Beef Market Update: The dog days of summer

(Kara Oosterhuis/RealAgriculture)

We’re into the dog days of summer, and the cattle markets are certainly reflecting that.

Add in the July 1st holiday in Canada, and July 4th in the U.S., and we’ve got a slow start to the markets this week, says Anne Wasko of the Gateway Livestock Exchange.

However, that doesn’t mean we don’t have things to talk about!

What’s going on with live cattle exports and imports? What about feeder cattle prices? Barley versus corn on new crop? These questions and more are answered in this week’s edition of the Beef Market Update.

Check it out below, or read on for a short summary:

SUMMARY:

  • Market was steady this week for the short holiday week
  • Packers are now of course buying into a full slaughter week for next week, that helps keep the market steady
  • In the south we were $178 mostly
  • In the north and northern feeding regions, the range was $179-$184
  • We’re seeing that choice cut out lose some more ground
  • It closed last night just under $320 USD
  • Here in Western Canada the local fed cattle market on a draft basis is about $3 lower than last week
  • There’s still some cleanup trade to happen
  • The market basically was going straight up for 26 weeks here in 2023 in Alberta, to to have a little breather here this summer is expected
  • We’ve now got fat cattle in Western Canada trading at a premium to the U.S.
  • Now we’ve caught up to where we should be trading

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