Fed cattle mostly steady
In the fed cattle market, the steers average fell 54 cents per hundredweight to $81.97 with trade from $80-$82.25 live and $137-$138.80 on the rail, Canfax said.
The heifer average was steady at $82.44 per cwt. with trade from $81.70-$83.25 live and $137-$138.80 on the rail.
Volumes were steady with about 21,500 head sold. There was a small carry over into this week.
Canfax said some producers resisted selling at this level or offered only part of their show lists in anticipation of a correction to the market, while others sold their whole show lists, given the negative feeding margins.
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Western Canadian packer interest was mixed. Some cattle went to the United States.
Fed cattle exports for the week ending Sept. 22 totalled 12,668 head, which was the smallest weekly volume in the past five weeks.
With the stronger U.S. market, Canadian producers will want higher prices this week but poor packer demand and large offerings are expected to limit the upside.
Beef rises
Packers were able to push beef prices higher, Canfax said.
In the United States, Choice cutout increased $2.44 US to $147.40 while Select rose $1.80 to $138.29.
This widened the Choice-Select spread slightly to $9.11 from $8.47.
Canadian boxed beef prices for the week ending Sept. 14 fell sharply to about $158 Cdn.
Imports of hips and chucks continue to pressure the Canadian market.
The Calgary wholesale market was steady at $147 to $148 per cwt. for delivery this week.
Feeders under pressure
Feeder prices fell under pressure from the Canadian dollar and rising feed grain prices, Canfax said.
Even with the high loonie, the Canada-U.S. basis is relatively wide, which should encourage continued exports.
Steers and heifers 300-600 pounds were down $4.50-$7.75 per cwt. and 600-800 lb. steers and heifers were $6-$8.25 lower.
Steers and heifers 800-900 lb. and heavier were $2.75-$5.25 lower.
Alberta auction market volume of 41,980 head fell 21 percent from the week before and was eight percent smaller than last year.
Butcher cows rose $1 and butcher bulls 50 cents, but there was pressure on cows late in the week so prices may be lower this week.
Feeder cattle exports year-to-date are 30 percent above a year ago, Canfax said.
Feeder cattle exports for the week ending Sept. 22 were 13,910 head, steady with the week before.
With the high Canadian dollar and high feed grain prices, it is unlikely feeder prices will rise soon.
In limited trade, bred cows were $550-$850 and cow-calf pairs were $870-$1,025.
Hogs slide
Hog futures dropped after the U.S. Department of Agriculture reported three percent more hogs on farms than last year at the same time.
Cash prices last week fell because U.S. supplies and Canadian imports were ample. A large slaughter raised pork supply and lowered prices.
Iowa-southern Minnesota hogs traded at $44 US per cwt. on Sept. 28, down from $47.50 on Sept. 21.
The U.S. composite pork carcass cut-out value fell all week, closing at $61.01 Sept. 28, down from $65.07 Sept. 21.
U.S. slaughter for the week was estimated at 2.22 million, compared to 2.24 million the week before and 2.14 million a year ago.
Canadian pork prices have also fallen due to large supply, pressuring hog prices.
Bison report
The Canadian Bison Association said prices dipped at the top of the range by five cents.
Grade A carcasses from bison bulls younger than 30 months in the desirable weight range in Canada were $1.60 to $1.80 per lb.
Sales to the U.S. saw prices of $1.85 to $1.90.
Heifers were $1.65 in Canada and $1.75 on sales to the U.S.
Rail prices for top quality, youthful, older-than 30-month bulls and heifers averaged $1.40 per lb., with sales to $1.65.
Cull cows and bulls ranged from 45 to 65 cents per lb. hot hanging carcass. Check with marketers regarding large herd bulls for prices and acceptability.
Lambs weaken
Beaver Hill Auction in Tofield, Alta., reported 1,220 sheep and goats traded Sept. 24. Light lambs rebounded $20 per cwt. from the previous week’s drop. Other lambs fell $15.
Lambs lighter than 70 lb. were $100-$150 per cwt.
Lambs 70 to 85 lb. were $121-$136, 86 to 105 lb. were $111-$130.50 and 106 lb. and heavier were $100-$123.
Rams were steady at $45-$76 per cwt. and cull ewes $48-$67 per cwt.
Good kid goats were $170-$201 per cwt. Goats lighter than 50 lb. were $60-$100 per cwt.
Nannies were $51-$94 per cwt. and mature billies were $130-$161.
Ontario Stockyards reported 1,678 sheep and lambs and 131 goats traded last week.
Sheep, lambs and goats sold steady.
