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Canadian market columnist Jerry Klassen reports that Alberta fed cattle traded at $134 to $136 per cwt in late October, while US Southern Plains cash cattle were near US$108. Feedlot backlogs remain in western Canada, and beef demand weakened as COVID cases rose and restaurants reversed reopening.
Barley prices rallied about $50/mt from harvest lows on stronger Chinese demand.
Softer beef demand is pressuring cattle values, while firmer Canadian barley exports to China support feed grain prices.
grainews.caJerry KlassenNov 5, 2020Not 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.
