Okay, so looking forward, what are we, what are we watching out for now? What, what should we be following and paying attention to on this topic between now and the end of the year?

Yeah.

So first is plant utilization.

Um, so as we have seen these closures, and we're now looking at packing capacity being much closer to current supplies, um, it's the question of, are we back to a point where these packing plants have the efficiencies, what are their margins looking like, um, and is this then the end of these closures and announcements, or are we gonna continue to see, um, challenges on that front? Second will be live cattle exports.

Um, as we think about Canadian fed cattle numbers, we have, um, a lot of cattle that have been on feed for more than a hundred and twenty days.

We've got larger, um, upfront supplies.

And so how aggressive are US plants bidding on Canadian cattle, and are we actually moving those cattle south? Um, and what's our utilization in our own domestic plants? And then third, and I think this is the key one with this announcement, is leverage shift from the feedlot to the packer.

Yeah.

Okay, so looking forward, what are we, what are we watching out for now? What, what should we be following and paying attention to on this topic between now and the end of the year?

Yeah.

So first is plant utilization.

Um, so as we have seen these closures and we're now looking at packing capacity being much closer to current supplies, um, it's the question of, are we back to a point where these packing plants have the efficiencies? What are their margins looking like? Um, and is this then the end of these closures and announcements, or are we gonna continue to see, um, challenges on that front? Second will be live cattle exports.

Um, as we think about Canadian fed cattle numbers, we have, um, a lot of cattle that have been on feed for more than a hundred and twenty days.

We've got larger, um, upfront supplies.

And so how aggressive are US plants bidding on Canadian cattle, and are we actually moving those cattle south? Um, and what's our utilization in our own domestic plants? And then third, and I think this is the key one with this announcement, is leverage shift from the feedlot to the packer.

Yeah.

Okay, so looking forward, what are we, what are we watching out for now? What, what should we be following and paying attention to on this topic between now and the end of the year?

Yeah.

So first is plant utilization.

Um, so as we have seen these closures and we're now looking at packing capacity being much closer to current supplies, um, it's the question of, are we back to a point where these packing plants have the efficiencies? What are their margins looking like? Um, and is this then the end of these closures and announcements, or are we gonna continue to see, um, challenges on that front? Second will be live cattle exports.

Um, as we think about Canadian fed cattle numbers, we have, um, a lot of cattle that have been on feed for more than a hundred and twenty days.

We've got larger, um, upfront supplies.

And so how aggressive are US plants bidding on Canadian cattle, and are we actually moving those cattle south? Um, and what's our utilization in our own domestic plants? And then third, and I think this is the key one with this announcement, is leverage shift from the feedlot to the packer.

Yeah.

Get after it here for episode 132 of the What the Futures podcast.

The Canadian drought monitor is significantly improved across the board.

Matt Makins, who does our quarterly weather outlook that got published earlier this week, is looking at more normal summer moisture for Saskatchewan, Alberta, and southern Ontario.

We still have dry spots in BC, Manitoba, and northern Ontario, but it is significantly improved from the outlook six months ago.

The real question is the US.

The US still has a lot of red on that map.

What has improved has been the Corn Belt area and the forecast with the move to El Nino is the fact that the southern half of the US is supposed to get rain at some point between now and September.

Why did China want to diversify sources of beef? And two, in the back half of 26, do we have to be worried about Brazil dumping a bunch of meat onto the market?