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Alberta fed cattle were bought at $229-230/cwt in April, with feeding margins turning positive for the first time in nearly three years. Feed barley holds at C$415-425/tonne in southern Alberta.
Canadian barley export demand for 2023/24 is expected to fall sharply as acreage rises.
Positive feeding margins support feeder cattle demand, while expected larger barley supplies and weaker export demand point to lower barley prices.
grainews.caJerry KlassenJun 3, 2023Not enough comparable past events yet for a historical read.
After 47 past bullish trade events, Feeder Cattle moved a median +0.2% over 5 sessions (53% higher; middle half -1.0% to +1.0%), and +1.5% over 20.
After 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), and +0.5% 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.
