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File photo of cattle in an Alberta feedlot. (Geralyn Wichers photo)
Beef cattle, Livestock, Markets

Klassen: Cash feeder prices soften on futures market uncertainty

Supplies are higher than expected as consumers reign in spending

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The live and feeder cattle futures appear to be incorporating a risk discount due to the uncertainty in demand. Consumers are pulling in the reigns on spending. Interest rates are at 40 year highs and inflation remains elevated. Larger supplies and lower demand results in lower prices.
JBS signage at Greeley, Colorado. (JBS.com.br)
Livestock, Markets

Third-quarter profit plunges for JBS

Low U.S. pork prices, beef margins and global chicken glut cited

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Sao Paulo | Reuters — JBS SA, the world’s biggest meatpacker, reported an 86 per cent drop in third-quarter net income compared to a year ago on Monday, sliding to around 573 million reais (C$166.3 million). Net income was under the LSEG consensus forecast of 724 million reais, and far below the whopping four billion-real
CME February 2024 live cattle with 20-, 50- and 100-day moving averages. (Barchart)
Livestock, Markets

U.S. livestock: CME cattle up off last week’s sell-off

Lean hog futures also turn higher

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Chicago | Reuters — Chicago Mercantile Exchange live cattle and feeder futures advanced on Monday in a rebound from recent declines to multi-month lows. Short-covering helped boost the markets, as losses driven by fund liquidation and technical selling last week were overdone, brokers said. The U.S. beef industry still faces tight supplies of cattle, after
CME February 2024 live cattle with 20-, 50- and 100-day moving averages. (Barchart)
Livestock, Markets

U.S. livestock: CME live cattle mixed, feeder cattle firm

Lean hogs up with pork cutout

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Chicago | Reuters — Chicago Mercantile Exchange (CME) live cattle futures ended the week mixed on Friday, as traders and analysts said technical and algorithmic trading sent contract prices whipsawing during the session. Feeder cattle futures firmed as Chicago corn futures posted a third straight weekly decline, as grain markets continued to react to a
Manitoba sees first bird flu case of 2023
News, Poultry

Manitoba sees first bird flu case of 2023

The virus was confirmed in a commercial poultry operation in the RM of Rhineland

By
Manitoba’s grace period with highly pathogenic avian influenza is at an end. On Nov. 8, the Canadian Food Inspection Agency confirmed a case on a commercial poultry operation in the RM of Rhineland in south-central Manitoba. It is the province’s first domestic case in almost a year. Manitoba’s last brush with HPAI in domesticated birds
CME December 2023 live cattle with 20-, 50- and 100-day moving averages. (Barchart)
Livestock, Markets

U.S. livestock: Cattle sell-off sends nearby contracts plunging

CME hogs mixed in choppy trade

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Chicago | Reuters — Chicago Mercantile Exchange (CME) cattle futures fell sharply on Thursday, amid fund liquidation, growing concern over consumer demand and signs of prices falling in the cash market. Traders and funds scrambled to shed some of their long positions, after betting the bull market in cattle futures would continue well into the
CME December 2023 live cattle with 20-, 100- and 200-day moving averages. (Barchart)
Livestock, Markets

U.S. livestock: Cattle futures rally late in session on technical buying

Hogs down on technical selling

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Chicago | Reuters — Chicago Mercantile Exchange (CME) cattle futures saw a choppy day of trading on Wednesday, before rallying later in the session on short-covering and technical buying, traders said. December live cattle futures dipped below its 200-day moving average of $177.50 before bouncing up (all figures US$). January 2024 feeder cattle futures also
“…the trappers that have to expend fuel to haul all their equipment out are not seeing a return. The incentive for them is not there.” – Carson Callum, Manitoba Beef Producers.
Livestock, News

Does B.C. hold the answer to predator removal?

Local beef producers say Manitoba program lacks incentive for trappers

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Manitoba Beef Producers are looking to other jurisdictions for solutions to predation. It’s the second year in a row that MBP’s District 10 meeting in the Arborg area, held Oct. 19, featured a resolution to overhaul Manitoba’s Problem Predator Removal Program. The Interlake is a hotbed for predation. Northern reaches of the district have more
CME February 2024 live cattle with 20-, 50- and 100-day moving averages. (Barchart)
Livestock, Markets

U.S. livestock: Cattle futures sink to May lows

CME December hogs continue higher

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Chicago | Reuters — U.S. cattle futures sank to their lowest prices since May on Tuesday on fund liquidation and profit-taking, traders said. Follow-through selling pressured the markets after losses on Monday, along with softer boxed beef prices, traders said. The U.S. Department of Agriculture priced choice cuts of beef at $300.38/cwt, down $1.34 from
(Photo courtesy Canada Beef Inc.)
Livestock, Markets

Klassen: Buyers contemplate feeder market prices

In adverse weather, sale results vary

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Compared to last week, western Canadian yearling markets traded $3-$5/cwt lower on average although limited numbers made the market hard to define. Calf markets traded $4-$8/cwt on either side of unchanged. It appeared that 700-plus-lb. calves were up $4 to as much as $8. The variation in the price structure was due to the adverse

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