Ontario’s beef producer group has asked both beef and dairy producers to hold back cull cows in an attempt to ease the pinch on beef processing capacity during the COVID-19 pandemic. Processing backlogs have plagued the eastern Canadian beef sector for many months due to a lack of sufficient processing capacity and plant closures, says… Read More
Category: Markets
We’ve focused a lot lately on what is going on in the protein sector, which hasn’t have a lot of positives as of late. But on the crop side of the fence — oilseeds, coarse grains, pulses — overall, the markets for many crops grown in Western Canada have not been hit as hard by… Read More
Grain markets ended the Easter-shortened trading week with some heavy data and policy dumps, notably from the USDA and OPEC. On Thursday, April 9th, we got the USDA’s monthly WASDE report, although these estimates were largely discounted even going into the report given the ongoing COVID-19 related demand fluctuations. For the most part though, grain… Read More
The dairy world has been turned upside down seemingly overnight. Whether it’s north or south of the Canada/U.S border, dairy farmers have to dump milk as the entire value chain adjusts to the disappearance of restaurant and foodservice dairy demand and a spike in retail demand. Michael Dykes, CEO of the International Dairy and Food… Read More
The fourteen day closure of an Olymel hog plant in Quebec has Ontario pork producers scrambling to find a slaughter destination for their finished hogs. Ontario producers normally ship around 20,000 pigs to Quebec for processing each week. The plant at Yamachiche, Que. and its 1000 employees have not been operating since March 29 after… Read More
Grain markets closed mostly lower to start April off, as the highs seen last week gave way to some profit-taking and farmer selling. We saw said selling firsthand on the Combyne cash grain marketplace as buyers were able to take advantage of the weaker Canadian Loonie and shore up some coverage before fertilizer deliveries make… Read More
Olymel has notified pork producers in Ontario who ship to its processing plants in Quebec that it intends to exercise the force majeure clause due to the COVID-19 pandemic, according to industry sources. By invoking the clause, the company would no longer be required to purchase market hogs under the terms of the contracts it… Read More
The reduction in gasoline usage across North America has put a death grip on ethanol producers. Plants have been scaling back production to try and stay solvent as storage capacity fills. Aside from the impact less ethanol production has on corn and utility wheat demand, livestock producers that use distillers’ dried grains (DDGs) in feed… Read More
No one can predict how long the COVID-19 pandemic will last, but a huge focus on social and physical distancing has been effective, at least in part, to “flattening the curve” of infection and critical illness. Tracking on an inverse curve is the local and global economy. Right now uncertainty, social distancing, and shuttered businesses… Read More
Many industries are struggling to cope with COVID-19, but in agriculture farmers still have to plant. Today (March 31, 2020) the United States Department of Agriculture (USDA) released its 2020 planting intentions report. Canadian farmers are watching this report very closely as the U.S. corn and soybean acreage — and possible carryout — impacts Canadian… Read More