Cattle Backlog Impacting Market

The backlog of cattle in Western Canada is gradually depleting.

 

Brian Perillat is Manager and Senor Analyst with Canfax.

 

"As good as the processing rates have been, I guess we're still seeing a bit of a backlog impact the market," he said. "The fed cattle market has been completely flat...Typically this time of year we start to see a little bit of price improvement but two or three weeks ago we had record large carcass weights. There's a lot of big steers and heifers out there that have to get processed and that's kind of weighing on the market."

 

Perillat notes calf markets have been struggling as of late.

Video: USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension

USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.