Western Producer Livestock Report

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Published: March 3, 2005

Fed cattle prices down

Volumes reported by Canfax members were smaller because some producers were hesitant to sell at lower prices.

Slightly fewer than 19,000 head traded, down 22 percent from the week before, and packers appeared comfortable with their inventory, said Canfax.

Averages for the week were $1.50 per hundredweight lower on steers and $1 lower on heifers, with most of trade taking place at $88-$90 live and $150-$151 dressed.

Alberta prices Feb. 24 were steers $88.70-$89.05 per cwt. live, $150.65-$151.35 flat rail and heifers $87.75-$89.50, $149.00-$152 flat rail.

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A wheat head in a ripe wheat field west of Marcelin, Saskatchewan, on August 27, 2022.

USDA’s August corn yield estimates are bearish

The yield estimates for wheat and soybeans were neutral to bullish, but these were largely a sideshow when compared with corn.

Documents laying out export requirements were made available last week by the Canadian Food Inspection Agency and United States Department of Agriculture. Producers are trying to figure the cost implications of these requirements. Until actual movement of live cattle begins, the fed market will fluctuate depending on these costs and how they fit into the basis.

Market-ready supplies of fed cattle are anticipated to increase seasonally going into March and April, said Canfax.

Canadian AAA cutout fell $3 two weeks ago, while AA product took a beating, falling $11. However, these prices were eight to 10 percent higher than a year ago. Trim held steady.

U. S. Choice and Select cutouts were $2.75 US and $2.50 lower respectively, but movement was better. These prices are also five to 10 percent higher than last year.

Calgary wholesale for this week’s delivery was down $2 Cdn at $154-$156.

Volumes pressure feeders

Alberta auction market volumes were down 17 percent from the week before, but were more than three times larger than last year.

About 45,500 head traded. Prices fell because demand could not match the larger volumes moving, said Canfax. The lower fat market and confirmation that regulations on exporting cattle to the U.S. will be complex encouraged the downward trend.

Steers 300-500 lb. were $1.75 per cwt. lower, while 500-700 lb. traded $2.75-$3.25 lower. Steers 700-900 lb. and heavier fell 50 cents-$1.75.

Heifers 300-500 lb. traded 50 cents-$1.50 lower than the week before, 500-600 lb fell $2.50, and 600-800 lb. were $1.25-$1.50 lower. Heifers 800-900 lb. and heavier fell $1.75-$2.50.

When compared to a year ago, all averages were $23-$36 higher.

D1, 2 cows continued to gain strength, rising $1.25, while butcher bulls were $1.50 higher.

D1, 2 cows and butcher bulls should remain supported in the short run by tighter seasonal supplies.

In stock trade, medium quality bred cows were $350-$700, while excellent quality fetched $700-$1,225. Most bred heifer trade was at $800-$1,175, however some traded at $790-$980.

Hog prices climb

The Manitoba hog report is not available.

Ron Plain of the University of Missouri said it was another good week for hog producers. Live top hog prices Feb. 25 were steady to $1 US per cwt. higher compared to a week earlier. Carcass prices were up $3.40-$3.70 per cwt. from Feb.18.

The top prices live for U.S. select markets were: Peoria $47.50 per cwt., St. Paul and Sioux Falls $51 per cwt., and eastern Missouri $47.25 per cwt.

Average weighted carcass price by area were: western corn belt $71.03 per cwt., eastern corn belt $66.22 per cwt., Iowa-Minnesota $71.35 per cwt., and nationwide $69.31 per cwt.

Slaughter for this week under U.S. federal inspection was estimated at 1.97 million head, no change from a year earlier, said Plain.

Slaughter for the past five weeks has been up about 3.5 percent from a year earlier.

Goat prices rise

Ontario Stockyards reported 1,318 sheep and lambs and 187 goats traded. All classes of sheep and lambs sold steady. Well-fed kid goats sold $10-$20 Cdn higher, while all other goats enjoyed strong demand.

Markets at a glance

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