Fed cattle steady
Fed cattle trade looked like it would start last week stronger due to the lower Canadian dollar Aug. 14, but once the dust settled, cattle traded steady to slightly higher than the previous week, Canfax said.
Feedlots were willing sellers last week with 26,318 head sold, up 13 percent from a week earlier.
Most trade took place Aug. 15 with steers trading at $83.75-$86.60 per hundredweight, flat rail $141.50-$145 and heifers $83.25-$86.60, flat rail $141.50-$145.
Canfax said the futures board was lower Aug. 16 due to uncertainty in the global market and prices softened a bit from the Aug. 15 range. Early in the morning prices were $83.75-$86 for both steers and heifers, but by Aug.16, afternoon trade was $140.85-$141.70.
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There was some U.S. buyer interest last week, but most cattle were traded to local packers. Fed cattle exports for the week ending Aug. 11 were 11,468 head, steady with the previous week.
Feedlots look to be in good shape heading into this week with the show list likely steady to smaller, said Canfax. With futures recovering after Aug. 16’s upset, prices should open up steady.
Beef trade slows
U.S. cutouts were flat last week with Choice at $144.39, up 48 cents and Select at $138.77, up 28 cents. The Choice-Select spread widened slightly last week to $5.62. Beef movement was slow, down 12 percent from the previous week.
Canadian cutouts for the beginning of August were lower with AAA $155.81, down $4.09 and Select at $155.40, down $3.48. The Canadian kill was 53,542 head. Average steer carcass weights rose nine lb. from the previous week to 843 lb. and compared to the same week last year are down six lb, Canfax said.
Canada and the United States both noted good to moderate demand for coarse ground product last week. Calgary wholesale price for this week’s delivery is $149-$153, up $1.
Feeder market active
For the week ending Aug. 17, there was active trade through auction markets last week with volumes 91 percent larger than the previous week and eight percent larger than last year at 30,603 head. Year-to-date Alberta auction market volumes are 983,032 head, up two percent from last year.
Good demand for heavy feeder cattle saw prices increase again last week. Steers 800-900 lb. and heavier were up $2.25-$3 and heifers 800-900 lb. and heavier were up $1.75-$3.50. Steer calves 300-500 lb. were up $1.75-$4.50 and heifer calves 300-500 lb. were down $1.25-$3.75.
Steers 500-700 lb. were down 50 cents to $2 and heifers 500-700 lb. were down 75 cents to $1.75. Steers 700-800 lb. were up $1.75 and heifers 700-800 lb. were up $2.05.
Feeder cattle exports for the week ending Aug. 11 were 4,878 head, up 46 percent from the previous week and year to date 233,185 head was up 19 percent from last year. Butcher cows were steady to 75 cents higher this week with prices appearing to soften at the end of the week. Butcher bulls were down 25 cents.
Canfax reported that the fall run is kicking into high gear with large offerings on both the TEAM and satellite sales. Look for good local and U.S. buyer interest, especially with the bumper crop that the U.S. is expecting. Feeders should trade steady to higher this week. Butcher cows and bulls may be under some pressure this week.
There were limited offerings on stockers with prices lower than the previous week. Bred cows and heifers traded $500-$725. Cow-calf pairs were the bulk of the trade at $875-$1,150 and plain types were $600-$800.
Hog prices fall
Reduced slaughter numbers and poor plant margins early in the week placed downward pressure on hog prices. The supply of slaughter hogs was plentiful and ample sales meant slaughter plants had plenty of hogs to meet their slaughter demands.
Iowa-southern Minnesota hogs traded at $51.50 US per hundredweight Aug. 17, down from $55 Aug. 10.
Over the same period, the U.S. composite pork carcass cut-out value rose to $73.13 from $71.37 a week earlier.
The total U.S. slaughter for the week was estimated at 1.99 million, compared to 2.01 million the week before and 1.96 million a year ago.
Bison up slightly
Bison prices were steady to slightly higher as supplies were tight last week. Cow sales were volatile, especially as sale numbers increased.
Grade A bull carcasses in the desirable weight range sold $1.80-$1.85 per lb. while heifers were steady at $1.60-$1.70 per lb.
Rail prices for top quality youthful older-than 30-month bulls and heifers averaged $145, with sales up to $160. Cull cow prices ranged from a low of 40 cents to 60 cents hot hanging carcass.
Lamb prices up
Ontario Stockyards reported 1,743 sheep and lambs and 132 goats traded in the week ending Aug. 13.
Lambs sold slightly higher at $155-$190 cwt. and sheep and goats were firm. Beaver Hill Auction in Tofield, Alta., reported 1,284 sheep and 412 goats traded Aug. 13. Demand was excellent for all types and weights of grain finished animals.
Lambs lighter than 70 lb. were $132-$182.50 per cwt.
Lambs 70 to 85 lb. were $138-$165, 86 to 105 lb. were $131-$153 and 105 lb. and heavier were $125-$139.
Rams were $60-$94 per cwt. and cull ewes $52-$74 per cwt. Bred ewes were $90-$120 per head and families were $120-$165 per unit.
Good kid goats were $170-$215.50 per cwt.
Nannies were $55-$95 per cwt. and mature billies were $145-$207.50.
