. Agri-news. Agriculture. CO CO CO CO CO CO CO Gfi October 11,1993 Steady calf prices after initial volume drop Increasing volumes are expected to pressure calf prices in October, but prices are expected to hold steady after the initial fall says an Alberta Agriculture market analyst. "An initial decline of between five and 10 cents on 500 to 600 pound steers is expected," says Ron Gietz. "After that, calf prices should be steady through the late fall. "But, keep in mind buyers will probably be pickier on the tail end of the calf run," he adds. The calf run started str
. Agri-news. Agriculture. CO CO CO CO CO CO CO Gfi October 11,1993 Steady calf prices after initial volume drop Increasing volumes are expected to pressure calf prices in October, but prices are expected to hold steady after the initial fall says an Alberta Agriculture market analyst. "An initial decline of between five and 10 cents on 500 to 600 pound steers is expected," says Ron Gietz. "After that, calf prices should be steady through the late fall. "But, keep in mind buyers will probably be pickier on the tail end of the calf run," he adds. The calf run started strongly in late September. Prices were high, sometimes at record levels. Many producers attempted to cash-in on the high prices he notes. In the feeder cattle market, cheap grain has been an important factor. Both silage and feedgrain supplies are ample. "Combined with low interest rates, finishing cattle on the Prairies is at a very reasonable cost," says Gietz. He adds though, further increases in feeder cattle prices seem unlikely. "Bear in mind, I said the same thing this spring, but prices increased. Be aware too, the end of the national tripartite stabilization program could be a factor in fourth quarter ; The exchange rate will continue to be a factor in both feeder and fed cattle prices. "The key variable in the Western Canadian slaughter cattle outlook is the exchange rate," he says. At the start of the federal election campaign the exchange rate was extremely volatile, although mostly around the 76 cent level. Future exchange rates are impossible to predict Gietz adds. However, he bases his forecasts for average slaughter cattle prices on a strengthening dollar from November on. His six-month look ahead is for Alberta direct sale steers at S88/cwt. through October, up to S89/cwt. in November, falling back to $88 in December and inching to the $89/cwt. mark to start 1994. Gietz predicts February and March average pri
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