Canada: Feeder cattle market continues on downward trend

Compared to last week, Western Canadian yearling markets dropped $2 to $4 whiles calf prices sank $2 to as much as $6 on average. Rising feed grain prices set a negative tone. Adverse weather also contributed to lower bids, especially in the lighter weight categories. Most auction barns had feature calf sales this past week. Larger volumes caused feedlot operators to have scale down orders in place. There was no need to chase the market as buyers sat back and waited for the market to come to them. The quality was quite variable and buyers noted fleshier conditions this past week. Small groups of secondary calves appeared to drag the overall complex lower. Demand from backgrounding operators is lower than past years. There is no risk tolerance and if buyers can’t lock in a profit, they’re not sticking their neck out. In Manitoba, a small group of larger frame medium to lower flesh Limousin blended steers weighing 905 pounds were valued at $184; In Central Saskatchewan, larger frame ...