Local markets overcome turbulence in cattle futures
Moving into the summer, Manitoba’s ranchers are watching cash markets and the weather, with both delivering good news. Cattle futures at the Chicago Mercantile Exchange (CME) saw some turbulence over the past week, though prices for cattle at auctions in Manitoba were able to resist that pressure. “The cash market didn’t seem to reflect it,” […] Read more
USDA’s WASDE report painted a clearer supply picture
The canola market edged higher on the week as investors short-covered in the face of weather concerns in Western Canada. Positioning into a report from the U.S. Department of Agriculture was also a feature, though the data was less of a market mover than weather-based influences. Ahead of the weekend, traders were looking for rain, […] Read more
Feedlot profitability is supporting demand, for now
Prices for cattle at auction marts in Manitoba were steady on the week, and holding strong overall, though seasonally low volumes mean fewer ranchers are reaping the benefits. Manitoba auction marts are seeing strong cash prices, as profitability in the feedlot sector drives demand. Prices for non-fed cows and bulls have stayed steady on the […] Read more
Strong demand and rising futures boost sale prices
Prices for cattle at auction marts across Manitoba were sharply higher on the week, leading to an influx of cattle, touching “unheard of” levels in some areas, according to one local auctioneer. “Quite often, by the time we’re at the end of April we’re getting into those 400-, 500-head sales,” said Allan Munroe of Killarney […] Read more
Abundant U.S. and world supplies continue to depress the wheat market
ICE Futures Canada canola strengthened on the week, as wet weather in Western Canada continues to put last year’s harvest on hiatus. Fresh data from Statistics Canada painted a picture of this summer’s seeding, adding an element of spreading into the market. In the week ending Friday, April 21, canola gained more than C$20 per […] Read more
Wheat stocks limit any upside from lower U.S. acres
Speculation ahead of a much-anticipated dataset from the U.S. Department of Agriculture had ICE Futures Canada canola chopping around a wide range in the week ending March 31. USDA released its prospective plantings and grain stocks reports on March 31. The department’s seeding estimates often act as a major mover in markets, leaving values with […] Read more
The loonie gained strength but remained low overall
Prices for cattle at auction marts across Manitoba picked up on the week, as advances in the futures lent support. At the same time, cattle prices in the U.S. have seen an even bigger jump, leading to increased demand from the country. After being closed the previous week, Heartland Virden had a 3,207-head sale on […] Read more
Traders get a sense that canola supplies may tighten
As Western Canada sits blanketed in snow, canola prices are being driven by oilseed markets elsewhere — a short-term bearish factor. Looking to this year’s upcoming production, supply-and-demand outlooks have caused divergence within the market. The U.S. Department of Agriculture (USDA) on March 9 released its world agricultural supply-and-demand estimates (WASDE), bumping up soybean ending […] Read more
The western half of the region is at risk for low soil moisture
Parts of the Prairies could see limited soil moisture this growing season, as low precipitation and warm temperatures have compounded, a government specialist says. “We went into the fall in a fairly good position, but over the first part of the winter we received very low snowfall,” said Trevor Hadwen, agroclimate specialist with Agriculture and […] Read more
European corn borer counts could also keep climbing
Based on last year’s conditions, a Manitoba provincial specialist is flagging three insects producers should watch for this growing season. Flea beetles The species of flea beetle that most concerns John Gavloski, entomologist with Manitoba Agriculture, Food and Rural Development, mainly affects canola. Farmers often use treated seed to minimize flea beetle issues, but that […] Read more
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