. Agri-news. Agriculture. Phone: (403) 427-2121. GOGOGOGOGOGOGOGO April 11,1994 Dollar down, livestock prices up One of the biggest challenges in forecasting livestock prices is keeping up-to-date with the latest movement of the exchange rate says an Alberta Agriculture market analyst. "With a two-year down trend still in full swing, further revisions to prices because of a dropping dollar are likely," says Ron Gietz of the market analysis and statistics branch. "Myself, I've had to revise forecasts based on 76 cent and 75 cent Canadian dollars and go to a 73 cent do
. Agri-news. Agriculture. Phone: (403) 427-2121. GOGOGOGOGOGOGOGO April 11,1994 Dollar down, livestock prices up One of the biggest challenges in forecasting livestock prices is keeping up-to-date with the latest movement of the exchange rate says an Alberta Agriculture market analyst. "With a two-year down trend still in full swing, further revisions to prices because of a dropping dollar are likely," says Ron Gietz of the market analysis and statistics branch. "Myself, I've had to revise forecasts based on 76 cent and 75 cent Canadian dollars and go to a 73 cent dollar," he adds. Alberta cattle, hog and lamb producers have all benefitted from the dropping Canadian dollar relative to its counterpart. The current outlook for Canadian slaughter hogs is positive, given the downward-dollar trend. Feeder cattle prices are drawing strength from the same downward trend. With the lower dollar, lamb prices didn't slump when prices dropped south of the border. "However," says Gietz, 'There's no guarantee the Canadian dollar will keep falling throughout 1994. Nor, does anyone know just how far it might fall. "What is known is that our dollar is approaching the bottom end of its historical trading range against the dollar. As unlikely as an increase in the Canadian dollar might seem right now, the possibility of a higher dollar later this year can't be ruled ; In specific markets, Gietz says there's nothing in the market to suggest a feeder cattle price decline. However, the exchange rate is the most important factor to watch. "Based on current information, $110 per hundredweight seems a reasonable starting point as a heavy feeder steer price forecast for ; On the slaughter cattle side, Gietz forecasts Alberta direct sale steer (ADS) prices to average $95 through April, falling off by a dollar through to July and an August average of $90. Canadian slaughter hog prices are expected to stay positi
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Keywords: ., bookcentury1900, bookleafnumber83, booksubjectagriculture, jandec
