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Manitoba cattle markets heat up heading into autumn

Feeder cattle futures rise as corn slips creating demand

Volumes are beginning to pick up at cattle auctions across Manitoba, a trend typically observed during fall months.

Butcher cattle, in particular, are coming to market in droves, mainly due to high feed prices and tight supplies following a dry summer.

“There’s a lot of product on the market,” said Harold Unrau of Grunthal Livestock Auction Mart. “That’s driving prices down.”

Prices for D1 to D2 class slaughter cows were between $65 and $85 per hundredweight at the auction market’s Sept. 3 sale, down slightly from the previous week. D3 to D5 class slaughter cows were also down slightly this week when compared to prices at the Aug. 27 sale.

Feeder cattle prices are likely to remain strong, as they aren’t seeing the same influx as butcher cattle coming to market.

Four- to five-hundredweight feeder steer prices were from $190 to $232.50, compared to last week at $165 to $190 per hundredweight.

“Some guys are trying to get (their feeders) early,” Unrau said.

U.S. feeder cattle futures have been stronger lately due to corn futures testing contract lows.

U.S. live cattle futures have been trending lower, as cattle markets had to adjust supply chains following the fire at Tyson Foods’ beef-packing plant in Kansas in August.

 

About the author

Glacier MarketsFarm

Marlo Glass writes for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.

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