, they are being given an early gift of strong cattle prices. During the week of Dec. 15, lightest steers ranged from $260 to $346 per hundredweight, compared to a similar range of $260-$351/cwt during the previous week. The minimum price
Soyoil drop plunges soybeans, canola
Soybean industry slams meaningless increase in biofuel mandates from U.S. EPA
As the calendar flipped to December, the fortunes of Chicago soyoil, along with soybeans and canola, turned cold. On Dec. 1, the Environmental Protection Agency announced plans for a new biofuel blending mandate under the United States’ federal Renewable Fuel Standard. Starting in 2023, a greater volume of biofuels will be mixed with fuels at
Fall run cattle flow slows
Most of the animals sold are headed east or west rather than south
The fall run may be winding down as the number of cattle sold at Manitoba auction sites declined for the week ended Nov. 24. All eight auction sites held regular sales during the week and total number of animals going through the rings was 15,449, an 11.3 per cent drop from the previous week that
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