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Hot, dry weather across the Canadian Prairies has strained pastures and cut hay production just as farmers normally stockpile winter feed, pushing feed costs up. Ranchers are considering selling cattle early, and analysts expect the drought to keep beef prices high for two to three years as herds rebuild.
Drought-driven feed shortages and early herd liquidation tighten cattle supply and lift feed costs for Canadian feeders, supporting higher feed grain and cattle prices.
cbc.caTony SeskusAug 13, 2021After 80 past bullish weather events, Live Cattle moved a median +0.1% over 5 sessions (54% higher; middle half -0.8% to +1.3%), and +0.7% over 20.
After 79 past bullish weather events, Feeder Cattle moved a median +0.1% over 5 sessions (53% higher; middle half -1.4% to +1.7%), and +1.4% over 20.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 55 past neutral weather events, Soybean Meal moved a median -0.1% over 5 sessions (47% higher; middle half -1.7% to +1.5%), and +0.1% 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.
