Photo: Canada Beef Inc.

Feed grain outlook for the 2024-25 crop year

Market Talk with Jerry Klassen

Barley and corn prices have been trading near five-year lows throughout the spring and summer. Despite the year-over-year decline in Canadian barley and U.S. corn acres, optimal weather has resulted in trend yield projections on both sides of the border. Production will be down from year-ago levels for both barley and U.S. corn crops; however, […] Read more

Weakness in equity markets pulls cattle markets lower

Weakness in equity markets pulls cattle markets lower

Market Talk with Jerry Klassen

Live and feeder cattle futures dropped sharply in early August.  While the supply fundamentals for the cattle market hadn’t changed, the cattle futures started to incorporate a risk discount due to the uncertainty in demand. Consumer confidence appears to be decreasing and job growth has slowed. Restaurant spending made seasonal highs in June and recent […] Read more


Beef carcasses in a freezer. Beef supplies in the fourth quarter of 2024 are forecast to be down from the third quarter.

U.S. beef supplies tell a story

Market Talk with Jerry Klassen

Canadian and U.S. fed cattle markets have been trading near or at historical highs during the summer. I’ve received many calls from cattle producers inquiring about the fed cattle outlook for the fall of 2024. Everyone remembers that during the fall of 2023, the live cattle futures dropped about $30 from September through mid-November. While […] Read more

Factors influencing the feeder cattle market

Factors influencing the feeder cattle market

Market Talk with Jerry Klassen

I’ve received many inquiries over the past couple of months about the price outlook for feeder cattle. Many analysts focus on feeder supplies and use this to determine their view or perspective of the market; however, we all know there are additional factors that affect price direction. Corn and barley prices, exchange rates, feeding margins […] Read more


Feed barley outlook for 2024-25

Feed barley outlook for 2024-25

Market Talk with Jerry Klassen

Western Canadian barley prices have been grinding lower throughout the winter due to a lack of export demand and larger imports of U.S. corn. However, in late March, domestic prices in the non-major feeding regions of Western Canada were competitive with world values. This caused offshore movement to increase and stabilized the downward slide. It […] Read more

U.S. beef demand coming in stronger than anticipated

U.S. beef demand coming in stronger than anticipated

Market Talk with Jerry Klassen

Beef demand appears to be stronger than expected in the first quarter of 2024. There is a higher probability that the economic momentum will continue into the second and third quarters before softening late in the October through December period. Consumer spending at U.S. grocery stores and restaurants was higher than expected during January. In […] Read more


The constellation of prices is when the deferred live cattle futures behave and move in tandem with the nearby contract.

Constellation of cattle futures prices and futures markets spreads

Market Talk with Jerry Klassen

The live and feeder cattle futures markets experienced sharp downward price behaviour during the final quarter of 2024. Although the price weakness was being influenced by the nearby fundamentals, the deferred live and feeder cattle contracts were also trending lower. In this article, I’m going to discuss market behaviour referred to as the “constellation of […] Read more

Feed grain prices poised to strengthen

Feed grain prices poised to strengthen

Market Talk with Jerry Klassen

During the first week of January, Lethbridge area feedlots were buying feed barley in the range of $310-$320/tonne delivered. In central Alberta, operations were making purchases from $270/tonne to $310/tonne. The feed barley market came under pressure in December after the release of Statistics Canada’s November crop survey. Weaker corn prices have also contributed to […] Read more


Fed cattle supplies are not tight

Fed cattle supplies are not tight

Market Talk with Jerry Klassen

The April 2024 live cattle futures reached a contract high of $199.82/cwt on September 15. Since then, the cash and futures markets have been grinding lower and at the time of writing this article, the April live cattle contract was at $175.50/cwt. I’ve received many calls from feedlot operators inquiring about market direction for the […] Read more

Photo: Canada Beef Inc.

Cattle prices turning lower

Market Talk with Jerry Klassen

I’ve been overwhelmed with calls over the past week as the recent issue of Canadian Cattlemen reached dinner tables and coffee shops. In the October issue, I hinted that the cattle market was turning over and would likely trend lower in the latter half of 2024. I always judge how successful my articles are by […] Read more