Western Producer 2015-01-01

LIVESTOCK THE WESTERN PRODUCER | WWW.PRODUCER.COM | JANUARY 1, 2015 51

HELPING OTHERS IN NEED

Basic happiness is when you’re warm, fed and cared for

COWBOY LOGIC value of $1,300. It was a big boost parents about food and warmth this THIS YEAR, THE SALVATION ARMY HOPES TO RAISE
for the cause championed by the Christmas, our children can count on
RYAN TAYLOR bell ringer that day. finding socks and long underwear $21 million
under the tree and some fruit and
There’s something about Christ- Fargo kettles have had gold coins beef jerky in their Christmas stock-
mas that makes me think about show up in them for 12 years run- ings. They’ll get toys and frivolous
our priorities: the gifts we give, ning, and I guess it happens in kettles things, too, but not without also get-
the gifts we ask for, the things we across the country. ting a story about my father’s pride in
need and what we most appreciate. providing the basics.
The Salvation Army does a lot to
I often think of my dad when we satisfy what are called “basic needs” And I’ll put money in their little
have a good meal in our home or I for people who are struggling, such hands to stuff in the red kettle when
buy the kids a new winter coat. as a hot meal and some warm we walk by a bell ringer so that they
clothes. They are same things that my know the importance of helping oth-
I remember many times, when he father prided himself in providing his ers stay warm and well fed this holi-
was pondering the limited financial family.The Salvation Army gives us day season.
success of his life or thinking back on an opportunity to help provide
his work to provide for his family, that those basics for other families, and Ryan Taylor is a rancher, writer and senator
he would say, “well, we’ve always had they connect us with people we do in the state legislature from Towner, North
plenty of good food and warm not know but who need our help. Dakota.
clothes for everyone.”
So, as I remember the lessons of my
It used to seem funny to me when I
was younger. Much of today’s culture Winter. It’s the best time
would say success is tied to the size of of year to think about spring.
your house, the prestige of your new
car or the sum total of your bank Be ready with John Deere services. -RKQ'HHUHFRP$J6HUYLFH
account. Dad’s definition was more
basic: warm and well fed. 'RQŤWZDLWXQWLOVSULQJWRWKLQNDERXWVSULQJ1RZLVWKHWLPHWRJHW
SUHSDUHG6FKHGXOHDQHTXLSPHQWLQVSHFWLRQWRGD\WRFDWFKWKHWKLQJV
As I got older and became a father, WKDWFRXOGVORZ\RXGRZQEHIRUH\RXKHDGWRWKHƟHOGQH[WVHDVRQ
Dad’s values began to make more :HŤOOFKHFNIRUZRUQSDUWVDQGUHSODFHWKHPLI\RXQHHGLW:HŤOOHYHQ
sense to me. I knew where his appre- UHFRPPHQGVRPHDWWDFKPHQWVWRKHOS\RXGRPRUHWKLVVSULQJ
ciation for the basics originated.
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Born in 1921, Dad’s father died GDWHRQPDLQWHQDQFHDQGNHHS\RXLQWKHƟHOGZLWKUHJXODUO\VFKHGXOHG
when he was just a year and a half. YLVLWVIURP\RXUORFDOGHDOHUWHFKQLFLDQ$QGZKLOH\RXŤUHWKLQNLQJDERXW
WKHIXWXUHFRQVLGHUWKHWHFKQRORJ\DYDLODEOHWKURXJK-RKQ'HHUH
Along with his baby sister and his )DUP6LJKW™ PRELOHVHUYLFHV7KHUHŤVQREHWWHUZD\WRIXWXUHSURRI\RXU
big brother, he was raised by his wid- LQYHVWPHQWDQG\RXURSHUDWLRQ
ow mother and widowed grand-
mother through the Depression of :DQWWREHUHDG\IRUWRPRUURZ"6HH\RXU-RKQ'HHUHGHDOHUWRGD\
the 1930s. I reckon he was imprinted
with a deep knowledge of scarcity
and an appreciation for the basics in
life.

Both my parents had that Depres-
sion era appreciation with Mom
born to a family of seven children in
1932 to an immigrant Norwegian
farmer.

It helped me understand why they
would talk about getting an orange or
a new pair of socks in their Christmas
stocking or what a special treat it was
if my Grandfather Syvert would bring
home a candy bar from town and
split it into seven equal parts for Mom
and her siblings. We’re amused by
those stories now when we have so
much more.

But not everyone has so much
more. That’s why we still have people
ringing bells and collecting money in
Salvation Army kettles at Christmas.
And those of us who can relate to the
plea, or have empathy and a gener-
ous spirit, or maybe were raised with
Depression era values, dig into our
pockets and put some money in
those red kettles.

I smiled when I heard the story
about a gold coin showing up in a
red kettle in Fargo, North Dakota.
Wrapped in a paper bill, the anony-
mously donated gold coin had a

Download the
free app today.


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SURPRWLRQDOSHULRGLQWHUHVWFKDUJHVZLOOEHJLQWRDFFUXHRQDPRXQWƟQDQFHGDW$35$,5$&5DQGPLQLPXPPRQWKO\SD\PHQWVZLOOEHUHTXLUHG$FFRXQWVWDWHPHQWVLVVXHGPRQWKO\,QWKHHYHQWRIGHIDXOW
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52 JANUARY 1, 2015 | WWW.PRODUCER.COM | THE WESTERN PRODUCER

AGFINANCE CDN. BOND RATE: CDN. DOLLAR:

0.37% $0.8597

1.60% 0.890
1.50% 0.880
1.40% 0.870
1.30% 0.860
1.20% 0.850

11/17 11/24 12/1 12/8 12/15 12/22 11/17 11/24 12/1 12/8 12/15 12/22

Bank of Canada 5-yr rate Dec. 22

AGFINANCE EDITOR: D’ARCE MCMILLAN | Ph: 306-665-3519 F: 306-934-2401 | E-MAIL: [email protected] | TWITTER: @DARCEMCMILLAN

HEALTH LABEL PROPOSAL AG STOCKS DEC. 15-19

Miller rides gluten-free wave Rebounding energy shares benefitted both
Canadian and U.S. markets. For the week,
the TSX was up 5.4 percent, the Dow rose 3.0
percent, the Nasdaq increased 2.4 percent and
the S&P 500 jumped 3.4 percent.

Avena Foods works with oat growers who follow a special system to help prevent wheat contamination Cdn. exchanges in $Cdn. U.S. exchanges in $U.S.

GRAIN TRADERS

BY DAN YATES NAME EXCH CLOSE LAST WK

SASKATOON NEWSROOM ADM NY 52.24 49.85
27.60 25.30
A specialty oat marketer in Regina AGT Food TSX 90.98 90.02
is eager to add the words “gluten free” 36.86 36.73
to its packaging. Bunge Ltd. NY

Avena Foods already markets its ConAgra Foods NY
cereal, pancake, muffin and cookie
mixes as “wheat free,” but proposed PRAIRIE PORTFOLIO
changes from Health Canada would
allow the farmer-owned company to NAME EXCH CLOSE LAST WK
take advantage of the consumer buzz
word. Ceapro Inc. TSXV 0.64 0.67
19.50 19.14
The move allows the company to Cervus Equip. TSX
further target a segment of shoppers 2.16 2.18
who, for one reason or another, want Input Capital TSX 29.91 28.40
to avoid eating the grain protein. 8.87 8.85
Ridley Canada TSX
“We would immediately adopt the
Health Canada opportunity,” Avena Rocky Mtn D’ship TSX
chief executive officer Rob Stephen
said about the proposed regulations FOOD PROCESSORS
announced in November.
NAME EXCH CLOSE LAST WK
“We think it’s great for the con-
sumer and we think it really adds Hormel Foods NY 52.27 50.96
clarity and it’s something that we’ve 19.00 17.82
been working hard at for six or seven Maple Leaf TSX 23.77 23.15
years.” 40.23 40.80
Premium Brands TSX
Oats shouldn’t cause medical prob-
lem for people with gluten issues, but Tyson Foods NY
consumer products can be contami-
nated with crops that contain gluten, FARM EQUIPMENT MFG.
either in the field, a mill or a process-
ing facility. NAME EXCH CLOSE LAST WK

Specialty producers take extra Ag Growth Int’l TSX 55.48 54.78
measures to avoid that contamina- 45.28 42.16
tion. In Avena’s case, the company AGCO Corp. NY 5.40 6.15
works with more than 50 growers in 91.71 90.50
Saskatchewan and Manitoba under a Buhler Ind. TSX 8.09 7.67
specialized production system that 90.06 86.41
keeps wheat out of their rotation for Caterpillar Inc. NY 12.58 12.65
at least three years.
CNH Industrial N.V.NY
Avenabuyscommonvarieties such
Dancer or Orrin, which are chosen Deere and Co. NY
for their milling qualities. They are all
grown conventionally. Vicwest Fund TSX

However, Stephen said growers use FARM INPUT SUPPLIERS
an isolation strip, clean equipment
and pedigreed seed to help keep out NAME EXCH CLOSE LAST WK
wheat volunteers.
Agrium TSX 110.65 105.96
Oats are tested for gluten content 85.15 85.57
when entering the facility and again BASF OTC 139.34 139.40
in a laboratory at the company’s 45.84 43.35
Regina headquarters, where it em- Bayer Ag OTC 73.36 69.35
ploys 45 people. 9.68 9.50
Dow Chemical NY 121.12 117.94
Health Canada’s proposed changes 46.00 44.60
would allow oat products that con- Dupont NY 41.49 39.59
tain less than 20 parts per million of 64.77 62.16
gluten from wheat, rye and barley to BioSyent Inc. TSXV
claim gluten-free status.
Monsanto NY
The new regulations aren’t in place
yet, and Health Canada is taking com- Mosaic NY
ments on the proposals until Jan. 29.
PotashCorp TSX
Stephen said Avena, which carries
certification from a gluten-free Syngenta ADR
organization, strives for 10 parts per
million. Avena Foods hopes to soon take advantage of a Health Canada proposal to allow gluten free labelling on its TRANSPORTATION
Oats Only products. | FILE PHOTO
The company markets its Only Oats NAME EXCH CLOSE LAST WK
brand in Canada and supplies ingre- store shelves was higher than the 20 WHAT IS CELIAC DISEASE? gluten sensitive, who have a reaction
dients in other countries such as the ppm threshold, with amounts vary- when they consume gluten, and CN Rail TSX 77.42 73.66
United States, which has a higher ing from 23 to 1,807. The body absorbs nutrients through people are making lifestyle choices CPR TSX 219.97 204.15
standard for gluten content. the walls of the intestine. Intestines around avoiding gluten as well,” said
“Unless you’re a specialized pro- are covered with hairy strands, Stephen. List courtesy of Ian Morrison, financial adviser with the
An American study published in cessor of gluten-free oats, you can’t called microvilli, to increase the sur- Calgary office of Raymond James Ltd., member of the
the New England Journal of Medicine really make that assurance,” Stephen face area and absorb nutrients. A mill line expansion announced in Canadian Investor Protection Fund. The listed equity
in 2004 found that gluten content in said. 2014 expanded the company’s pro- prices included were obtained from Thomson Reuters
most rolled and steel-cut oats on In those with gluten intolerance the duction capacity by 50 percent. and the OTC prices included were obtained from PI
“You need the audit verification. lymphoid tissue identifies gluten as Securities Ltd., Assiniboia Farmland LP. The data listed
You need the lab. You need the dangerous and produces antibodies Stephen said he sees a “layered” in this list has been obtained from sources believed to
dedicated facility. You need the to attack. market for these products. be reliable, but accuracy cannot be guaranteed. Within
specialized growers who know how the last 12 months, Raymond James Ltd. has undertaken
to do it.” This causes microvilli to atrophy, As much as 30 percent of shoppers an underwriting liability or has provided advice for a fee
decreasing a person’s ability to are making gluten-free purchases, he with respect to the securities of Alliance Grain. For more
Avena’s origins in the late 2000s absorb nutrients, leading to anemia, said. information, Morrison can be reached at 403-221-0396
predate much of the hype and debate weight loss, low vitamin D, bloating or 1-877-264-0333.
around gluten-free products, which and other digestive symptoms. Of that group, a small minority are
were spurred by controversial books celiacs, but the segment grows with Cervus expands
such as Wheat Belly and trendy diets Evidence of the gluten-free sector’s their families, who are also adopting
that introduced the phrase into the growth is easy to find: whole sections the diet, and others who may have Cervus Equipment Corp. is buying
popular vernacular. of urban groceries are now dedicated some symptoms of gluten sensitivity. the assets of Deer‐Country Equip-
to the products. ment (1996) Ltd.
However, Health Canada said in As much as half of gluten conscious
2007 that most people with Celiac In addition to Avena, the Canadian shoppers are making the purchase as Deer‐Country owns two John
Disease could tolerate eating some Celiac Association lists three other an elective lifestyle choice, he added. Deere dealerships at High River and
uncontaminated oat products. It brands of specialty oats marketed to Vulcan, Alta.
further updated its recommenda- celiacs in Canada: Cream Hill Estates, “That’s kind of the wave that we’ve
tions in 2014 to say that celiacs need Glutenfreeda and Bob’s Red Mill been riding. It’s a long-term, sustain- The purchase includes the operat-
not limit their consumption of spe- Oats. able health-care trend,” he said. ing assets,inventory, working capital
cially produced oats. and the land and building at the Vul-
“The celiac patients have driven the “It’s not a quick thing. We’ve been in can location.
People with celiac disease have a creation of a lot of this marketplace, it for six or seven years and continuing
diagnosed sensitivity to gluten and but there’s also a lot of folks who are to grow. The company has been grow- The deal will be funded by issuing
make up about one percent of the ing at a compounded rate of over 60 $750,000 worth of common shares of
population. percent over that time period.” Cervus, with the remainder paid in
cash drawn from existing credit
dan [email protected] facilities.

AGFINANCE THE WESTERN PRODUCER | WWW.PRODUCER.COM | JANUARY 1, 2015 53

SUCCESSION PLANNING

Retirement strategy developed in advance can save tax, fees

MONEY IN YOUR POCKET thinking about retiring and selling off dren must be done at fair market val- non-arm’s-length relationship during your retirement.
their shares or assets next year could ue, which can create a financial bur- because the Canada Revenue Agen- If so, this may be a good strategy for
GRANT DIAMOND benefit by dividing the sale between den for the children and a financial cy can scrutinize these transactions
December this year and January next hit for the parents who are selling the in regard to ownership of property, reducing probate fees and taxes be-
It is always better to start planning year. inventory all at once. legal agreements, lease payments cause you have reduced the overall
an exit strategy as soon as possi- and bank account transfers. size of the estate that will be subject
ble when considering retiring It is the result of Canada’s progres- An alternative would be to lease the to such fees and taxes. More impor-
from farming. This will provide sive tax rate system, in which taxpay- cattle to the children. In effect, you Using this lease provision may also tantly, it may also help reduce family
options for withdrawing funds from ers are taxed at 15 percent on the first are financing the cattle on their make it difficult for the children to infighting about who gets what after
the business over a number of years $43,953 of income and at 22 percent behalf and benefitting from an obtain loans from financial institu- your death.
and hopefully reduce the tax burden. on the rest. As a result, $87,906 in income stream through the lease. tions because they do not own the
income from the sale of property cattle. Banks may request that the In any case, developing a sound
For instance, farmers who are would be taxed at a higher amount if However, there is a downside to this parents get involved in the financing strategy for retirement well in advance
the property was sold in one year tactic. There is no mandatory inven- of the children’s loans, potentially of your departure date, including the
than if it was sold over two years. tory adjustment for tax purposes through personal guarantees or liens preparation of a detailed legal will and
because ownership of the cattle is not against the cattle. testament, can certainly help ease
Another technique involves trans- transferred and the title to the cattle your exit from the business.
ferring cattle to the children who will is still with the parents. As a result, tax Giving away some of the assets
be responsible for the ongoing oper- losses cannot be maximized. while you’re still alive is another Grant Diamond is a tax analyst in Kelowna,
ation of the farm. option, but only if you are confident B.C. with FBC, a company that specializes in
Lease arrangements require de- that you will have enough to live on farm tax. Contact: [email protected] or 800-265-
Selling or transferring assets to chil- tailed documentation to support this 1002.

AGROPUR

Quebec funds

buy into dairy

D’ARCE MCMILLAN

SASKATOON NEWSROOM

A consortium of Quebec investment
and pension fund managers and
banks has bought $470 million of pre-
ferred units in Agropur Co-operative,
Canada’s largest dairy co-op.

The transaction supports the co-
operative’s growth strategy and
finances its recently announced
acquisitions, including the dairy pro-
cessing assets of U.S.-based Davisco
and Canada’s Sobeys and Northum-
berland, a news release said.

These deals make Agropur one of
the largest North American dairy
product processors.

The transactions are expected to
increase Agropur sales to more than
$5.8 billion on an annualized basis.
Milk processing should climb to 5.3
billion litres a year in 41 plants in
North America.

Agropur has 3,473 dairy producer
members and 8,000 employees.

“Quebec’s high-performing busi-
nesses achieve economic growth,
notably when they expand into new
markets, and the investment in Agro-
pur Cooperative is ideally aligned
with this approach,” said Marc
Cormier, executive vice-president
for fixed income with La Caisse de
dépôt et placement du Québec, who
piloted the investment for La Caisse.

Agropur president Serge Riendeau
said increasing competition requires
the co-op to become more strategic.

“To help support Agropur’s growth
and sustainability, we have placed
our confidence in our highly regarded
financial partners, who are capable of
supporting our development while
keeping Agropur’s control and own-
ership in the hands of its members.”

The investments were as follows:
• La Caisse de dépôt et placement

du Québec — $150 million. Based
on certain conditions, La Caisse’s
stake could reach $300 million at
the next issuance of preferred
units.
• National Bank and the Fonds de
solidarité FTQ — $75 million each.
• InvestissementQuébec—$65mil-
lion.
• Capital régional et coopératif Des-
jardins — $55 million.
• Fondaction CSN — $50 million.

[email protected]

54 JANUARY 1, 2015 | WWW.PRODUCER.COM | THE WESTERN PRODUCER MARKETS

CATTLE & SHEEP GRAINS

Steers 600-700 lb. Slaughter Cattle ($/cwt) ICE Futures Pulse and Special Crops
(average $/cwt) Canada
Grade A Live Previous Year Rail Previous Source: STAT Publishing, which solicits bids from Maviga N.A.,
Alberta Dec. 12-18 Dec. 5-11 ago Dec. 12-18 Dec. 5-11 Barley (March) Legumex Walker, CGF Brokerage, Parrish & Heimbecker, Simpson
Steers Seeds and Alliance Grain Traders. Prices paid for dressed product
$275 Alta. 178.00 n/a 127.88 298.50-300.50 n/a $180 at plant.
$270 Ont. 157.48-185.40 171.38-187.63 122.16 298.00-302.00 298.00-302.00 $175
$265 $170 Dec. 22 Avg. Dec. 15
$260 n/a n/a $165
$255 Heifers n/a n/a n/a 297.00-301.00 297.00-301.00 $160 Laird lentils, No. 1 (¢/lb) 35.00-40.75 36.41 36.31
Alta. 161.33-183.31 125.15 Laird lentils, Xtra 3 (¢/lb) 19.50-25.00 22.36 20.64
11/17 11/24 12/1 12/8 12/15 12/22 Canfax 11/17 11/24 12/1 12/8 12/15 12/22 Richlea lentils, No. 1 (¢/lb) 28.00-36.00 32.70 n/a
Ont. 155.81-182.26
Saskatchewan Durum (March) Eston lentils, No. 1 (¢/lb) 27.00-31.00 29.16 29.44
*Live f.o.b. feedlot, rail f.o.b. plant. Eston lentils, Xtra 3 (¢/lb) 20.00-21.00 20.83 20.83
$280 $375 Sm. Red lentils, No. 2 (¢/lb) 25.25-29.00 27.18 27.46
$275 $370
$270 Feeder Cattle ($/cwt) Cattle Slaughter $365 Sm. Red lentils, Xtra 3 (¢/lb) 23.00-27.75 24.79 24.63
$265 $360
$260 $355 Peas, green No. 1 ($/bu) 8.30-9.50 8.66 8.66

11/17 11/24 12/1 12/8 12/15 12/22 Sask. Man. Alta. B.C. To Dec. 13 Fed. inspections only 11/17 11/24 12/1 12/8 12/15 12/22 Peas, green 10% bleach ($/bu) 7.30-7.50 7.46 7.46

Manitoba Steers Canada U.S. Milling Wheat (March) Peas, med. yellow No. 1 ($/bu) 6.90-7.75 7.11 7.11
900-1000 2,595,032 28,642,270 7.47
$270 800-900 no sales no sales 215-229 no sales To date 2014 2,506,096 30,748,135 $270 Peas, sm. yellow No. 2 ($/bu) 6.90-7.00 7.47 8.37
$265 700-800 210-240 215-235 225-235 206-236 To date 2013 $260
$260 600-700 240-251 228-250 238-249 220-251 % Change 14/13 +3.5 -6.8 $250 Maple peas ($/bu) 8.10-8.50 8.37
$255 500-600 252-278 240-275 254-275 235-270 $240
$250 400-500 273-309 275-305 277-303 251-306 $230 Feed peas ($/bu) 4.35-4.45 4.38 4.38
Heifers 296-350 290-337 307-339 295-338
11/17 11/24 12/1 12/8 12/15 12/22 800-900 11/17 11/24 12/1 12/8 12/15 12/22 Mustard, yellow, No. 1 (¢/lb) 31.40-33.00 32.47 32.47
700-800
600-700 Chicago Futures ($US/cwt) Cash Prices Mustard, brown, No. 1 (¢/lb) 23.80-25.00 24.70 25.68
500-600
400-500 Close Close Trend Year Canola (cash - Jan.) Mustard, Oriental, No. 1 (¢/lb) 29.50-31.00 30.63 31.60
300-400
Dec. 19 Dec. 12 ago $430 Canaryseed (¢/lb) 23.75-25.00 24.25 23.71
Canfax $425
Steers 202-224 190-215 210-220 200-219 $420 Desi chickpeas (¢/lb) 15.20-16.00 15.73 15.73
Heifers 210-238 203-232 220-234 215-234 $415
Cows 235-251 220-250 235-253 226-250 Live Cattle -1.30 132.53 $410 Kabuli, 8mm, No. 1 (¢/lb) 16.00-20.00 17.00 17.00
Bulls 244-275 248-280 254-274 245-275 Dec 160.75 162.05 -2.08 133.90 Kabuli, 7mm, No. 1 (¢/lb) 11.00-18.00 12.75 12.75
264-306 270-310 276-308 262-292 Feb 160.10 162.18 -1.72 134.50 11/14 11/21 11/28 12/5 12/12 12/19 B-90 ckpeas, No. 1 (¢/lb) 11.00-20.00 15.19 15.19
280-330 no sales 299-325 280-310 Apr 159.68 161.40 -1.58 129.03
Heifers 500-600 lb. Jun 152.50 154.08 -0.15 127.80 Canola (basis - Jan.) Cash Prices
(average $/cwt) Canfax Aug 150.80 150.95
Feeder Cattle -5.45 166.98 $-5 Dec. 17 Dec. 10 Year Ago
Alberta Average Carcass Weight Jan 220.15 225.60 -3.27 166.93 $-10 No. 3 Oats Saskatoon ($/tonne) 158.89 150.74 147.11
Mar 217.98 221.25 -3.02 167.95 $-15 Snflwr NuSun Enderlin ND (¢/lb) 18.70 18.70 19.75
$275 Apr 218.08 221.10 -2.83 168.35 $-20
$270 Dec. 13/14 Dec. 14/13 YTD 14 YTD 13 May 218.60 221.43 -1.63 169.23 $-25 U.S. Grain Cash Prices ($US/bu.)
$265 Aug 219.60 221.23
$260 881 857 862 875 11/14 11/21 11/28 12/5 12/12 12/19 USDA Dec. 19
$255 816 769 795 814 Est. Beef Wholesale ($/cwt)
686 654 684 674 Feed Wheat (Lethbridge) No. 1 DNS (14%) Montana elevator 6.54
11/17 11/24 12/1 12/8 12/15 12/22 946 813 929 890 No. 1 DNS (13%) Montana elevator 5.54
$215 No. 1 Durum (13%) Montana elevator 11.70
Saskatchewan U.S. Cash cattle ($US/cwt) Montreal This wk Last wk Yr. ago $210 No. 1 Malt Barley Montana elevator 5.76
n/a n/a 225-226 $205 No. 2 Feed Barley Montana elevator no bid
$270 Slaughter cattle (35-65% choice) Steers Heifers $200
$265 157.50 Canfax $195
$260 156.71
$255 National 158.11 159.77 Sheep ($/lb.) & Goats ($/head) 11/14 11/21 11/28 12/5 12/12 12/19
$250 251.00
Kansas 156.90 Dec. 12 Dec. 5 Flax (elevator bid- S’toon) Grain Futures
11/17 11/24 12/1 12/8 12/15 12/22 3.50-4.00
Nebraska 159.16 Base rail (index 100) 3.50-4.00 0.05-0.18 $540 Dec. 22 Dec. 15 Trend Year ago
Manitoba 1.80-2.30 $520
Nebraska (dressed) 250.00 Range 0.11-0.16 $500 Wpg ICE Canola ($/tonne) 436.30
$275 0.50 $480 445.70
$270 Feeders No. 1 (800-900 lb) Steers Trend Feeder lambs 1.80-2.30 $460 Jan 445.50 440.00 +5.50 454.90
$265 South Dakota 207.50-230 -3/-10 462.70
$260 Billings Sheep (live) 0.50 11/14 11/21 11/28 12/5 12/12 12/19 Mar 439.50 436.80 +2.70
$255 Dodge City 200 n/a 188.00
214.10-218 n/a SunGold Meats Barley (cash - March) May 438.40 436.50 +1.90 196.00
11/17 11/24 12/1 12/8 12/15 12/22 200.00
USDA Dec. 15 Dec. 8 $210 Jul 438.30 437.60 +0.70
243.00
$205 Basis: $25 Wpg ICE Milling Wheat ($/tonne) 247.00

New lambs 2.30-3.22 2.40-3.35 $200 Mar 234.00 238.00 -4.00 146.00
65-80 lb 2.06-2.87 2.30-2.89 $195 148.00
Cattle / Beef Trade 80-95 lb 1.97-2.30 2.10-2.44 $190 May 237.00 240.00 -3.00
> 95 lb 2.00-2.15 2.00-2.24 6.0950
Exports % from 2014 > 110 lb 1.70-1.85 1.90-2.10 11/14 11/21 11/28 12/5 12/12 12/19 Jul 239.00 243.00 -4.00 6.1675
Feeder lambs 1.50-2.30 1.75-2.25 6.2025
Canadian Beef Production Sltr. cattle to U.S. (head) 700,915 (1) +2.2 Sheep 1.10-1.20 1.05-1.15 Canola and barley are basis Wpg ICE Durum Wheat ($/tonne) 6.2975
Feeder C&C to U.S. (head) Rams 1.20-1.30 1.05-1.17 par region. Feed wheat basis
million lb. YTD % change Total beef to U.S. (tonnes) 419,639 (1) + 40.0 Kids Lethbridge. Basis is best bid. Mar 370.00 357.50 +12.50 3.5175
Total beef, all nations (tonnes) 65-135 65-135 3.2750
Fed 1835.7 +4 183,430 (3) + 11.2 Chicago Nearby May 360.00 357.50 +2.50 3.2125
Non-fed 276.2 -7 Futures ($US/100 bu.)
Total beef 2111.9 +3 262,730 (3) + 12.7 Wpg ICE Barley ($/tonne) 13.2850
Corn (March) 13.1975
Mar 177.00 177.00 0.00 13.0550
$440 12.9075
Imports % from 2014 $420 May 179.00 179.00 0.00
$400 39.28
Canfax Sltr. cattle from U.S. (head) n/a (2) n/a Ontario Stockyards Inc. $380 Chicago Wheat ($US/bu.) 39.57
$360 39.92
Feeder C&C from U.S. (head) 38,037 (2) -9.7 Mar 6.2575 6.1900 +0.0675
11/17 11/24 12/1 12/8 12/15 12/22 444.2
EXCHANGE RATE: Total beef from U.S. (tonnes) 124,096 (4) -22.6 Wool lambs >80 lb n/a May 6.2925 6.2125 +0.0800 429.9
DEC. 22 Soybeans (Jan.) 420.1
Total beef, all nations (tonnes) 182,464 (4) -11.0 Wool lambs <80 lb n/a Jul 6.3075 6.2025 +0.1050
$1 Cdn. = $0.8597 U.S. Hair lambs n/a $1050 4.3425
$1 U.S. = $1.1632 Cdn. (1) to Dec. 6/14 (2) to Oct. 31/14 (3) to Oct. 31/14 (4) to Dec. 6/14 Fed sheep n/a $1040 Sep 6.3750 6.2775 +0.0975 4.4250
Sask. Sheep Dev. Bd. $1030 4.4950
Agriculture Canada $1020 Chicago Oats ($US/bu.) 4.5500
$1010
Mar 3.0975 3.1375 -0.0400 6.4400
11/17 11/24 12/1 12/8 12/15 12/22 6.5400
May 3.1300 3.1725 -0.0425 6.6450
Oats (March) 6.7275
HOGS Jul 3.1550 3.1900 -0.0350
$360.0 6.4850
Due to wide reporting and $345.0 Chicago Soybeans ($US/bu.) 6.5050
collection methods, it is $330.0 6.5025
misleading to compare hog $315.0 Jan 10.3825 10.3950 -0.0125
prices between provinces.
Fixed contract $/ckg Hog Slaughter $300 Mar 10.4575 10.4600 -0.0025
Index 100 Hog Price 11/17 11/24 12/1 12/8 12/15 12/22
Trends ($/ckg) May 10.5350 10.5100 +0.0250
Minneapolis Nearby
Alberta (Hams Maple Leaf Thunder To Dec. 13 Fed. inspections only Futures ($US/100bu.) Jul 10.5975 10.5600 +0.0375

$185 Marketing) Sig 3 Creek Pork To date 2014 Canada U.S. Spring Wheat (March) Chicago Soy Oil (¢US/lb.)
$180 To date 2013 18,935,848 101,622,989
$175 Jan 11-Jan 24 Dec. 19 Dec. 19 % change 19,289,013 106,564,968 $690 Jan 32.04 32.27 -0.23
$170 Jan 25-Feb 07 161.42-163.02 158.00-161.30 $660
$165 Feb 08-Feb 21 163.02-164.62 162.41-165.99 14/13 -1.8 -4.6 $630 Mar 32.17 32.46 -0.29
Feb 22-Mar 07 163.55-164.62 158.58-163.39 $600
11/17 11/24 12/1 12/8 12/15 12/22 Mar 08-Mar 21 159.67-161.27 160.56-161.71 Alta. $570 May 32.39 32.67 -0.28
Mar 22-Apr 04 163.40-164.47 161.18-163.80 Sask.
Saskatchewan Apr 05-Apr 18 165.00-165.83 164.61-168.54 11/17 11/24 12/1 12/8 12/15 12/22 Chicago Soy Meal ($US/short ton)
Apr 19-May 02 166.90-166.90 160.95-166.24
$185 May 03-May 16 169.03-176.51 170.10-171.57 Jan 368.4 365.4 +3.0
$180 May 17-May 30 178.65-179.72 174.36-176.92
$175 181.86-184.00 175.83-176.58 Agriculture Canada Mar 357.2 353.9 +3.3
$170
$165 Index 100 hogs $/ckg May 351.1 347.3 +3.8

11/17 11/24 12/1 12/8 12/15 12/22 Chicago Corn ($US/bu.)

Manitoba 171.70 Man. 175.00 Mar 4.1175 4.0850 +0.0325
168.31 Que. 179.00
$185 May 4.2025 4.1650 +0.0375
$180 *incl. wt. premiums
$175 Jul 4.2675 4.2250 +0.0425
$170
$165 Sep 4.2925 4.2550 +0.0375

11/17 11/24 12/1 12/8 12/15 12/22 Minneapolis Wheat ($US/bu.)

Hogs / Pork Trade Mar 6.4500 6.3250 +0.1250

Export % from 2014 Import % from 2014 May 6.5100 6.3775 +0.1325

784,200 (1) +0.8 n/a n/a Jul 6.5850 6.4450 +0.1400
318,169 (2) +6.1 158,835 (3) -17.0
Sltr. hogs to/fm U.S. (head) 959,630 (2) -2.0 171,755 (3) -14.8 Sep 6.6350 6.5075 +0.1275
Total pork to/fm U.S. (tonnes)
Total pork, all nations (tonnes) (3) to Dec. 6/14 Agriculture Canada Kansas City Wheat ($US/bu.)

(1) to Dec. 6/14 (2) to Oct. 31/14 Mar 6.5775 6.4700 +0.1075

May 6.6275 6.4950 +0.1325

Jul 6.6700 6.5325 +0.1375

Chicago Hogs Lean ($US/cwt) Canadian Exports & Crush

Close Close Trend Year Close Close Trend Year To To Total Last
(1,000 MT) Dec. 14 Dec. 7 to date year
Dec. 19 Dec. 12 ago Dec. 19 Dec. 12 ago
194.8
Feb 81.90 83.25 -1.35 86.25 Jul 89.48 90.55 -1.07 99.03 Wheat 203.8 122.9 6394.6 6260.1
14.4
Apr 83.20 84.35 -1.15 91.18 Aug 88.60 89.50 -0.90 97.05 Durum 117.7 31.4 2095.2 1648.9
Oats 41.1 419.2 418.4
May 87.18 89.00 -1.82 98.40 Oct 76.65 78.43 -1.78 83.55 7.9
Barley 36.1 139.3 462.0 397.5
Jun 90.43 91.15 -0.72 100.50 Dec 72.45 73.80 -1.35 79.40 Flax 16.0 59.6 133.8 131.2

ELEVATOR (000 tonnes) Dec. 14 Dec. 7 YTD Year Ago Canola 100.2 3.7 3244.1 2884.3
SHIPMENTS Alta. 246.5 265.0 5655.4 4576.8 Peas 20.2 Dec. 10 1278.3 860.9
Sask. 330.2 306.9 8382.7 7367.9
Man. 104.8 129.2 2420.3 2794.9 Lentils 24.2 145.0 314.9 142.2

(1,000 MT) Dec. 17 To date Last year

Canola crush 136.3 2684.3 2548.7

WEATHER 55THE WESTERN PRODUCER | WWW.PRODUCER.COM | JANUARY 1, 2015

FROSTY HILLS | The Peace River flows through the frost- and snow-covered valley and
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The numbers on the above maps are average temperature and precipitation figures for the forecast week, based on historical data from 1971-2000.

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Agreement containing canola oil

No. 40069240 Member, Canadian Farm Press Association

LAST WEEK’S WEATHER SUMMARY ENDING DEC. 21

SASKATCHEWAN ALBERTA MANITOBA

Temperature Precipitation Temperature Precipitation Temperature Precipitation
last week
last week since Nov. 1 last week last week since Nov. 1 last week last week since Nov. 1
High Low High Low High Low
mm mm % mm mm % mm mm %

Assiniboia 2.9 -11.6 0.7 12.0 53 Brooks 1.5 -17.6 0.4 54.2 271 Brandon -2.4 -22.0 1.2 22.6 62
Broadview -1.3 -16.1 1.0 24.4 69 Calgary 6.2 -11.7 -20.9 0.3 19.5 54
Eastend 0.8 -10.7 2.4 13.1 44 Cold Lake -5.0 -13.4 0.4 43.7 212 Dauphin -1.1 -23.6 0.9 16.0 40
Estevan -0.4 -12.0 0.7 28.2 90 Coronation -2.7 -16.7 -20.0 0.0 17.1 47
Kindersley -3.9 -15.9 7.4 54.1 256 Edmonton 0.1 -14.1 0.7 60.6 186 Gimli -0.4 -20.0 0.8 10.1 24
Maple Creek 4.7 -19.9 2.3 22.4 82 Grande Prairie 1.1 -22.5 -22.5 0.7 14.8 33
Meadow Lake -4.3 -17.8 2.7 39.5 119 High Level -5.6 -20.9 2.9 45.4 215 Melita -1.2 -16.0 0.7 25.8 61
Melfort -3.5 -8.9 0.6 25.6 89 Lethbridge 5.4 -19.3 -21.6 0.8 11.3 27
Nipawin -4.0 -10.3 0.5 36.4 109 Lloydminster -6.0 -14.7 0.9 29.1 101 Morden -0.5
North Battleford -4.0 -11.6 4.1 60.7 216 Medicine Hat 4.0 -16.6 -8.6
Prince Albert -2.7 -9.4 4.0 69.9 224 Milk River 4.9 -18.7 3.3 79.0 196 Portage La Prairie -0.9 -22.1
Regina -0.3 -10.2 3.1 22.1 89 Peace River -7.0 -22.0 -3.8
Rockglen 0.6 -11.6 4.0 21.2 89 Pincher Creek 6.9 -11.4 0.2 19.7 45 Swan River -3.1 -6.2
Saskatoon -2.7 -9.6 0.8 35.1 140 Red Deer 2.7 -14.0 -9.3
Swift Current 2.3 -10.1 2.3 16.5 69 Stavely 6.6 -11.1 0.5 70.0 286 Winnipeg -0.5
Val Marie 3.3 -13.7 3.0 14.5 67 Vegreville -5.7 -17.6
Yorkton -1.7 -14.1 0.1 13.0 36 0.0 46.2 156
Wynyard -2.1 -9.6 0.7 34.1 109
0.7 34.0 145 BRITISH COLUMBIA

1.0 33.9 119 3.8
0.0 43.7 111 Cranbrook 4.2 81.0 104
0.5 70.4 153 Fort St. John -6.6 1.2 84.2 185
1.3 47.9 98
1.2 54.8 226 Kamloops 7.5 11.0 50.2 80
11.8 89.9 104
0.2 42.0 140 Kelowna 10.0

0.7 26.9 98 Prince George 4.8

All data provided by Agriculture and Agri-Food Canada’s National Agroclimate Information Service: www.agr.gc.ca/drought.
Data has undergone only preliminary quality checking. Maps provided by WeatherTec Services Inc.: www.weathertec.mb.ca

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