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Canadian analyst Jerry Klassen says prairie steers were trading at $163 to $165 and 950-pound feeders at $168 to $172, down $10 to $15 since February. Barley stocks are heading to historically low levels, and imported corn prices have risen on Argentina's drought and a weaker Canadian dollar.
Feedlot margins look negative from May through August based on current live cattle futures.
Tighter barley and corn supplies raise feed costs for finishing operations, while negative projected feedlot margins point to weaker demand for feeder cattle later in the year.
canadiancattlemen.caJerry KlassenApr 13, 2018Not enough comparable past events yet for a historical read.
Not 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.
