Fed cattle rise
The fed cattle price average last week gained $1.50 per hundredweight as improved beef demand also improved the market psychology, Canfax said.
Slightly more than 24,500 head traded, up one percent from the week before. The offering was evenly split between cash and grid cattle.
Fewer than 5,000 head were exported to the United States two weeks ago, reflecting the narrow Canada-U.S. price spread, Canfax said.
Alberta prices May 26 were steers $85.65-$86 per cwt., flat rail $141.50-$142.50 and heifers $85.45-$86.50.
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Stronger beef trade in the U.S. heading into the Memorial Day and Father’s Day weekends has set up a renewed psychology for steady to stronger prices in the short run, said Canfax.
Beef climbs higher
A short supply of middle meats helped the Canadian cutout to rise again. Hip and chuck cuts lost ground.
With the Canadian kill remaining under 70,000 head, middle cuts will stay high. This is their strong demand season and heading into Father’s Day, the push for middles will be big. This could prompt beef imports from the U.S.
The Calgary market rose $5-$6 to a range of $143-$145.
U.S. cutouts gained ground in spite of larger kills in recent weeks. Choice was up nearly $3 US per cwt. and Select was up $2.60.
The Choice-Select spread remains at more than $20, indicating the tight Choice supply in the mix, Canfax said.
This spread seasonally starts to narrow from here.
Feeder averages rise
There is still a large spread in feeder cattle prices, with quality and auction numbers contributing to the gap.
Strong demand helped prices rise.
Light steer calves 300-600 pounds rose $2-$2.50 and heifer calves 300-600 rose 25 cents-$1.75, Canfax said.
Steers 600-800 lb. rose $3.75-$4.25 and heifers 600-800 lb. were up $1-$1.75.
Feeders 800-900 lb. and heavier rose $2.50-$3.75 and heifers in the same class climbed $3-$3.50.
Alberta auction market volumes dropped 13 percent to 19,938 head. That was down 14 percent from a year ago.
D1, 2 cows were steady to 25 cents lower to average $35.67 and butcher bulls gained $1 to average $34.65.
Light offerings will continue into the summer with mixed quality available, said Canfax.
Quality cattle will bring a premium but the strong Canadian dollar will deter U.S. buyers.
Feeder cattle exports to the U.S. for the week ending May 20 totalled 3,013.
Stock bred cows in central and northern Alberta traded lower at $950-$1,450 and plain animals fetched $450-$900.
Bred heifers in northern Alberta were $700-$900, plain types $500-$600.
Cow-calf pairs rose to $1,050-$1,550 and plain types $650-$1,000.
Hogs dip lower
Negative packer margins and weak demand pressured U.S. cash hog prices lower last week.
The composite pork carcass cut-out value fell for most of the week but recovered to $70.21 US on May 26, up from $69.20 May 19.
The Iowa-southern Minnesota live cash price for hogs delivered to plants edged lower to $49 May 26, down from $50 May 19.
Federal slaughter in the U.S. was estimated at 1.92 million, down from 1.95 million the week before.
Canadian weaner-feeder exports to the U.S. are running about 15 percent higher than last year at the same time. Slaughter hog exports are up three percent from last year at the same time.
Sheep fall
Ontario Stockyards reported 1,373 sheep and lambs and 119 goats traded last week. All classes of lambs were under extreme pressure at prices $10 cwt. lower. Sheep sold $5-$7 cwt. lower. Goats held firm.
Bison prices steady
Saskatchewan Bison Association said the U.S. Department of Agriculture’s weighted average price for hot hanging bison bulls younger than 30 months is $179.40 US per cwt.
Canadian prices for quality bison bull carcasses younger than 30 months are $1.70-$1.90 per lb. with most sales at more than $1.77.
