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Jerry Klassen writes that Q1 feeder cattle placements fell year over year in both Canada and the US, which should tighten market-ready supplies in summer. Alberta fed cattle were quoted around $378-$380 per cwt dressed in March, and Western Canadian feeder prices are climbing.
US cattle on feed as of February 1 were 11.797 million head, up about 1%.
Tighter summer supplies and a stronger fed cattle outlook support cattle prices and buying interest for feeder animals, which lifts feed demand.
grainews.caJerry KlassenApr 17, 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.
