Beef demand remains strong in the spring market.
We got a cattle market update from Brian Perillat, Manager/Senior Analyst at Canfax.
"We're into the spring market, we've seen really good beef demand and a lot of product moving but maybe a little bit sluggish on the cattle markets especially on the fed cattle side. Prices not much different than they were in February, around that $150 per hundredweight. A little bit disappointing. Feedlots continue to lose money at that, despite beef prices very, very strong. Still anticipating hopefully some market strength moving forward. Numbers should tighten, we think, into May/June, and that should support the fed cattle market."
Perillat notes demand has been good for calf prices.
"Feeder cattle and calves, we've seen pretty good demand for calf prices. Calf prices have been actually the least impacted by COVID through all of this and still good demand for grass cattle. The big thing overarching all of that across western Canada right now though is moisture conditions. It is quite dry in a lot of areas and guys may be concerned about grass that way."