CanFax has developed the first domestic cattle market smart phone application built specifically for Canadian cattle market information.
"There's lots of market apps that show futures information, but nothing that gives you Canadian specific prices," says CanFax manager and senior analyst Brian Perillat. "This uses futures prices for cattle and the Canadian dollar, but then takes in a whole bunch of CanFax benchmarks around basis levels and cost of production, etc., that produces a truly Canadian price."
CanFax, the market analysis division of the Canadian Cattlemen's Association, first conceived the concept of the app two years ago, but it took about a year for the app to be created and launched, according to Perillat, who worked on the project.
"With technology changing so much, it's something we had to do to keep up with the times and update our service model at CanFax," Perillat says.
After a recent soft launch, CanFax is preparing to push its CFX Pro cattle market app, but it's already heard good reviews about the app's functions. One popular feature is cattle price insurance information.
"[Users] can see what today's price insurance coverage is on calves or feeders or whatever they're looking to be selling in the future," Perillat says.
The app also provides breakeven calculators, price projections, as well as standard market information for Canadian cattle producers. The app's calculations can aid farmers in their short- and long-term buying and selling strategies.
The app is free, thanks to foundation partners Alberta Livestock and Meat Agency, Saskatchewan Beef Industry Development Fund and Feeder Associations of Alberta -- which got the project off the ground and provided the funding to develop the app -- and sponsorship from animal health company Zoetis.
The app is available for download at the iTunes store or Blackberry.
Source: FCC