Fed cattle steady
After a slow start, average prices at fed cattle sales were about steady with the week before, said Canfax.
The stronger Canadian dollar hampered the impact of U.S. fed bids in Canada.
Volume was about 22,000 head, up two percent from the week before.
Alberta prices Aug. 17 saw steers bring $84.50-$86.75 per hundredweight, flat rail $141.15 and heifers $83-$85.50, flat rail $141.15.
Feedlots see yearlings
Auction market volume was up 33 percent from the week before but 23 percent below last year.
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TEAM, Nilsson Bros. and DLMS internet sales contributed 3,876 head to the total volume last week, said Canfax.
Good buyer interest and quality cattle kept prices steady to higher with calves 300-600 pounds up 75 cents-$2 and 800-900 lb. and heavier up 25 cents-$1.
Midweight steers and heifers were down 50 cents-$1.25.
A stronger butcher cow market traded $2.25 higher and butcher bulls rose 75 cents. Feeder cattle exports for the week of Aug. 12 were 1,570 head, said Canfax.
The fall run is kicking into gear with the electronic sales offering 13,000 head on Aug. 18.
Depending on fed cattle price trends, increased volumes may cause some price pressure in coming weeks, but for now, prices held because feedlots needed to fill pen space.
Butcher cow and bull trade is expected to be mixed.
A light test on stock cattle saw medium quality bred cows trade at $450-$790 and medium bred heifers trade at $550-$750, said Canfax.
Cow-calf pairs were mostly $950-$1,250, with plain types $700-$900.
Beef stronger
Canadian cutouts earlier this month were higher with AAA trading $3.44 per cwt. higher and AA trading $6.57 higher.
The beef market is slowing as summer winds down.
The Canadian kill for the holiday week was 54,019 head.
Last week’s kill may have been larger with packers planning to operate on Saturday.
The Calgary wholesale market for delivery this week was $2-$3 higher in a range of $144-$146, said Canfax.
Cutouts in the United States were strong again with Choice up $3.34 US per cwt. from the week before and up $16.95 from a year ago. Select was up $3.72 per cwt. from the week before and $13.95 from a year ago.
The U.S. Choice-Select spread has narrowed to $11.03 but is still wide compared to a year ago when it was $7.73.
Beef movement slowed 16 percent from the week before.
Hog strength surprises
American cash hog prices climbed again last week as supplies failed to match packer demand fuelled by orders for Labour Day grilling demand.
Stronger than expected pork prices were supported by good export and domestic demand. The hog market has been surprisingly strong at a time when traditionally deliveries start to rise, slaughter climbs and prices drop. Analysts speculate that the recent jump in beef prices might have caused buyers to switch to lower priced pork.
The Iowa-southern Minnesota live cash price for hogs delivered to plants climbed to $53-$54 US per cwt. Aug. 18, up from $52 Aug. 11.
The composite pork carcass cut-out value rose to $75.68 Aug. 18, up from $72.97 Aug. 11.
Federal slaughter in the U.S. was estimated at 1.97 million, up from 1.89 million the week before.
