SASKATOON (Staff) – It was another tough week in the cattle markets. Futures prices in Chicago made contract lows, U.S. Southern Plains cash bids were below $70 per hundredweight for the first time since the new year and consequently bids for Canadian fed cattle, slaughter cows and feeders followed suit.
Canfax reports slaughter cattle trade opened the week with light volumes but steady prices. Those prices didn’t last. By March 23, bids were down by $3-$3.50 per cwt., at $84.80-$87 for steers, and $83-$86 for heifers. Canfax reports packers were comfortable with their inventories. Americans did buy some local cattle later in the week.
For slaughter cattle, liveweight bids were down $2-$3 per cwt. to $53-$60 for D1/D2 cows, while railgrade bids were down as much as $5, at $107-$110.
Feeders didn’t escape the pressure. Calves over 700 lbs. were down an average of $3 per cwt. while lighter calves were $3-$5 lower. Canfax said volumes were up 20 percent over the previous week and one-third higher than the same time in 1994.
