U.S. beef price increase
Fed cattle prices last week regained the ground they lost the previous week.
The boost was caused by American packers who were caught short on supply and by an increase in consumer demand.
On average, prices were up $2-$3 per hundredweight in Alberta, but less in Saskatchewan and Manitoba.
On April 30, Alberta sold steers for $87.50-$90.25 and heifers for $88-$89.25, said Canfax.
The higher price attracted cattle and volumes rose 42 percent over the previous week.
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Canfax said recent volatility in the market isn’t good. Retailers have been pushing beef sales and higher wholesale prices could cause them to cut back. This could lead to reduced demand and send fed cattle prices down again.
However, with the May long weekend coming, Canfax expects short-term beef demand will be strong and forecasts steady prices.
Slaughter cows saw steady prices on moderate volume. Feeder cattle prices held mainly steady last week.
Canfax said the volume on offer was still fairly strong, but is starting its seasonal decline. Given reduced offerings, prices should remain firm.
In the stock cow trade, bred cows trained mostly at $850-$1,000, bred heifers traded at $900-$1,000 and cow-calf pairs at $1,000-$1,300.
Hog prices gain too
U.S. hog prices rose $1.50-$2.50 (U.S.) per hundredweight last week thanks to strong slaughter activity. The Omaha price for May 1 was $39.25 (U.S.)
Prices in Canada followed suit, gaining about four cents per kilogram during the week.
