Cattle prices still falling
Fed steer prices fell $3 per hundredweight on average and heifers fell $4.
Prices usually decrease this time of year, but with the tighter supplies and the lower carcass weights, Canfax said it’s disappointing to see prices fall as steadily as they have the past two weeks.
Most buyers were Canadian.
Volume for the week was 12,800 head, up 19 percent from the previous week.
Alberta prices April 24 were steers $105.30-$107.15 per cwt., flat rail $173.75- $175.90 and heifers had no live sales recorded, but on the flat rail, light heifer trade saw sales at $174.
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Calgary prices for this week are down by $1-$3 at $172-$175 per cwt.
The eastern market price is down $2-$4 at $183-$184.
Canfax expected fed cattle prices to be steady this week.
Longer term, Canada will likely follow U.S. trends through the summer but tighter supplies here should help to narrow the basis levels.
Mixed feeder results
Feeder cattle prices were mixed with more sales steady to $2.50 stronger, but some classes of cattle were weaker, said Canfax.
Steers weighing 500-600 pounds were almost $2.50 lower and heifers between 500-800 lb. were 50 cents to $2 lower.
Volume was up with 36,600 head sold, 33 percent larger than the week before and 27 percent larger than the same week last year.
Slaughter cow trade was slighter higher. D1, 2 cows were 50 cents higher at $60.45 per cwt.
While the week’s volume was large, feeder supplies should be tightening up into late spring, said Canfax. This generally causes feeder prices to hold steady to firmer.
Tighter slaughter cow numbers generally will generate higher prices over the next few months before hitting typically normal summer highs toward the end of June or early July.
In stock cow trade, bred cow and heifers traded mostly $1,000-$1,300.
Cow-calf pair trade was more active, with the range $700-$1,700, but most traded at $1,200-$1,500.
Fewer hogs marketed
With producers preoccupied with fieldwork, the number of hogs marketed fell.
Wholesale prices for bellies, hams and butts increased, raising the pork carcass cutout value by more than $2 US per cwt.
With improved margins, packers increased prices to get the hogs they needed on both sides of the border.
The Iowa-Minnesota daily direct hog price (plant mean, 51-52 percent, lean carcass converted to live weight) rose from $36.48 per cwt. on April 21, to $40.74 on April 24.
The price in Canada and the United States averaged about eight percent above the previous week’s price.
Lean hog futures prices also ended the week higher.
Until last week, Maple Leaf Pork in Brandon has published its signature base price every Thursday and the price was valid for the following week.
From now on, the lag effect will no longer exist. Maple Leaf has modified its pork program to bring it in line with prices in the U.S. and the rest of Canada.
It has moved to current week pricing and says the signature price formula has not changed, only the timing.
