Fed prices rise
Fed cattle prices rose by $2-$2.50 per hundredweight last week.
Most of the business was done Feb. 25 with fed steers at $86.30-$88.50 per cwt. to average $87.62 and flat rail $148-$150.
Fed heifers traded $87.85 live and $148-149.35 flat rail.
Light trade Feb. 26 saw $88.50 for steers.
Most of the cattle sold went to Alberta packers.
Sales volume totalled about 15,000 head, up one percent from the week before.
The cash-to-futures basis strengthened to $15.98 under compared to $16.86 under last week.
Read Also
Prairies have variable soil moisture conditions
The dry weather in the west was welcome for preserving grain quality and advancing harvest, but it has resulted in very dry soil moisture conditions.
Fed cattle exports totalled 11,606 head two weeks ago, down from 12,364 the previous week and down from 19,452 last year.
Canfax said packers were operating hand to mouth and price direction is uncertain.
Feedlots are current in their marketing and inventories will start to tighten in the next few weeks, which Canfax said should help to offset negative market factors, such as the weak economy.
Strong demand for D1, 2 slaughter cows drove prices $4.78 per cwt. higher to average $49.73, Canfax said. From March to early summer, marginal bred cows should have slightly more value as seedstock and slaughter cow volumes should tighten.
Butcher bulls rose $2.18 to $61.36. Slaughter cow and butcher bull supply is tight and prices should remain firm now that summer hamburger season is just around the corner.
Beef prices steady
The Calgary wholesale market for delivery this week was steady at $159-$160. Montreal was $1 higher at $168.
Byproduct prices remained steady with a range of $60-$94.
In the United States, cutouts fell with Choice down $1.48 US to $132.65 and Select down $2.47 to $131.25. Carcass weights are up and beef demand is down so beef prices are weak despite a six percent decline in slaughter so far this year.
Average weight for the week ending Feb. 14 was 789 pounds, up 12 lb. from a year earlier.
Feeder prices weaken
Feeder cattle auction volume rose 40 percent to 48,727 head. Farmers and backgrounders are unloading calves before they have to buy more expensive forage, Canfax said.
Volume so far this year is 259,628 head, up 39 percent from last year.
Steers 300-400 lb. rose $1.25 Cdn per cwt. and 400-500 lb. were mostly steady.
Steers 500-700 lb. fell 50 cents while 700-900 lb. steers fell $1.21-$1.60. Steers 900 lb. and heavier fell 64 cents.
Heifers 300-400 lb. rose $1.39 and 400-500 lb. were up 20 cents.
Heifers 700 lb. fell almost $1 and 700-800 lb. plunged $2.29. Heifers 800-900 lb. were steady but 900 lb. and heavier rose $1.19.
Exports to the U.S. two weeks ago totalled 8,327 head, down 12 percent from the previous week and 52 percent lower than last year.
Exports are down 46 percent from the same period last year.
Feeder auction volumes should be steady for the first half of March, but will tighten as non-fed numbers shrink, said Canfax.
Dwindling farm feed supplies this spring could push these cattle to auction soon. Feeder demand for grassers and U.S. exports should be able to support current prices until mid-March.
Bred cows have more value in March and April as breeding stock than as slaughter cows.
The increase in slaughter cow demand has pressured bred cow prices higher and the week’s average is $191 per head more than the same week last yea, said Canfax.
Bred cows were $650-$1,100. Bred heifers were $860-$1,050.
Hog prices lower
U.S. cash hog prices rose late last week when packer profit margins improved.
However, through most of the week prices were under severe pressure because of low pork prices, problems in the economy and the weak stock market. Analysts say the late week strength might have signaled the start of the usual seasonal rally.
Iowa-southern Minnesota cash hogs fell below $40 US midweek but battled back to $40-$41 per cwt. Feb. 27, down from $44 Feb. 20.
The U.S. pork carcass cut-out value fell to $56.35 Feb. 27 from $57 Feb. 20. U.S. federal slaughter to Feb. 28 was estimated at 2.18 million, down from 2.21 million the week before and one percent more than the year before.
Slaughter so far this year is down almost six percent from last year.
Bison prices steady
The Canadian Bison Association said A1 slaughter supplies are increasing, but prices are steady.
Grade A carcasses from youthful bulls in the desirable weight range in Canada were $2.40-$2.75 Cdn, with an estimated average of $2.45 per lb. hot hanging weight.
Heifers were $2.30-$2.60 per lb. with an average of $2.35. Cull cow and bull average rose to $1.15 per lb., with sales to $1.45. Weight, quality, age and delivery location affect final price.
Lambs steady
Ontario Stockyards reported 1,559 sheep and lambs and 107 goats traded Feb. 23. Sheep, lambs and goats sold steady.
Beaver Hill Auction in Tofield, Alta., reported 1,111 sheep and lambs and 65 goats traded Feb. 23.
Lambs lighter than 70 lb. were $140-$155 per cwt. Lambs 75-85 lb. were $130-$152, 86-105 lb. were $130-$148.50 and those heavier than 105 lb. were $134-$139.
Rams were $41-$70 per cwt. Cull ewes were $45-$56 and bred ewes were $65-$88.50. Good kid goats were $145-$180.
Nannies were $55-$75 per cwt. and mature billies were $80-$95.
