The announcement of a BSE infected animal in Alberta was not expected to affect markets.
Western Canadian packer interest in the cash market was mixed with Alberta dressed bids from $4 lower to $6 higher than the previous week.
However, cash sales were too light to establish a weighted average steer or heifer price.
Reported bids and sales were in the mid $180s per hundredweight.
Chicago live cattle futures rose on the discount to the U.S. cash market.
Alberta cash-to-futures basis levels appeared a shade weaker than the five year average.
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It was the second consecutive week in which western Canadian fed slaughter fell below 29,000 head, reflecting slower packer chain speeds.
Some show list participants have recently revised or pulled cash cattle off their weekly offering.
There could be several reasons.
Many cash traders are current in their marketing, and cattle could still use the extra days on feed.
Feedlots want to ensure they have enough cattle around to meet contract obligations.
Also, feedlots might be pushing open cash cattle into March.
Weekly fed exports in January were down 50 percent from last year.
Cows steady
D1, D2 cows ranged $125-$145 to average $135.50 per cwt. and D3s ranged $115-$130 to average $120.50.
Rail bids rose to $259-$264 delivered. Slaughter bulls soared to record highs, averaging $150.75.
Weekly western Canadian non-fed slaughter to Feb. 7 fell three percent to 8,205 head.
Feeder prices rise
The Alberta calf-feeder spread widened on strong calf demand and a tightening supply of quality yearlings.
Calf prices rose more than $5.50. Feeders heavier than 700 pounds rose $3-$4.
Strong feedlot demand persists on both sides of the border and interest in grass cattle has intensified.
Weekly Alberta auction volume rose 30 percent to about 24,000.
Weekly feeder exports to Jan. 31 rose 20 percent to 11,467 head.
Finishing margins on 800-900 lb. feeders are not attractive, but 600 lb. calves that will be ready in the fourth quarter present a more attractive feeding option.
Feeder prices next week are expected to be steady while calf prices should be firm on strong demand.
Bred cows ranged $1,700-$2,900.
Cattle on feed
Alberta, Saskatchewan cattle on feed Feb. 1 totalled 868,867 head, down 11 percent from last year, and seven percent below the five year average. It was the smallest February population since 2004.
January placements were 90,564, down 23 percent. January marketings were 109,194, down 16 percent and the smallest since 2000.
Beef weaker
US Choice cutouts fell $2.08 to US$239.10 per cwt. and Select fell 20 cents to $235.19.
The Montreal wholesale price was steady at C$318-$320 per cwt.
This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattlemen’s Association. More market information, analysis and statistics are available by becoming a Canfax subscriber by calling 403-275-5110 or at www.canfax.ca.
