Active fed cattle market
The fed cattle market in Western Canada was active last week. Early in the week, American buyers searching for cattle to fill their plants pushed prices up $2-$3 from the previous week.
Waning interest from local and other American buyers had prices about $1 lower for the rest of the week.
Overall plenty of cattle were sold. Thursday’s steer market closed at $80.50-83.05 and heifers closed at $81.25-$82.
Even though the barbecue season is beginning, there is not a strong demand for beef. Lower prices are enticing consumers to buy, but more features and specials would improve sales.
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Over the next two or three months prices will be dictated by U.S. markets, Canfax reported. It expects plenty of volatility of the fragile market. It also expects the higher-priced rallies to be short-lived and suggests selling while the market is hot.
Prices next week will likely be lower with trade closer to $80 cwt.
Feeder cattle volumes up
In the feeder cattle market volumes were up 46 percent over last week, but two percent lower than last year. The number of feeder cattle traded slightly higher this week. An active start to the fed market sparked some enthusiasm for feeders, but by week’s end prices had eased off.
It’s expected lightweight cattle will continue to enjoy strong prices.
In the stock cow trade, volume was light with limited quality. Bred cows traded from $700-$1,150, bred heifers $700-$1,020. Pairs traded from $900-$1,625.
