Cattle prices drop by nearly half from last year

The low price of cattle continues to take a toll on Alberta ranchers. Just last week, Western Feedlots, one of Canada’a largest cattle feeders, announced it was closing up shop. At Balog Auctions annual video livestock sale, 6,600 calves went through the ring. Buyers and sellers were keeping an eye on the price, watching just how far it’s fallen from last year. “In a four-year time period we’ve seen prices double for cattle. Unfortunately since the middle of June we have now seen prices drop off quite dramatically, so calf prices, most cattle prices, drop 35 to 40 per cent in the last year,” Brian Perillat, the senior manager and analyst with Canfax, said...more