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Western Canadian yearling steers traded $4 to $8 lower and heifers $2 to $4 lower week on week, while calves fell $5 to $10. Feed barley in the Lethbridge area rose $25 to $30/tonne to $390 to $415 as crop ratings deteriorated amid drought.
Feedlots cut bids to protect margins.
Higher barley costs squeeze feedlot margins and reduce bids for feeder cattle, so feeder prices come under pressure while feed grain prices rise.
agcanada.comAGCanadaJul 27, 2021Not enough comparable past events yet for a historical read.
After 29 past bearish weather events, FCATTLE moved a median +0.5% over 5 sessions (62% higher; middle half -0.5% to +2.6%), and +2.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
