Fed prices dip
Fed steers traded 50 cents lower to average $84.20 per hundredweight last week and heifers were $1.25 lower to average $83.73, said Canfax.
Even with the softer market, feedlots were willing sellers but there was some carryover into this week.
Due to the usual summer slowdown, packers did not reach for cattle.
Alberta prices July 19 were steers $83.25-$85.15 per cwt. and flat rail $139.95-$141.50 while heifers were $83.25-$83.45. There was talk that some heifers traded up to $85.
For the week ending July 14, 8,744 fed cattle were exported, up 39 percent from the previous week.
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Market-ready supply looks manageable and bigger numbers are not expected until August and September, said Canfax.
Beef market wilts
The summer heat is putting the blues in the beef market in Canada and the United States.
Canadian cutouts for the end of June were lower with AAA down by $2.54 per cwt. to $169.53 and AA down $4.10 at $161.80.
U.S. cutouts didn’t slide as much this week with Choice down 93 cents at $142.26 US and Select down 31 cents at $136.67.
The Choice-Select spread narrowed this week to $5.59.
The Calgary wholesale price for delivery this week was $151-$152 Cdn.
Heavy steer bids strong
Heavy feeder steers and butcher cows dominated auction market sales with solid prices and good buyer depth.
Steers 800-900 lb. and heavier were up $3.25-$3.75.
Steer calves 300-500 lb. dropped $2-$3, and grass steers 600-800 lb. were steady to 25 cents lower.
Feeder heifers 800-900 lb. and heavier were steady to $2.25 lower and heifers 600-800 lb. were 50 cents to $3.50 lower. Heifer calves 300-500 lb. were 25 cents to $1.25 lower.
Alberta auction market volume at 10,827 head was even with the week before, but 50 percent lower than last year.
Year to date auction market volume is up four percent at 907,045 head.
Butcher cows were up $2.50 and butcher bulls rose 25 cents.
With good pasture conditions in most of the West, few grass cattle will be offered.
Cow trade was solid and prices are expected to hold steady to slightly higher this week, said Canfax.
In limited trade, cow-calf pairs were lower with most at $900-$1,300 and plain types $600-$850.
Bred cows and heifers traded lower at $450-$850.
Hog prices rise
U.S. packers’ margins improved thanks to stronger pork prices and they increased bids on hogs to supply an improved slaughter pace.
A heat wave could reduce deliveries so prices are expected to remain strong this week. U.S. slaughter this week is expected to be close to a record for this time of year.
Iowa-southern Minnesota hogs traded at about $52 US per cwt. July 20, up from $50.50 July 13.
The U.S. composite pork carcass cut-out value recovered to $76.24 July 20, up from $73.46 July 13.
U.S. slaughter for the week was estimated at 1.961 million, compared to 1.945 million the week before and 1.948 million a year ago.
Bison steady
Bison prices were steady, said the Canadian Bison Association.
Grade A carcasses from bison bulls younger than 30 months in the desirable weight range in Canada were $1.80 Cdn per lb. with sales to $1.85. Heifers were $1.60-$1.65.
Rail prices for top quality, youthful, older-than 30-month bulls and heifers were $125-$150 per cwt.
Cull cows were steady 45 cents per lb. hot hanging carcass.
The U.S. Department of Agriculture reported July 10 that carcasses from bulls younger than 30 months rose to an average of $189.28 US per cwt. in June. Heifers edged higher to $169.15. Cull cows fell to $119.60 per cwt.
Lambs, sheep steady
Ontario Stockyards reported 1,378 sheep and lambs and 102 goats traded last week.
Lambs and sheep sold steady and goats were $5-$8 lower.
