Fed cattle down
Fed cattle were down 75 cents-$3 per hundredweight last week.
Sales for the short holiday week started off poorly with packers bidding even lower than the close of the week before, said Canfax.
Producers resisted selling at these prices and by mid week, prices had recovered close to the middle of the week before. There was one less day of business but 14,000 more cattle traded.
Because of Good Friday, April 8 trade will be incorporated into next week’s averages.
A few more calves were included in the kill mix but yearlings still made up most of the slaughter, which was unusual for this time of year.
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Alberta prices April 7 were steers $79.20-$82.05, flat rail $130.25-$136 and heifers $79.30-$82.05, flat rail $129.60-$136.
Slaughter rates are expected to pick up after the holiday. Now the question is how quickly available cattle numbers will pick up, Canfax said.
April was originally expected to produce tighter market-ready cattle supplies but all it takes is a few too many to lead to a volatile market, said Canfax.
Numbers down, prices too
This Alberta auction market volumes and prices report includes sales from April 1-8.
Slightly more than 21,500 head traded, down 44 percent from the week before and 18 percent below a year ago.
While volumes were down, steer prices saw pressure. The exception was 300-400 lb. steers that traded $1 per cwt. stronger although on light numbers. Steers 400-700 lb. were down $2-$3.50 and 700-900 lb. and heavier were 50 cents lower.
Heifer prices were mixed, with lighter heifers under pressure and heavier animals gaining strength.
Heifers 300-500 lb. were $1-$3.50 lower and 500-600 lb. were down 50 cents.
Heifers 600-700 lb. were steady to slightly stronger, up $1, while 700-800 lb. heifers traded 50 cents lower.
In light trade, heifers 800-900 lb. and heavier traded 50 cents-$2 higher.
D1, 2 cows were steady to slightly softer, with the average 50 cents lower.
Even accounting for the holiday, volumes at auction markets were lower generally. Producers who have the feed and the facilities are content to continue holding animals in hope of positive news regarding the border, said Canfax.
Cattle going through the ring have a wide quality range and are overall very green.
There was thin buyer depth on heavier cattle going into a feedlot, but much more depth for cattle under 700 lb. going for grass.
Volumes are expected to be lower after the U.S. comment period closes and prices will continue to be volatile.
Expect steady prices on grass cattle as spring approaches and pressure on heavier cattle going into feedlots, given rising barley price and lower fed cattle prices.
Stock bred cow and bred heifer prices were lower on light volume in central and northern Alberta, with poor quality cows trading at $375-$600 and better quality at $600-$850.
Cow-calf pairs brought $650-$950 in central and northern Alberta.
Wholesale beef values are steady, with Montreal at $147-$149. The Calgary market is also steady with handyweight steers at $140-$143.
Canfax said U.S. cutouts saw an amazing rally in response to smaller kill levels.
The kill two weeks ago was only 588,000 and the holiday week kill was expected to even smaller. This move sent cutouts soaring, up more than $12 US on Choice and up $10 on Select. Prices were 10-14 percent higher than the same time last year.
Canadian kills remain large at more than 72,000 head more than in normal weeks. Steer carcass weights in Alberta dropped to 815 lb., which was 14 lb. lighter than the week before and 28 lb. lighter than three weeks ago.
Pork, hogs priced lower
Prices for wholesale pork and live hogs fell.
U.S. packers needed fewer hogs with plants closing for the Easter holiday.
Prices were also weakened by an increased number of hogs going to market early in the week.
However, prices for late spring and summer lean hog futures contracts climbed, said Manitoba Agriculture.
Packer profit margins were positive and that should stimulate purchases this week.
The Iowa-Minnesota daily direct hog price (plant mean, 51-52 percent lean, live equivalent) fell about 2.6 percent to $45.87 per cwt. April 7, from $47.08 on April 5.
Estimated average Manitoba hog prices were three percent below the previous week’s average Index 100 price of $162.29 per 100 kg.
New lambs down
At Ontario Stockyards, 5,977 sheep and lambs and 1,107 goats traded. New-crop lambs sold $30-$50 per cwt. lower, while all other classes of lambs, sheep and well-fed kid goats sold steady. Plainer type goats traded barely steady.
At prices in dollars per cwt.
New-crop lambs, $138-$181, high to $206.
Lambs, 65 to 80 lb., $105-$147, high to $179; 80 to 95 lb. $108-$132, high to $182; heavier than 95 lb., $97-$134, high to $137.
Feeder lambs $90-$130.
Lambs, heavier than 120 lb., $80-$119.
Sheep $44-$63, high to $70.
Plainer types, all weights, $35-$47. Rams $50.
