This cattle market information is selected from the weekly report from
Canfax, a division of the Canadian Cattlemen’s Association. More market
information, analysis and statistics are available by becoming a Canfax
subscriber by calling 403-275-5110 or at www.canfax.ca.
Fed cattle down
Packers have good supply and were not aggressive buyers.
The
Canfax weighted average price on steers last week was $82.07 per
hundredweight, down $2.41 from the previous week while heifers were
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$81.58, down $2.09.
Dressed prices in moderate trade Sept. 9 were $4 lower than the previous week.
Sales volume fell 27 from the week before to about 18,500 head.
The low bids caused many feedlots to pass entire show lists, leading to 15 percent of the cattle offered being carried over.
The cash to futures basis weakened for the third week in a row to $12.03 under, compared to $11.24 under the previous week.
The loonie appreciated against the American dollar, hampering Canadian exports.
Fed
cattle exports for the week ending Aug. 29 dropped 14 percent from the
week before to 8,983. That was down 30 percent from last year.
Canfax
said there is downward pressure on prices because packers have good
supply and the loonie is strong. Market ready cattle supply will soon
tighten, partly offsetting the downward pressure.
D1, 2 cow
prices averaged $40.86, down five cents, and D3 cows averaged $35.58,
down 96 cents. Butcher bull prices fell $1.93 to average $50.13.
Beef cutouts weaker
U.S. Choice cutouts fell 54 cents to close at $141.95 US and Select was down 98 cents to $133.96.
Canadian
AAA cutouts the week of Sept. 4 were $1.54 Cdn lower than the previous
week and were $19.80 or 11 percent lower than last year.
AA cutouts fell $1.28 from the previous week and were $16.30 or 10 percent lower than last year.
Calgary wholesale market prices were not available. Montreal rose $1 to $177.
The Alberta live steer price as a percent of AAA cutout was just under 54 percent, steady with the previous week.
Feeder volume drops
Soft prices and the demands of harvest caused fewer feeders to go to market last week.
Auction market volume dropped 28 percent to 38,102 head. That was 30 percent lower than last year.
Price averages fell $2.16 per cwt. for steers and $1.15 for heifers.
Feeder
cattle exports to the U.S. for the week ending Aug. 28 were 1,763 head
compared to 1,413 the week before and 9,045 last year.
Auction market volumes may not pick up until mid-October. Quality will be a large factor for feeders at auction, Canfax said.
Bred
cattle offerings were too few to quote. Many producers are likely
waiting for calves to add weight before bringing the cows to town.
Cattle on feed report
The Canfax cattle on feed report showed 631,415 head in feedlots in Alberta and Saskatchewan Sept. 1.
That was down eight percent from last year at the same time.
Placements in August totaled 175,322, down 10 percent from the previous year.
Marketings in August were 177,131, up five percent from the previous year.
Other disappearance totalled 10,307, an increase of one percent.
