Lower fed cattle supplies
SASKATOON (Staff) – About half as many slaughter cattle were offered for sale in Alberta last week compared to mid-February, and prices declined because of it.
With 17,000 head sold the week ending Feb. 17, and a Monday holiday in the U.S. and Alberta, Canfax reports packers were content to sit on inventory acquired during the previous week. Prices continued to erode as the week progressed, to end $2 per cwt. lower on average. Feedlots were reported to pass on bids lower than the quoted ranges.
Trade on Feb. 23 saw steers prices at $91-$93.25 per cwt. while heifers were between $89.25 and $92.60.
Bucking the trend in the fat cattle market, cow prices were up by an average of $2 per cwt. last week. Canfax said the biggest portion of cow numbers have been sold already.
Outlook for prices is firm. D1 and D2 cows were priced from $55-$66 per cwt. while railgrade bids were $110 -$119.
