Beef markets take a seasonal, expected breather | Beef Market Update · Beef Market Update – RealAgriculture · Radar

Holiday-Week Cattle Trade Overview1:56 – 4:50

Shaun HaneyHost

1:56

What's happened this week? We've got kind of a weird week.

Shaun HaneyHost

1:58

Of course, we've got Canada Day, Independence Day.

Shaun HaneyHost

2:00

There's a lot of stuff happening this week, so probably pretty thin trade, I would imagine.

2:04

It is.

2:05

We did get the U.S. trade getting going last night.

2:08

They are closed tomorrow ahead of the July 4 holiday, just so people are aware of that.

2:13

For us in Western Canada, we're still looking, waiting for some trade.

2:16

Of course, closed yesterday, so looking for something hopefully today.

2:20

But let's start with that U.S.

2:21

They did get going in the South, Texas and Kansas.

2:25

$3 lower than last week at $2.55. Not a big surprise.

2:29

Two weeks ago, Sean, when we talked, we were talking about from a seasonal perspective, the markets do tend to turn over as we get into July and that dog days of summer, if you will.

2:41

The North, $2.55 to $2.56 live, and in Nebraska, $4.03 dressed.

2:47

That's also $4 to $5 lower dressed than where they were last week.

2:52

So I guess the other thing is that we June left, June live cattle expired.

2:58

So now we've got August as our nearby spot month on live cattle futures.

3:03

And when you look at those deferred and even into August and deferreds, certainly big discounts to where those cash trades are.

3:11

And we've been in that discount structure for some time now.

3:14

Very strong basis, cash well over futures, but the futures are expecting, projecting, looking at the numbers that there's more supply as we go into later this third quarter and into the end of the year.

3:29

Just on the wholesale market, before I talk about Alberta, we did see the cutout last night close at 391.25 on the choice.

3:38

That's down five from last week.

3:40

So again, all of this is kind of fitting together.

3:43

and the select is sitting back about $21.00.

3:46

In Alberta, no trade yet as we talked.

3:50

What we think we'll get going today, there's the ask, the official ask, if you will, from Canfax from the feedlot is sitting, reported by Canfax, is sitting at about $6.05 delivered.

Holiday-Week Cattle Trade Overview1:56 – 4:50

Shaun HaneyHost

1:56

What's happened this week? We've got kind of a weird week.

Shaun HaneyHost

1:58

Of course, we've got Canada Day, Independence Day.

Shaun HaneyHost

2:00

There's a lot of stuff happening this week, so probably pretty thin trade, I would imagine.

2:04

It is.

2:05

We did get the U.S. trade getting going last night.

2:08

They are closed tomorrow ahead of the July 4 holiday, just so people are aware of that.

2:13

For us in Western Canada, we're still looking, waiting for some trade.

2:16

Of course, closed yesterday, so looking for something hopefully today.

2:20

But let's start with that U.S.

2:21

They did get going in the South, Texas and Kansas.

2:25

$3 lower than last week at $2.55. Not a big surprise.

2:29

Two weeks ago, Sean, when we talked, we were talking about from a seasonal perspective, the markets do tend to turn over as we get into July and that dog days of summer, if you will.

2:41

The North, $2.55 to $2.56 live, and in Nebraska, $4.03 dressed.

2:47

That's also $4 to $5 lower dressed than where they were last week.

2:52

So I guess the other thing is that we June left, June live cattle expired.

2:58

So now we've got August as our nearby spot month on live cattle futures.

3:03

And when you look at those deferred and even into August and deferreds, certainly big discounts to where those cash trades are.

3:11

And we've been in that discount structure for some time now.

3:14

Very strong basis, cash well over futures, but the futures are expecting, projecting, looking at the numbers that there's more supply as we go into later this third quarter and into the end of the year.

3:29

Just on the wholesale market, before I talk about Alberta, we did see the cutout last night close at 391.25 on the choice.

3:38

That's down five from last week.

3:40

So again, all of this is kind of fitting together.

3:43

and the select is sitting back about $21.00.

3:46

In Alberta, no trade yet as we talked.

3:50

What we think we'll get going today, there's the ask, the official ask, if you will, from Canfax from the feedlot is sitting, reported by Canfax, is sitting at about $6.05 delivered.