Auctions provide clues to economic strength

People who keep tabs on the health of theCalgary economy had two important indicators to watch at the Stampede grounds Thursday.

The annual Calgary Bull Sale and the Stampede Canvas Auction where companies bid to put their logos on the GMC Rangeland Derby chuckwagons are both seen as bellwethers for the economy.

How much companies are willing to shell out to advertise at the Stampede may reflect how well corporate Calgary has rebounded from the recession.

This year, canvas prices for the 36 driverstotalled $1,966,000, up about $275,000 from the previous year. The highest bid at the Roundup Centre Thursday was for defending champion driverChad Harden's canvas. Thatcame in at $120,000 from ATB Financial.

The average bid, at $54,600, was also up over last year'sby more than $7,000.

A canvas could be sold to an individual bidder, or a group of up to10 companies.

Bull sale rings upalmost $1M

The 110th annual bull sale at the Agricultural Building is traditionally a barometer of the beef industry.

Alberta's second biggest business isn't the cash cow it once was. It has been hit hard in recent years by BSE (bovine spongiform encephalopathy), tough new border restrictions in the U.S. and higher feed prices.

The Alberta Cattle Breeders Association said it will take a few more years for the industry to fully rebound, but they are seeing signs of recovery. This year's auctionrang upsales of $916,450 -- just shy ofan anticipated $1 million.

Association president Brad Dallas said the quality of bullswas impressive. "The indicators are all starting to show that the strength is coming back to the cattle industry," he said.

Mabel Hamilton, whose family has come to the auction for more than a century, said the sale is an important tradition. "We love it. There's an awful lot of positives. There's pride and integrity in what we do."