Markets battle to get by means of “stubbornly heavy” carcasses

 

It’s spooky season, and Anne Wasko of the Gateway Livestock Exchange is prepared together with her witch’s hat (to be worn with the grandkids, after all).

As we method Halloween, it’s no shock for the west of the nation to expertise snow (in any case, what can be Halloween in Canada with out snowsuits beneath costumes), and Wasko’s neck of the woods — southwestern Saskatchewan — acquired some a lot wanted moisture.

All that and extra, on this week’s episode of the Beef Market Update.

Check out the total abstract for what we learnt within the U.S. this week, what occurred in Canada on fed cattle costs, the place we’re sitting on calf costs, and extra, under:

SUMMARY:

  • U.S. markets are nonetheless very strong and robust once more this week, which is a few nice information popping out of the U.S. within the quick time period
  • Texas and Kansas have been up one other $2 to $150
  • In the Nebraska: area $151-$153 reside and $238 to $240 dressed
  • The alternative minimize out is $9 larger than per week in the past — $16.50 larger than a month in the past
  • Mid-to-late October, the U.S. vacation season actually kicks into gear
  • Middle meats and particularly the rib are a key characteristic merchandise by means of U.S. Thanksgiving, and the Christmas/New Year vacation season
  • We ought to proceed to see some strong peaks headed into November
  • In fed cattle, Alberta markets nonetheless traded at $302 delivered
  • The native Alberta fed market continues to be in all probability one of the vital disappointing when it comes to the connection to the U.S. worth
  • Markets are actually struggling to get out from these heavy carcasses
  • Stubbornly heavy is the phrase Wasko would use — 972 kilos once more final week on steer carcass weight, which is 21 kilos over final yr and 38 kilos over the five-year common
  • It all the time takes longer to scrub up the provision than you need to assume or imagine
  • It’s been a busy October for certain within the fall cattle run
  • Using 550 weight steer calves in Alberta as a barometer, costs are 25 per cent larger than a yr in the past
  • Auction market volumes are all working above the five-year common by means of October
  • Looking at historical past, fall run peaks often in late October (i.e., now) or the very starting of November
  • The October one quantity for cattle on feed was launched final week for the U.S.
  • The report out of the U.S. final week is identical pattern form of occurring within the U.S. in comparison with what we’ve seen in Canadian knowledge when it comes to placement patterns
  • Bottom line, extra heifers are making their manner on feed largely because of the drought within the U.S.
  • Numbers popping out of the U.S. drought monitor yesterday — 60 per cent of the U.S., is in drought and 80 per cent is what they name abnormally dry situations
  • That hasn’t been seen for this time of the yr for the reason that drought monitor began 22 years in the past
  • Cattle on feed numbers are staying a bit extra inflated than what we might have initially thought, with extra heifers bumping these numbers