Dollar weighs on cattle
The fed cattle market was $1-$1.50 per hundredweight lower last week, said Canfax.
Steers averaged $80.37 per cwt. and heifers were $81.55.
Fed steers were $78.75-$80.50 per cwt. and flat rail $133.85-$136.30. Fed heifers were $79-$82.25 and flat rail $133.85-$136.30.
Feedlots cleaned up the show list after weeks of carryover but were not enthusiastic about selling cattle at the lower prices.
Volume rose 13 percent from the week before with about 22,500 head sold. There were few U.S. buyers.
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Fed cattle exports totalled 13,513 for the week ending Sept. 29, up seven percent from the week before.
Canfax said feedlot offerings should be manageable in the coming weeks, which should help to maintain a steady market.
There may not be much U.S. packer interest given the strong Canadian dollar.
Beef under pressure
The beef market continues to struggle and was unable to sustain the previous week’s advances, said Canfax.
Choice cutout was down 66 cents to $146.74 US while Select cutout was $1.96 lower to $136.33. The Choice-Select spread fell to $10.41 from $9.11.
Canadian packers face building inventories on many cuts as they struggle to move product and compete with American beef.
The Calgary wholesale market for delivery this week was $2 lower at $145-$146.
Strong feeder exports
Feeder cattle prices dropped with the heaviest losses felt in calf prices. Prices seemed to stabilize near the end of the week, said Canfax.
Light steers 300-500 lb. were $4-$4.25 per cwt. lower and heifers 300-500 lb. were $6-$6.75 lower.
Steers 500-700 lb. were $2.75-$3.75 lower and heifers 500-700 lb. fell $1.25-$3.50.
Steers 700-900 lb. and heavier were $1-$1.50 lower and heifers 700-900 lb. and heavier dropped 50 cents-$1.75.
Auction market volume at 46,485 head was up 11 percent from the week before but down 28 percent from last year.
Butcher cows fell $2.75-$4 and might be under pressure again this week. Butcher bulls were down $2.25.
Feeder cattle exports totalled 17,369 head, the most his year, said Canfax.
Bred cows traded at $450-$850 and bred heifers were mostly $750-$1,010 with plain types $450-$700.
Quality cow-calf pairs were $870-$1,025.
Hogs prices dip
Hog cash prices last week fell as U.S. supplies and Canadian imports were ample, even with a roaring pace of slaughter.
Iowa-southern Minnesota hogs traded at $43 US per cwt. on Oct.5, down from $44 on Sept. 28.
The U.S. composite pork carcass cutout value closed at $60.35 on Oct.5, down from $61.01 Sept.28.
U.S. slaughter for the week was estimated at 2.32 million, compared to 2.24 million the week before and 2.15 million a year ago.
Bison report
The Canadian Bison Association said prices rose last week.
Grade A carcasses from bison bulls younger than 30 months in the desirable weight range were $1.80 to $1.95 per lb. Heifers were $1.65 to $1.90.
Rail prices for top quality, youthful, older-than 30-month bulls and heifers averaged $1.70 per lb.
Cull cows and bulls ranged from 60 to 70 cents per lb. hot hanging carcass. Bulls were 45 to 65 cents.
Check with marketers regarding large herd bulls for prices and acceptability.
Lambs steady
Beaver Hill Auction in Tofield, Alta., reported 1,210 sheep and goats traded Oct.1.
Lambs, rams and culls were steady with mid-range feeders a little softer. Good kid goats were off by $20 per cwt.
The auction recommends producers ensure their kids are heavier than 50 lb. and well fed.
Lambs lighter than 70 lb. were $120-$152 per cwt. Lambs 70 to 85 lb. were $121-$138, 86 to 105 lb. were $114-$128 and 106 lb. and heavier were $110-$122. Rams were $60-$82 per cwt. and cull ewes $48-$67.50 per cwt. Good kid goats were $140-$182.50 per cwt.
Nannies were $60-$89 per cwt. and mature billies were $141-$160.
Ontario Stockyards reported 2,333 sheep and lambs and 349 goats traded last week. Light lambs sold $10-$15 per cwt. lower, while heavy lambs dropped $5-$10. Sheep were stronger. Goats were $ 10 lower.
