MarketsFarm – Manitoba cattle markets observed characteristically light volumes during week ended July 26, due in part to improving pasture conditions.
“There hasn’t been any panic-selling in the western and southern parts of the province,” agreed Rick Wright of Heartland Order Buying Co.
Wright mentioned the Northeast region of the province is drier than most, so some cattle are expected to move from that area.
While prices for cattle remained steady with low volumes and muted demand, demand was concentrated for yearling cattle.
“The market there is quite aggressive compared to two weeks ago,” Wright commented.
“We expect the yearling market off grass will show a little bit more strength.”
Wright explained that buyers who are looking for yearlings have stepped up and become “quite aggressive,” partially because improving crop conditions mean feed prices won’t be as high as initially expected.
“Are we as good as we were at the start of spring? No, but we are considerably better than we were three or four weeks ago.”
Wright noted that space opening up in Alberta feedlots will be a key factor in influencing buyers’ decisions.
“That’s been a crucial thing in Alberta, getting pen space available. As pens open up these guys want to buy.”