
USDA's November WASDE raised first-quarter 2024 beef production by 235 million pounds and second-quarter output by 160 million. Alberta fed cattle prices averaged $385/cwt dressed in November, down $5, with live prices at the lowest since May.
Canada is in technical recession, and the author expects weaker demand in 2024.
Higher beef supply forecasts and weakening consumer demand pressure fed cattle prices, which deepens negative feeding margins and reduces feeder demand for feed grains. Potential spring corn and barley acreage declines could support feed grains later.
在过去 144 次看跌的报告事件之后,活牛 在 5 个交易日内中位数变动 -0.1%(49% 上涨;中间一半区间为 -1.1% 至 +0.9%),20 个交易日内为 +0.5%。
在过去 126 次看跌的报告事件之后,架子牛 在 5 个交易日内中位数变动 +0.1%(52% 上涨;中间一半区间为 -1.3% 至 +2.0%),20 个交易日内为 +0.6%。
在过去 1,040 次看涨的报告事件之后,玉米 在 5 个交易日内中位数变动 +0.5%(62% 上涨;中间一半区间为 -0.9% 至 +2.0%),20 个交易日内为 +0.8%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件;仅描述已发生的情况,不代表未来走势。不构成投资建议。
USDA raising Q1/Q2 2024 beef production forecasts adds expected supply, bearish for futures, with weak Canadian demand outlook adding to sentiment.