After the drought of 2021, the ample spring precipitation seen across much of Manitoba this April should give pastures a good start for 2022. However, the sheer amount of rain and snow all at once has also led to muddy yards and impassable roads, limiting activity at the province’s cattle markets during the last week
Rainy, snowy weather hinders cattle traffic
Chicago June live cattle futures were up on the week
Old- and new-crop canola values continue climbing
Traders aren’t yet counting on a sea of yellow on the Prairies this summer
Another week, another round of fresh highs in canola futures as the bullish uptrend in the market showed no signs of subsiding. A profit-taking correction always remains a possibility, but as traders like to say, ‘the trend is your friend… until it’s not.’ The new-crop November contract posted the biggest gains during the week ended
Canola’s uptrend intact, even for new-crop futures
Supplies of vegetable oils are looking tight worldwide
The ICE Futures canola market held strong during the first week of April, with new-crop months hitting fresh contract highs. While the old-crop fundamentals of tight supplies remain supportive, the continued rise in the deferred months is somewhat puzzling at first glance. As far as the old crop is concerned, the cupboards are almost bare.
Feeder, butcher cattle in healthy demand
Feeder steers valued well above feeder heifers
The last week of March saw cattle markets hold relatively firm across Manitoba, with good demand for both feeder and butcher cattle moving through the rings. Prices were stronger on the week for most classes of cattle, which was welcome news to the local sector, given recent volatility in U.S. cattle and grain futures. “We’re
Someday we’ll see it, the rainbow contraction
A bull market still needs to be fed every day
Why are there so many songs about rainbows, and what’s on the other side? The best quote I heard while covering the agricultural markets over the week ended March 25 was from an analyst rephrasing the age-old saying of ‘What comes up, must come down.’ He noted grains and oilseeds will eventually ‘see both sides
Grain markets: Wheat values leap, drop in volatile trade
North American grain and oilseed markets remained highly volatile in early March, with wheat seeing some of the largest price swings as traders reacted to Russia’s invasion of Ukraine and tried to figure out what the situation might mean for global trade. Chicago soft wheat originally led the three U.S. wheat contracts to the upside,
Stormy grain trade dampens cattle values
Manitoba’s sale traffic remained relatively steady last week
Russia’s invasion of Ukraine sent grain prices climbing sharply higher during the first week of March, which in turn sent Chicago live and feeder cattle futures down sharply. Activity held relatively steady at Manitoba’s cattle auctions during the week, although heavier feeder animals did see some pressure. In the weekly report from Killarney, the week’s auction
War in Ukraine trumps market fundamentals
U.S. wheat values set fresh highs upon Russia’s invasion
Russia’s invasion of Ukraine added fuel to the raging fire of the agricultural markets during the week ended Feb. 25, with any typical supply/demand fundamentals that would usually provide direction taking a back seat to the developing crisis. Ukraine and Russia are both major players in the world wheat market, and the United States wheat
Canola stuck in range despite gains in other vegetable oils
Whether canola needs to run even higher is still a question mark
The ICE Futures canola market saw some choppy activity during the week ended Feb. 17, generally holding rangebound just below the highs hit earlier in the month. The relatively steady tone in canola came despite broader gains in outside vegetable oil markets, as canola had been looking overpriced compared to competing oilseeds for some time.
Tighter cattle supply bodes well for spring values
Demand for Manitoba animals is coming from the East, West and South
Manitoba cattle auctions were busy during the second week of February, with slaughter cows and lighter-weight feeders seeing solid demand. More strength is expected in the next few months, although high feed costs and transportation issues were being followed closely. While the numbers moving through the rings were relatively solid, they were still below what
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