Beef plants in Western Canada are back to pre-COVID levels.
Canfax Market Analyst Brian Perillat gave a cattle market update this week.
"We've got both the Canadian dollar and feed grains extremely high," he said. "Despite that feeder markets are holding in there. We're starting to see a little more volumes of backgrounded cattle come to market and somewhat surprising how well that market is holding together. Feedlots seeing red ink and have seen it for months. They continue to pay up for feeder cattle where prices there...are slightly above a year ago. Certainly some optimism priced into this market."
Perillat says Western Canada has the strongest fed cattle market in North American again which is not that seasonal, especially in February, to see $5-$7 dollars a hundredweight above the U.S. He notes the market has improved somewhat, where are prices are close to where they were a year ago.