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SASKATOON (Staff) – Fed cattle prices started out strong last week and Canfax says the prices managed to flush out more head than were originally expected to be on offer. Weekly volume in Alberta was better than 15,000 head.
A surprising number of those weighed better than 1,400 pounds due to mild winter weather that has helped gains. However, some cattle are getting taggy, Canfax reports, which is hurting yields.
Trade on Jan. 26 saw steer prices between $92.50 and $96.65, while the range on heifers was narrower at $94.50-$95.75. Local packers were brisk bidders, but American buyers showed interest too and several loads went south.
The strength in American cash cattle – the Southern Plains cash price is hanging in there at $74 (U.S.) per cwt. – will likely solidify with a favorable 13-state quarterly cattle-on-feed report from the U.S. department of agriculture.
The number of cattle in feedlots as of Jan. 1 was down by five percent and five percent more had been sold throughout the quarter.
