Fed price rises
Despite a rising Canadian dollar, the Canfax average on steers rose 28 cents to $85.27 per hundredweight and heifers rose $1 to $84.58.
Alberta prices were $140.80 to $142.85 on the rail for steers and $142.50 to $142.85 for heifers.
Volume was about 20,000 head, up 15 percent from the previous week. Feedlots appear current in their marketing.
The cash to futures basis was $5.92 under compared to $7.99 under the week before.
Weekly exports dropped two percent to 19,452 head.
Canfax said that with feedlot supply tightening and inventories current, prices should improve. Barring a surge in the loonie, rail prices should climb to near $145-$146 this week.
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Beef stronger
U.S Choice cut-out values rose 86 cents to $149.77 US while Select fell six cents to $146.75, said Canfax.
The Calgary wholesale market for delivery this week was steady at $142-$143 Cdn per cwt. The Montreal wholesale market was $1 higher at $150-$151.
Canadian AAA jumped to 60 percent of all A grades in the first three weeks of February. Large supplies of AAA product are expected to keep the AAA-AA spread narrow.
Feeder volumes rise
A large volume of feeder cattle went to market last week, preventing prices from rising, said Canfax.
Most steer weight categories were steady but 400-500 pound grass type steers gained $1 per cwt.
Heifers were mostly steady with the exception of 500-600 lb. and 700-800 lb. classes trending $1 lower.
Sales volume rose 33 percent to 58,081 head, 14 percent higher than last year.
Feeder exports for the week ending Feb. 22 to the U.S. climbed nine percent to 17,401 head. That was about double the pace set last year.
Canfax expects large volumes through much of March as farmers gear up for calving and fieldwork. Prices will be under downward pressure, giving up February’s gains.
In slaughter cow trade, D1, 2 slaughter cows and butcher bulls rose $1.50 per cwt. Healthy demand will push prices $1-$2 higher by mid-March.
Hog price falls
Hog prices in the U.S. dipped as packers slightly reduced slaughter to cope with large pork supplies and weaker pork prices.
Also, market-ready hog supplies were ample. Packer margins narrowed.
Iowa-southern Minnesota cash hogs traded at $43 US per cwt., down from $44 Feb. 22.
The U.S. composite pork carcass cut-out value was $60.05 Feb. 29, down from $60.68 Feb. 22.
U.S. slaughter for the week ending March 1 was estimated at 2.19 million, down 1.8 percent from the week before but 10.7 percent higher than last year.
Bison prices mixed
The Canadian Bison Association said grade A carcasses from youthful bulls in the desirable weight range in Canada rose to $1.95-$2.10 Cdn per lb.
Heifers rose to $1.85-$2.05 per lb.
Cull cows fell to 60-70 cents and bulls dipped to 60-85 cents per lb. hot hanging carcass.
Lambs steady
Ontario Stockyards reported 1,602 sheep and lambs and 37 goats traded last week. Lambs, sheep and goats were steady.
Beaver Hill Auction in Tofield, Alta., reported 691 sheep and lambs and 169 goats traded Feb. 25. Lambs were steady to $10 stronger. Cull sheep were steady to $5 higher. Goats were steady.
Lambs lighter than 70 lb. were $118-$147 per cwt. Lambs 70 to 85 lb. were $112-$146.50, 86 to 105 lb. were $115-$132 and 106 lb. and heavier were $95-$131.
Rams were $42-$66 per cwt. Cull ewes were $30-$60 per cwt.
Good kid goats were $156-$197.50 per cwt.
Nannies were $64-$75 per cwt., bred does $130 and mature billies $101-$186.
