Feeder cattle down
SASKATOON (Staff) – Feeder cattle prices continued to slip last week. Even though the number of calves was down by about 20 percent from mid-November, volumes were still 30 percent higher than the same week in 1994. Canfax reported several sales had calves passed out because buyers had no orders.
Cautious buyers, high grain prices and large supplies of calves still coming to market indicates there is little upside potential in feeder cattle prices, Canfax said.
Steers weighing 600-700 pounds averaged $84.59 per hundredweight in southern Alberta; $82.22 in central Alberta; $79.93 in northern Alberta; $82.93 in Saskatchewan; $87.50 in Manitoba and $78.49 in British Columbia.
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Trade in replacement females was uneven last week. Quality cows from reputation breeders traded between $1,050-$1,300 a head, with the same quality replacement heifers at $1,000-$1,250. Lesser quality cows were priced as low as $400 per head and up to $1,000, with the same quality heifers priced between $500-$950.
Slaughter cattle opened the week at steady money, but quickly lost ground when feedlots had ample supplies of short-fed cattle on hand.
Packers, on the other hand, were offering better money for cattle that had been on feed at least 100 days. Close to 1,500 head were passed by feeders, causing packers to stabilize their bids late in the week.
The overall weekly average was $1 per cwt. lower on steers and 50 cents lower on heifers. Trade on Nov. 23 had steers priced between $80.75-$83.65 and heifers from $83.25 to $84.25.
