Alberta direct cattle sales so far this week have seen light trade develop with dressed sales steady to a couple dollars higher than the previous week. Cash to futures basis levels did weaken but still remain stronger than the 5 year average. All reported cash sales traded locally. Cattle that were bought this week were being scheduled for the middle of August delivery.
US Trade
In the US, likely regional deals but a couple hundred head of cattle traded in Iowa and Nebraska yesterday with dressed sales reported from 185.00-186.00, steady with the previous week. This light test of the market does not establish a market trend. There have been reports of packers scaling back hours which could moderate interest in the cash market.
Canadian Dollar
The nearby Canadian dollar at 8:30 this morning was trading at 76.37, up 0.38.
Source : Alberta Beef Producers