Slaughter prices are up
Fed steers averages were up $5 per hundredweight and heifers were up $7.25 last week.
Prices firmed mid-week with packers aggressively looking for cattle and producers willing to sell at the improved prices, said Canfax.
Stronger cutouts the previous week and stronger trade indicated in Nebraska helped to support the higher prices.
The averages look lower than the majority of cattle sold April 14 and 15 because they include cattle sold April 8 when the market was still in the low $80s.
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The week’s volume appears large at about 28,000 head, up 100 percent from the week before, but this total also includes April 8 trade.
Trade slowed April 15 as packer inventory proved adequate.
Alberta prices April 15 were steers $84.30-$88.25 per cwt., $141.10-$143 flat rail, and heifers $83-$88, $140.25-$143 flat rail.
Slaughter volumes should be back up to full speed after the Easter holiday, said Canfax.
More calves are in the mix, increasing the volume as the momentum shifts from majority yearlings to majority calves.
Post-Easter demand will dictate the market’s future volatility.
Boxed beef cut-out values for Canadian product climbed, but packers struggled to price product equivalent to the U.S.
The spread between Choice and AAA has been wider than normal.
Montreal wholesale prices rose to $148-$152 per cwt., while the Calgary market is up $2-$6, at $142-$147.
Canadian packers should be back up to full kills this week after taking time off for Easter with a kill of 56,225.
U.S. cutouts gained strength, up $7-$8.25 over the week before and 18-21 percent higher than a year ago.
Auction numbers build
Alberta auction market volumes started last week slow, but gained momentum and prices climbed.
Slightly more than 37,500 head traded, up 74 percent from the Good Friday week and 36 percent higher than a year ago. Snow and rain across most of Alberta helped encourage those buying for the grass market, said Canfax.
Steers 300-500 lb. traded $7-$7.25 per cwt. stronger, 500-800 lb. were up $4.75-$5.50, and 800-900 lb. and heavier were $2.50 higher.
Heifers 300-500 lb. traded $8-$9.25 per cwt. higher on limited trade, while 500-800 lb. were up $1.25-$3.50, and 800-900 lb. and heavier gained 25 cents-$2.
D1, 2 cows rose $2.25.
The feeder market continues to see a wide range of quality with many green calves in the mix. More buying interest was noted for calves lighter than 700 lb. that would go onto grass. Also, U.S. interest was present, but less out-of-province interest was noted, said Canfax.
Volatility will remain in the feeder market until there is concrete news about the border opening.
Stock bred cows on light trade were $400-$800 on lower quality and $800-$1,100 on good quality. Bred heifers were $500-$800 on lower quality in northern and central Alberta and good quality heifers brought $800-$1,075 across the province.
Cow-calf pairs volumes increased with prices $500-$1,350 depending on age and quality.
The Alberta-Saskatchewan cattle-on-feed report showed 785,291 head in feedlots with more than 1,000 head as of April 1, down 21 percent from the year before, but up by 4,694 head from the March 1 total.
Placements in March were 178,744, up 55 percent from February due to improved prices. Compared to 2003, placements were down two percent but up eight percent from 2002.
The largest gains in placements came in the lighter categories, under 700 lb.
Marketings for March were 14 percent lower than in 2003.
U.S. hog prices rebound
U.S. cash hog prices rebounded by about four percent last week. The Iowa-Minnesota daily direct hog price (plant mean, 51-52 percent lean, live equivalent) increased to $49.44 US per cwt. on April 15 from $47.40 on April 12, said Manitoba Agriculture.
Tight supplies forced plants to raise bids to attract hogs. Many packers were closed over the Easter weekend and were short on production.
Favourable planting weather in the Midwest contributed to the reduction in hog shipments.
U.S. wholesale prices for pork increased slightly.
Lean hog futures prices fell hard despite the rise in hog and pork cash prices. The large difference between cash and futures triggered the decline.
The weaker loonie supported prices in Canada, said Manitoba Agriculture. Maple Leaf has ended its cash flow contract in Manitoba and is now pricing hogs under the old Signature and CME/Signature contracts.
Sheep, lambs and goats
Ontario Stockyards reported 882 sheep and lambs and 209 goats traded. All classes of sheep, lambs and goats sold at steady to higher prices due to the light volume.
All prices in dollars per cwt.
New-crop lambs $140-$179, high to $195; 65-80 lb. $127-$171, high to $176; 80-95 lb. $125-$154, high to $172; over 95 lb., $110-$135, high to $150.
Feeder lambs $115-$145. Lambs, over 120 lb. $77-$120.
Sheep $54-$60, high to $70.
Plainer types, all weights, $45-$58.
Rams $55-$68.
