GFM Network News

Demand returning to Manitoba cattle sales

An increased pace in beef processing helped lift cash prices and futures

Slaughter and feeder cattle prices in Manitoba have recovered slightly from prior lows caused by processing plant shutdowns due to COVID-19. “Between when they bottomed out two weeks ago and now, we’re probably seeing a spread of about 30 to 50 cents higher,” said Tyler Slawinski, an auctioneer for Ashern and Gladstone’s markets. Slawinski credited the uptick in

Canola holds steady as seeding gets underway

Crude oil pressures and potential for major soy exports weigh in on trading

Canola prices held steady during the week ended May 15, despite turbulence from outside markets. Nearby canola contracts started the week at $471.30 per tonne and traded on either side of unchanged for consecutive trading sessions during the week. On May 14, the July contract closed at $470.70 per tonne. July soyoil dropped by about

Heavyweight cattle prices pressured by lack of demand

Plant closures are adding to the usual seasonal lull expected for this time of year

Cattle volumes at auctions across Manitoba are starting to dwindle, which is typical for this time of year. “Numbers are down everywhere,” said Rick Wright of Heartland Order Buying Co., remarking that some auctions had already switched to their summer schedule of holding auctions every two weeks. Prices for feeder cattle below 750 pounds have held steady, but

A bag of beans sits atop bulk soybeans at a Walmart in Beijing on Sept. 23, 2019.

Oilseeds draw strength from China’s recent market action

Oil’s fading fortunes put pressure on canola, not to mention other crops

Canola prices showed impressive resilience during the week ended April 24 after being battered by outside markets earlier in the week. On April 20, West Texas Intermediate (WTI) crude oil futures dropped into negative territory to close at minus US$37.63, as traders bailed out of the May contract before its expiry date. The June contract

Supply chain problems weigh on cattle prices

Locals who usually seek cattle for grazing are staying clear of auctions

Auction markets across the province are feeling the burden of COVID-19, as supply chain issues have put pressure on feeder and butcher cattle. Feeder cattle prices at Grunthal Livestock Auction Mart were steady to slightly lower during the week ended April 17, with sharper losses observed in butcher cattle prices. Weakness in butcher cattle pricing

Snowbound farmers’ reduced sales drag on canola values

Unfounded intel suggesting a breakthrough on the canola ban was briefly supportive

Cold spring temperatures and a late snowstorm depressed canola markets during the week ended April 3. While nearby contract prices started the week with relative strength, that petered out by midweek when an impressive amount of snow fell in eastern Saskatchewan and western Manitoba. That, combined with cold temperatures, discouraged some farmer selling and sidelined some trading activity. Earlier in the week,

Demand fluctuations put pressure on cattle prices

A lower loonie could insulate local prices against declines in U.S. futures

Prices at Manitoba’s cattle auctions were slightly lower during the week ended March 20, driven largely by fluctuations in demand. Tara Fulton, manager of Gladstone Livestock Auction Mart, noted prices for heavier cattle over 750 lbs. have been under pressure for the past three weeks. “Demand for lighter-weight animals has been strong all along, because

A trader works on the floor of the New York Stock Exchange (NYSE) shortly after the opening of trading in New York on March 13.

Crude oil war, COVID-19 fears drag commodity markets lower

Uncertainty has sidelined many participants in the canola market

Canada’s grain markets haven’t been immune to the growing panic surrounding the COVID-19 coronavirus and its impact on global economies. At the start of Monday’s trade, crude oil futures plummeted by over 30 per cent following a dissolved agreement between Russia and Saudi Arabia, the de facto leader of the Organization of Petroleum Exporting Countries

Live cattle futures drag on local prices

Time is the insulator for prices in lighter-weight cattle, for now

Plummeting live cattle futures put pressure on local heavyweight cattle prices at Manitoba’s cattle auctions during the week ended March 6. Allan Munroe of Killarney Auction Mart noted “a large price slide” between 600- and 800-lb. cattle, as prices for lighter cattle remain strong. Last week, 700- to 800-lb. feeder cattle were priced between $180

A Metro Vancouver Transit officer watches as a train passes on a westbound track while protesters block eastbound tracks on a CP rail bridge at Port Coquitlam, B.C. on Feb. 13.

Jury still out on blockades’ impacts on grain traffic

Reduced farmer selling has somewhat insulated prices so far

Canadian news headlines have been dominated in recent weeks by reports of ongoing rail blockades and demonstrations in solidarity with the Wet’suwet’en nation — but the jury is out as to how the protests will impact Canada’s grain markets. A daily report from Canada’s Ag Transport Coalition detailed the impact that blockades are having on