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Cattle Markets Volatile As Of Late

A market analyst with Canfax says the cattle markets have been pretty volatile over the last few weeks.
Brian Perillat notes markets have been trying to anticipate some large cattle numbers on the fed cattle side, noting fed cattle prices in the U.S. and Canada have been seeing some big declines.
He talked about what the effect the dry weather has been having.
"The feeder market has been a little bit on the defensive as of late, obviously with the pullback in the fed cattle supplies. Feedlots were making money for the most part but some of these prices are at losses. There's a bunch of things weighing in on the feeder cattle market. Weather and feed costs are certainly a part of that. So far, I'm not sure weather has been a big issue yet, but we're certainly watching it as guys are definitely going to need some moisture for grass and then get the feed grain grown and started."
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