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Western Canadian feeder cattle traded steady to $2 higher, and Alberta fed cattle sold at $353-357/cwt dressed. Feedlots are buying lighter calves expecting significant downside in new-crop barley prices as Canadian barley acreage is expected to rise.
Expected larger new-crop barley supplies and an inverse old-to-new crop spread push barley prices lower, which encourages feedlot demand for lighter cattle.
canadiancattlemen.caJerry Klassen, GFM Network NewsMar 28, 2023Not 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.
