GFM Network News

Cattle prices maintain strength into summer

Thin trade does make it hard to get a handle on market

Feeder cattle prices have held strength during the summer doldrums at cattle auctions in Manitoba. “It’s tough to get a gauge because we only had about 25 or 30,” remarked Scott Anderson of Winnipeg Livestock Auction. “But based on numbers and quality, prices were steady.” Feeder steers between 800 and 900 pounds were between $155

New Canadian and U.S. estimates of canola and soybean acres were generally supportive for canola futures.

With seeding intentions clear, traders now watching the skies

Strength in the Chicago soy complex also helped lift canola values

Acreage data from government agencies supported canola values during the week ended July 2. On June 29, Statistics Canada estimated canola acreage across the country at 20.778 million acres, which was at the higher end of trade estimates, though slightly lower than the 20.956 million acres seeded the previous year. Canola prices were supported by

Demand strong ahead of summer slowdowns

Fed cattle prices have shown improvement

Prices for cattle at auctions across Manitoba were stronger ahead of the summer slowdown during the week ended June 11. “There’s some optimism for feeder cows, because we can put them away for a later market,” said Tyler Slawinski, an auctioneer for the livestock markets at Ashern and Gladstone. Demand is strong for heavier feeder cattle, which has supported prices, he said. At

Canola gains on veg oils’ strength

Pressure comes from the loonie’s recent improvement against the U.S. dollar

Canola prices climbed higher during the week ended June 5, despite strength in the Canadian dollar that would typically have a bearish effect on prices. Nearby canola contracts started the week at $457.10 per tonne and posted losses on Monday before rallying on Tuesday. By June 4, nearby contracts closed at $463.60 per tonne. The Canadian dollar was over 74

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,