Steers traded from $76.75-$78.20 per hundredweight live and $126-$127.85 on the rail, while heifers traded $76.85 live and $127.35-$127.85 on the rail.
Most of the heifer trade was dressed sales, resulting in the Canfax weighted average being lower than the live price.
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Steers averaged $76.62 per cwt., down $2.20 and heifers averaged $75.87, down $2.25. The cash to cash basis weakened to $12.38 under from $9.33 under last week.
Feeders balked at the low prices and held back cattle, leading to growing show lists, even though 23,673 head sold, up 18 percent from the previous week.
Weekly fed cattle exports to the U.S. to Jan. 16 were 9,933 head, down 20 percent from last year.
With growing supply, higher prices are not in the cards but the weaker loonie lessens the blow.
Cows saw good interest from the U.S. Good young cows brought a premium.
D1, D2 cows were $36-$50.25, averaging $42.88, up 75 cents. D3 cows were $31-$42, averaging $36.84, down 20 cents.
Rail grade cows were $82-$90, up from $75-$82 the week before.
Butcher bulls were $40-$62, averaging $52.78, up $1.80.
Weekly slaughter cow and bull exports to Jan. 16 totalled 5,356 head, up 34 percent from last year.
After a strong start to the year, auction market volumes for the week dropped 24 percent to 32,018 head. That was seven percent smaller than last year.
Steers averaged 99 cents higher and heifers were $1.59 higher. The only decrease was in 300-400 pound steers, down 75 cents.
Weekly feeder exports to the U.S. to Jan. 16 totalled 1,701 head, down from 7,396 head last year.
The weaker fed market could force feeders down this week.
The weaker loonie also lends support. In a moderate offering, bred cows were $400-$875 to average $643.44, down $50. Bred heifers were $450-$770 to average $633.63.
U.S. Choice cutouts closed at $140.05 US per cwt., down $3.83 and down $3.72 from last year. Select closed at $136.69, down $3.11 from last week and down $2.99 last year ago.
The weekly Canadian AAA cutout to Jan. 22 rose 99 cents to $143.98, but down $32.43 from last year. AA cutout rose $2.04 to $145.20, but down $31.55 from last year.
The Montreal wholesale for delivery this week was steady at $163-$165.
