The cattle markets have been under pressure recently.
That according to Brian Perillat, manager and senior analyst with CanFax.
He notes the struggles in the hog markets, are also impacting the beef markets.
"They're definitely inter-related, just on the fact that red meat supplies are certainly growing and as pork really cheapens up, which it has, hog prices have come under pressure and cheaper pork at the retail counter certainly competes with beef and it adds a bit of a pressure that weighs on the beef side. Both beef and pork exports have been strong but pork maybe not as much, meaning more meat in North America needing to be consumed, which weighs a bit on the cattle markets as well."
Perillat notes the rising Canadian dollar has also put pressure on the cattle markets.
Source : Steinbachonline