In the event you’re a cattle feeder that’s been following the worth of the Canadian dollar, you’ll realize it’s not shifting in the best path for folks within the export market.
Mix that with rising feed costs, and the value of feeder cattle, the enter costs for the feeder are not headed towards greater profitability.
Lethbridge barley hit a document excessive this week, notes Anne Wasko, of the Gateway Livestock Trade, on this week’s Beef Market Replace.
“Looking at what the previous records were — 2019 and 2013 both just flirted with that $300/tonne price for barley, and we’re above that today (April 30),” Wasko says. “The Canadian dollar has closed up over 81 cents a couple times this week now, and looking at feeder cattle prices, they are actually pretty solid.”
As effectively, the demand for grass is staying very sturdy too, in accordance to Wasko.
“Grass cattle is trading well above where they would’ve been in 2019. Somebody has got moisture — it’s not here in southwestern Saskatchewan — but the demand on this grass market continues to be very strong. And even the backgrounded yearling cattle market prices are pretty close to where they were in 2019,” she explains. “So yeah, the cattle feeder has got a bit of a challenge in terms of how they make this all work.”
Need to hear extra? Try our Beef Market Replace podcast with host Shaun Haney and Anne Wasko, each two weeks!