Markets & Farming Articles - Manitoba Co-operator

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(File photo courtesy Canada Beef Inc.)

Livestock, Markets

Klassen: Cattle producers facing drought-like conditions

By GFM Network News, Jerry Klassen May 4, 2021

Alberta packers were buying fed cattle on a dressed basis in the range of $262-$265 delivered this past week. Using a 60 per cent grading, the live price would be in the range of $157-$159. If a feedlot booked the bulk of its feed grains earlier in winter, feeding margins are now hovering in positive

CBOT July 2021 corn with Bollinger (20,2) bands. (Barchart)

U.S. grains: Corn hits eight-year high

Soybean, wheat markets slump

By GFM Network News, Tom Polansek May 4, 2021

Chicago | Reuters — Chicago Board of Trade corn futures hit their highest price since March 2013 on Monday on strong demand for limited U.S. supplies and concerns over dry weather hurting output in Brazil. Traders continue to focus on tightening global inventories as U.S. farmers plant corn and soy for the autumn harvest, rather

CME June 2021 lean hogs with Bollinger (20,2) bands. (Barchart)

Livestock, Markets

U.S. livestock: Hogs set life-of-contract highs on tightening supplies

Cattle mixed on concerns for cash prices

By GFM Network News, Tom Polansek May 4, 2021

Chicago | Reuters — Chicago Mercantile Exchange lean hog futures soared to contract highs on Monday on tightening U.S. supplies and rising cash prices. Prices have been rallying as consumer demand is rising due to easing pandemic-induced restrictions on dining and travel, analysts said. Hog supplies are tight after some farmers euthanized hogs or performed

Currency markets

Canadian Financial Close: Loonie stays high, gold rallies

By GFM Network News May 3, 2021

WINNIPEG – The Canadian dollar remained steady on Monday, maintaining its highest level since 2018. The loonie was at US$0.8144 or US$1=C$1.2279 on Monday, up from Friday’s close at US$0.8140 or US$1=C$1.2285. Meanwhile, the United States Dollar Index dropped by 0.31 at 90.97 points. Data from the IHS Markit Canada Manufacturing Purchasing Managers’ index (PMI)

Futures markets

North American grain/oilseed review: canola ends lower after choppy day

By GFM Network News May 3, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, May 3 (MarketsFarm) – The ICE Futures canola market traded to both sides of unchanged on Monday, settling with small losses after hitting fresh contract highs in overnight activity. Chart-based positioning was a feature, as a mixed tone in the Chicago soy complex did little to provide direction. Tight old

Futures markets

ICE canola posting losses at midday

By GFM Network News May 3, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, May 3 (MarketsFarm) – The ICE Futures canola market was weaker at midday Monday, retreating from overnight gains after running into resistance at new contract highs. Chicago Board of Trade soybeans also backed away from overnight gains to post losses at midsession, while soyoil was mixed. Tight old crop supplies

Global Markets: G7 foreign ministers meet in person

By GFM Network News May 3, 2021

By MarketsFarm WINNIPEG, May 3 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Foreign ministers from the G7, including Canadian Minister of Foreign Affairs Marc Garneau and Minister of International Development Karina Gould, are meeting in person for the first time in over a year in

Currency markets

Canadian Dollar and Business Outlook: Loonie stays above 81 cents U.S.

By GFM Network News May 3, 2021

WINNIPEG – The Canadian dollar stayed fairly steady on Monday morning amidst economic optimism from the Bank of Canada and news that the country’s manufacturing activity increased for the 10th straight month in April. The IHS Markit Canada Manufacturing Purchasing Managers’ index (PMI) was at 57.2 in April, its third-highest rating since the index was

Futures markets

ICE Canada Morning Comment: Canola rally continues into new week

Spillover from Chicago, Europe, Malaysia

By GFM Network News May 3, 2021

By Glen Hallick, MarketsFarm WINNIPEG, May 3 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Monday morning, as its rally continues. Spillover support was coming from strong gains in Chicago soybeans and soymeal. Additional support came from European rapeseed and Malaysian palm oil. Tight supplies continued to underpin canola values, as were dry

(Sollio Co-operative Group video screengrab via YouTube)

Hogs, Livestock, Markets

Workers call strike at Olymel hog plant in Quebec

Producers urged to prioritize heavier hogs when shipping

By Dave Bedard, GFM Network News May 1, 2021

Talks toward a new contract for unionized employees at meat packer Olymel’s hog slaughter and processing plant in Quebec’s Beauce region have ended in a strike. The Syndicat des travailleurs d’Olymel Vallee-Jonction-CSN, which represents over 1,000 staff at Vallee-Jonction, about 60 km southeast of Quebec City, called an “indefinite” strike effective Wednesday morning, the union