GFM Network News

Slaughter pace improved, cattle backlog remains

Manitoba’s livestock markets take the week off for Canada Day

Cattle auctions in Manitoba were quiet during the week ended July 3, with any yard not already closed for the summer taking the week off for Canada Day. Cattle futures in the United States moved higher during the week amid signs of a global economic recovery. The cattle industry is showing some signs of stabilizing after the COVID-19 pandemic forced slaughterhouse

Now that the crop is in the ground, and StatsCan has confirmed at about the expected acreage, it’s all down to yields.

Canada acreage estimates stand pat, U.S. surprise spurs bulls

Attention shifts to yield potential after StatsCan acreage report, U.S. numbers blindside grain trade

Recently updated acreage estimates from Statistics Canada came largely within market expectations, with the focus now shifting to growing conditions and the yield potential. The survey was completed in early June “and may not have captured all of the seeding delays and potential shifts that may have happened in central/northern Alberta and northwestern Saskatchewan because

The last few cattle are still headed to pasture as the market takes its annual break.

Culls dominate Manitoba cattle markets

Most facilities are already on summer schedule

Cull cows accounted for most of the cattle moving through the Manitoba cattle auction yards in mid-June, with facilities already closed for the summer or operating at a reduced schedule. “We’re seeing large volumes of cows come into the market in Manitoba,” said Rick Wright of Heartland Order Buying, adding that prices were relatively steady

ICE canola can’t hang on to its recent gains

Canola traders will now turn their attention to the skies

ICE Futures canola contracts ran into resistance during the week ended June 11, repeatedly trying and failing to continue the short-covering rally that had boosted prices off of nearby lows to start the month. Intermonth spreading was a feature, accounting for heavy volumes on occasion, as traders rolled out of the nearby July contract into

Increased slaughter activity revives optimism at auctions

Chicago live cattle last week climbed to their best levels since early March

Cattle prices at Manitoba auction yards have shown some considerable improvement over the past month, as activity starts to slow down ahead of the summer and earlier disruptions due to the COVID-19 pandemic have largely sorted themselves out for the time being. “It certainly has perked up,” Allan Munroe of Killarney Auction Mart said of

Manitoba’s Agriculture Department reported seeding at about 42 per cent complete at the end of the second week of May, down from the three-year average of about 55 per cent.

Canola futures run up into resistance

Canola’s downturn likely followed declines in CBOT soybeans and soyoil

After grinding higher for most of the past month, the ICE Futures canola market ran into resistance and took back a large portion of those gains during the week ended May 22. The July contract traded just below resistance around the 100-day moving average, near $475 per tonne, for a number of days before finally

Opinions are divided on how much canola Canada’s farmers will put in the ground this spring, ahead of Statistics Canada’s acreage survey due out May 7.

Canola trends higher against pandemic tides

Markets are keeping an eye on the state of last fall’s snowed-under crops

The ICE Futures canola market was relatively strong during the last week of April, despite the global pandemic that continued to roil most outside markets. The July canola contract trended higher all week, moving off of major lows in the process. From a chart standpoint, July canola sees support around $450 per tonne, with the

Beef-processing curbs drag on butcher cattle values

Buyers are reluctant to pick up cattle as packers slow their pace

Slaughterhouse shutdowns roiled North American cattle markets during the week ended April 24, with the bottleneck in the system likely to be felt at Manitoba auctions in weeks to come. “We got lucky this week,” said Allan Munroe of Killarney Auction Mart, which held its sale on Monday, April 20 — right before Cargill announced it

Locust swarms raise food security concerns

Widespread crop damage could put 25 million in famine situation

MarketsFarm – Locust swarms reaching levels not seen in decades are raising concerns over food security from Africa to as far east as India, according to reports from the Food and Agriculture Organization (FAO) of the United Nations. The locust crisis has intensified since the beginning of 2020, but got its start in 2018 when

Coronavirus leaves grain markets uncertain

A lot remains to be worked out as spring marches ever nearer

COVID-19 remained the overarching feature of just about everything in early April — the grain and oilseed markets included. The virus has touched all aspects of society and the ongoing uncertainty of what it means for trade led to choppy activity in the agricultural commodities. Canola futures bounced around during the week ended April 9,