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Western Canadian feeder cattle prices were unchanged to $2 higher on average, with feeder markets diverging from the fed cattle complex. Alberta packers were buying fed cattle at $141 to $142 while breakeven pen values were near $158.
Lower supplies and favourable rains renewed buying interest for cattle that can be grazed.
Tight feeder supplies and negative feeding margins keep cattle prices firm while weighing on feedlot demand for grain and protein. Buyers should watch the gap between fed cattle prices and breakevens as a signal for placement pace.
grainews.caJerry Klassen, GFM Network NewsJun 4, 2018Not 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.
