Fed cattle weaken
Fed steers were steady last week while fed heifers were $1.50 per hundredweight lower.
Trade started the week steady at $82-$84 per cwt. and $140-$142 dressed, but producers resisted selling at those levels, Canfax said.
Volumes picked up midweek. and totalled slightly less than 25,000, down 10 percent from the week before. Packer appetite at times was sporadic, because labour issues remained a hot topic.
Alberta prices Feb. 3 in limited trade were steers $82-$87.45 per cwt., $142.85-$143.55 flat rail and heifers $82.75.
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Canfax said front-end supplies remain current, but producers should note that supplies will increase seasonally in February. They are unlikely to become a burden.
Trade news will keep the market on its toes for the next while as producers look for good news to add leverage to their position.
Canadian cutouts two weeks ago fell $3 on AAA and AA product, following the downward trend from the United States. Trimmings were steady. Canadian kill backed off slightly two weeks ago to about 69,000 head. Beef prices in the U.S. lost more ground last week, with Choice down $4 and Select down $2.75. Calgary wholesale trade this week is steady to $1 lower at $143-$149.
Heavier feeders weaken
Feeder cattle volumes were larger with 24 percent more cattle trading than the week before.
About 53,000 head were marketed through Alberta auction markets, almost three times as many as a year ago.
Lighter cattle saw good demand, but heavier steers and heifers experienced weaker demand.
Steers 300-700 pounds were $2-$4 per cwt. stronger than the week before, while 700-800 lb. held steady.
Steers 800-900 lb. and heavier fell 25-50 cents per cwt.
Heifers 300-700 lb. rose $1.25-$2.75 and 700-900 lb. and heavier were steady to $1.50 stronger.
D1, 2 cows averaged 75 cents higher with sales up to $31 per cwt. Butcher bulls also rose, up about $1 from the week before.
Canfax said the week’s auction market volume was the largest for the first week in February since before 2001. Producers appear willing sellers at these higher prices and volumes are anticipated to continue increasing.
Prices are expected to remain firm to stronger as March 7 nears and indications appear the border will open.
Stock bred cows on medium quality were $300-$700, with quality cows bringing $700-$1,100. Bred heifers in southern and central Alberta were $700-$1,050. Cow-calf pairs were $700-$980.
Hog prices lower
Prices for all retail cuts of pork in the U.S. were lower resulting in lower hog prices, said Manitoba Agriculture. Live hog prices fell almost four percent from Jan. 30 to Feb. 3.
The average Iowa-Minnesota daily direct hog price (51-52 percent lean carcass converted to live weight) fell to $54.42 US per cwt. on Feb. 3.
The wholesale cut-out price fell by about $1.60 per cwt. to $72.05 per cwt. The CME lean hog February futures price fell over the week. For the week ending Jan 28, Manitoba five kilogram pig spot price bids climbed to highs of $81.23 Cdn per pig while contract prices reached highs of $51.32.
Spot prices for 23 kg pigs were to a high of $102.15 per pig and top contracts were at $80.43, said Manitoba Agriculture.
The U.S. national direct delivered price for five kg pigs (converted to Canadian dollars) ranged from $39.70-$81.25 per pig and the 23 kg pigs were $73.19-$109.16.
Sheep steady
Ontario Stockyards reported 1,532 sheep and lambs and 154 goats traded. All classes of sheep, lambs and goats sold steady to stronger.
