Fed prices rise
Fed cattle prices were $1-$2 higher last week, said Canfax.
The average steer price was $1.80 per hundredweight higher at $86.48 while heifers were $1 higher at $85.41.
Fed steer prices ranged from $85 to $87.35 per cwt live and $143.50 to $144.85 on the rail, while heifers were $85 to $86 live and $143.50 to $144.30 on the rail.
About 18,000 head traded, cleaning up most showlists but some producers passed on selling in anticipation of a stronger U.S. market fuelling a better local market the following week.
The basis narrowed slightly to $9.27 under.
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Fed cattle exports totalled 10,968 two weeks ago.
Offerings should remain manageable and feedlots are current with inventory, which should strengthen their bargaining positions, said Canfax.
Add to that a higher U.S. fed market and the result should be higher bids this week.
Beef stronger
U.S. cutouts rose with Choice up $4.31 US at $144.84 and Select up $4.23 at $138.87.
The Choice-Select spread was $5.97, said Canfax.
Box movement slowed.
Packers in the U.S. raised prices to offset the higher live cattle trade.
Canadian cutouts will likely be lower due to lackluster demand and hot temperatures.
The Calgary wholesale market for delivery this week was $2 Cdn higher at $150-$153.
The week’s kill topped 63,000 head, up seven percent from last year, said Canfax.
Feeders mostly higher
The court ruling in favour of the Canadian Wheat Board monopoly on barley weakened barley futures.
Even with the optimism in the heavy feeder market the last two weeks, this likely helped push prices higher in most weight classes, said Canfax.
Light steers 400-500 lb. were $2 lower and heifers 400-500 lb. rose $1.75.
Steers 500-700 lb. were steady to $2.75 higher and heifers 500-700 lb. were 50 cents-$3 higher.
Feeder steers 800-900 lb. and heavier were $1.25-$2.50 higher and heavy heifers were steady to $2.75 higher.
Butcher cows were $1.75-$2 lower. Most of the cow trade was at $37-$47 with some sales to $49.
Butcher bulls were $1.75 lower, said Canfax.
Alberta auction market volumes at 14,803 head rose two percent from the week before, but were 19 percent smaller than last year.
For the week ending July 28, 4,871 feeder cattle were exported.
Volumes will likely start to increase as fall approaches.
Some producers appear to be offering cattle for forward delivery but that doesn’t seem to be discounting prices, said Canfax in its weekly report.
Bred cows traded lower last week on limited offerings in southern and northern Alberta at $600-$700.
Cow-calf pairs also traded lower, with most at $850-$1,220 and plain types $625-$800.
Hog prices steady
Speculation about pork sales to China continued to support the hog market.
Weaker pork prices forced packer margins into the red, but the slaughter pace was good.
Iowa-southern Minnesota hogs traded at $54 US per cwt. Aug 3, steady with July 27.
The U.S. composite pork carcass cutout value fell to $70.95 Aug. 3 from $74.40 July 27.
U.S. slaughter for the week was estimated at 1.99 million, compared to 1.98 million the week before and 1.89 million a year ago.
Bison steady
Bison prices were mostly 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 per lb. with
sales to $1.85 and heifers were $1.60-$1.70.
Rail prices for top quality, youthful, older-than 30-month bulls and heifers averaged $145, with sales to $150.
Cull cows rose to as high as 60 cents per lb. hot hanging carcass.
Lamb prices strengthen
Ontario Stockyards reported 1,463 sheep and lambs and 72 goats traded last week.
Lambs sold $5-$10 per cwt. higher and sheep and goats were firm.
