Loading…
Western Canadian yearling prices were steady to $2 lower in the week ending mid-November 2021, and calves traded $2-4 lower. A major snowstorm in Saskatchewan and Manitoba led buyers to apply a weather risk discount, and feedlots expect barley to be hard to find over the winter while imported corn prices keep rising.
Tighter barley supply and higher imported corn prices raise feed grain costs for Canadian feedlots, squeezing margins and pressuring feeder demand.
agcanada.comAGCanadaNov 16, 2021Not enough comparable past events yet for a historical read.
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 29 past bearish weather events, Feeder Cattle moved a median +0.5% over 5 sessions (62% higher; middle half -0.5% to +2.6%), and +2.4% 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.
