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.
Fed market stronger
In an abbreviated report, Canfax said the weighted average for steers was $159.47 per hundredweight, up 92 cents, and heifers were $158.24.
Canadian cattle prices rallied through the holidays and were the highest since June.
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Both major Alberta packers were buying.
The Canadian dollar rallied about one cent.
Average steer carcass weights for Dec. 31 were 914 pounds, down from 921 lb. the previous week.
The weight was 940 lb. a year ago.
In the United States, slaughter-ready, or cash, cattle in the Plains fetched US$116-$118 per cwt., steady to down $4 from the previous week.
Chicago cattle futures stalled after the significant rally in the fourth quarter of 2016.
Live cattle futures dropped almost $48 from the spring high to the October low, but the futures had regained half of those losses by the end of the year by rallying $24.
Traders in the Chicago market last week were cautious to see how demand develops early in the new year.
Wholesale beef prices in the U.S. weakened.
American packers had ample supply, but their margins were still good, which might limit the downside.
Non fed market
Cow prices were a little stronger last week.
D1, D2 cows ranged C$92-$101 to average $97.50. D3 cows ranged $80-$94 to average $86.83.
Rail grade cows were $181-$186.
Slaughter bulls were $105.88, down $2.54.
Feeders
Canfax said the feeder market was lightly tested in Alberta last week.
Calf prices were steady with where they ended 2016, and heavier feeders had a stronger tone.
Auction trade will get back to normal this week.
U.S. beef lower
Choice cutouts were US$201.52 per cwt., down $1.95. Select was $193.39, down 50 cents.
