If you happen to’ve been following the cattle markets, you’ll know that this week, the Alberta fed cattle market misplaced some floor.
This sort of behaviour isn’t exceptionally unusual for a July cattle market, says Anne Wasko, of the Gateway Livestock Change, within the newest episode of the Beef Market Replace. Nonetheless, the market misplaced one other $3, dropping the reside costs down across the $154-$155/cwt mark.
“This is quite a ways off from where we were, even two to three weeks ago, because the market was off last week as well,” says Wasko. “Ontario markets are staying pretty steady so far, mostly at $270 delivered, with a few up to $273.”
Foundation levels are one thing that cattle producers have saved a detailed eye on in 2021, and for the primary half of the 12 months, we now have seen fairly sturdy spreads.
Beforehand, the premise levels have been favouring the Alberta market, nonetheless, as Wasko factors out, there have been some important adjustments as of late, as each Alberta and the U.S. are sitting at par.
“It’s a big change when you’re talking about dollars per head,” says Wasko.
commerce, Statistics Canada launched Might 2021 commerce knowledge, and beef exports have been stable — up 53 per cent from final 12 months.
“Might of 2020 was a COVID-19 month, so there was definitely disruption, however even evaluating this Might to Might of 2019, they’re nonetheless up 19 per cent. Additionally, in case you are preserving observe — these are huge numbers now — this matches the earlier document set in Might of 2002, simply earlier than BSE. We’re again to these levels once more. Sure, it’s taken virtually twenty years to do it, however these numbers are stable numbers, says Wasko.
In fact, that’s taking a look at one month, notes Wasko, however the year-to-date numbers look optimistic as properly.
“Year-to-date 2021 beef exports for Canada are up 29 per cent in volume, and 25 per cent in value increase. That’s great data there,” she says.
The query, in fact is the place is all of this beef going? It’s no shock the U.S. is our largest export market. Nonetheless, coming in second for exports up to now is Japan, adopted by the China and Hong Kong market, says Wasko.
Pay attention on to listen to extra on the place the cattle markets are with Anne Wasko and visitor host Lyndsey Smith: