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Alberta packers were buying fed cattle at C$261 per cwt in early June, up C$4 from a month earlier, and Western Canadian feeder prices are near historical highs. Fed cattle exports to the US have exceeded year-ago levels, and US heifer retention is not large enough to support herd expansion, so a 2024 and 2025 calf crop decline is expected.
Tight cattle supplies and a shrinking calf crop support cattle prices, while packers face the risk of higher input costs.
grainews.caJerry KlassenJul 9, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
