Fed cattle lower
Fed cattle price averages fell $2.50-$3.50 per hundredweight last week.
Sellers were discouraged by the lower prices and Canfax members reported only 10,500 head sold.
Buyer activity was thin with most of the plants comfortable in their live inventory heading into the Easter holiday week.
Alberta markets April 1 were lightly tested with steers on the rail at $130.25-$131.50 per cwt. and heifers $131.50-$131.75.
Steer carcass weights dropped by 14 pounds in Alberta last week indicating more calves getting into the kill mix. This will help lighten the tonnage but typically the AAA percentage drops fairly substantially as this change occurs.
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Some western plants were expected to reduce their kill schedule by two days and others by one day for the holiday. Canfax said improved beef movement after Easter could help stabilize prices in a few weeks.
Cut-out values in Canada dropped with prices down $3-$4.25 on AA and AAA cutouts. Movement has been slow for three weeks with only limited buying interest, said Canfax.
Export demand appears to be steady, likely due to smaller kills in the U.S.
U.S. cutouts were lower. Select fell $2 US per cwt. and Choice fell 35 cents compared to the previous week.
Wholesale carcass prices in Montreal fell by $2-$3 to $147-$149 Cdn and the Calgary market was down $3-$5 at $140-$143.
Feeders go to market
Alberta feeder auction market volumes increased again, up 14 percent from the week before.
Slightly fewer than 53,000 head traded, up 88 percent from a year ago.
The higher volume coupled with the lower fed market pushed prices down. The most pressure was felt at the beginning of the week and prices improved by week’s end.
Steers 300-800 lb. were $3.25-$4 per cwt. lower than the week before, while 800-900 lb. and heavier were down $1.50.
Heifers 300-400 lb. were down $4.25, while 400-600 lb. saw significant pressure, down $7-$7.50.
Heifers 600-900 lb. and heavier were $1-$4.50 lower.
D1, 2 cows fell $3.50.
There was not a lot of buyer depth to the market, but out-of-province and U.S. interest was still present, said Canfax.
Stock bred cows were steady with lower quality cows at $475-$700 and good quality at $700-$1,000. Bred heifers in northern Alberta were $450-$800, while in central and southern Alberta, bred heifers were $700-$1,050 in light trade.
Most cow-calf pairs traded at $750-$1,275.
U.S. hog price slips
The usual Manitoba Agriculture hog market report was unavailable.
University of Missouri agricultural economist Ron Plain reported American packers improved their margins but probably not to the extent they need.
Cash live hog prices were $1.50-$3.50 US per cwt. lower April 2 and average negotiated base prices by area for 185 lb. carcasses with 0.9-1.1 inch back fat, six square-inch loins, two inches deep were $2.62-$3.30 per cwt. below the week before.
The top prices for live hogs at various markets were: Peoria $42; St. Paul $45; Sioux Falls $43.50; and interior Missouri $43.75.
The average price for carcass hogs by area were: western corn belt $61.47; eastern corn belt $63.89; Iowa-Minnesota $61.63; and U.S. wide $62.50.
Slaughter under U.S. federal inspection was estimated at 1.928 million head, up 2.3 percent from the same week in 2003 and the highest ever for the first week in April.
Late in the week hog marketings were more than adequate to meet packer demand.
Packer profit margins were in the black and they could pay higher prices, but there was no need due to the number of hogs at marketing centres.
Sheep, goats higher
Ontario Stockyards reported 3,353 sheep and lambs and 847 goats traded. All classes of lambs were $20-$50 cwt. higher. Sheep and goats sold steady to higher.
All prices in dollars per cwt.
New-crop lambs $180-$236, highs to $247.50.
Lambs, 65 to 80 lb. $110-$176, highs to $220; 80 to 95 lb. $105-$139, highs to $150; over 95 lb. $94-$116, highs to $150.
Feeder lambs $110-$135.
Lambs over 120 lb. $65-$80.
Sheep $47-$60, highs to $71. Plainer types, all weights, $40-$55.
Rams $53-$74.
