Market Summary
Slaughter cows and bulls inching higher, up $3-4. Feeder market is on fire, up $10-15. A few calves being offered for fall delivery lately, with 750 lb steers worth about $3650 per head and 550 -600 lb steers around $3200 per head. Pairs trading $6000-7500. This seems high, but is actually well within historical guidelines of 1.5-2 times steer price. As strange is it sounds, the breds and pairs are probably the most fundamentally sound inventory in the cattle business right now! I just wanted to make one comment regarding the cattle market and what was projected when all the tariff and trade war drama started. At that time it was generally accepted that if the US put tariffs on imports the net effect of that would be an increase in the value of the US dollar and a corresponding decrease in the value of the CDN dollar. In fact, the opposite has happened. The USD has decreased in value by close to 10% and the CDN has increased in value by 8-9%. To put that in perspective that decreases the value of a fat steer in Canada by close to $300. So what happened? Basically what has happened is the world financial community is losing faith in the US as a safe investment for money. Also, the Trump administration continues to run record deficits which is alarming international investors. The financial community also respects and rewards trust and competency and it is increasing obvious that the current US administration is delivering chaos and incompetency and financial irresponsibility. So, in the end our projections for the high in the cattle market will have to be adjusted for the increased value of the CDN $. Don’t get me wrong, this is still the best bull market of my lifetime and the highs are still ahead of us. But we may be closer to the high than we thought few months ago. Also, because of the lack of heifer retention this cycle will last longer than the previous ones. Best business in the world right now. Have a good week. Ian
Market News
June 5 Cow/Calf Pair Sale
JUNE 6 CONSIGNMENT SALE LISTINGS
Our Consignment Sale for June 6 is filling up! We are no longer accepting small pallet items but will gladly accept larger equipment. Don't worry if you have already booked in your pallets, we will still take them. Remember last day to bring in items is June 3.
GIVE THE OFFICE A CALL OR EMAIL US WITH THE VACCINATION PROGRAM ON YOUR CALVES.
When bringing in cattle please fill out manifests for Feeder cattle separate from Cows/Bulls.
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