The Canfax weighted average steer price for the week ending May 13 was $91.80 per hundredweight, 20 cents higher than the week before. Heifers traded 40 cents higher to average $91.31 per cwt.Sales to Canadian buyers increased, but American interest eased as their captive supply grew.Sales volume fell two percent to 23,150 head.The cash to futures basis narrowed to -$5.43 from -$10.30 the previous week, when it might have been affected by confusion in the stock market.Weekly fed exports to May 1 were up two percent at 11,224 head. That was eight percent higher than last year.North American market-ready fed supplies are tight. In Alberta, there is a $2 per cwt. spread between long fed yearlings and light calves, indicating feedlots are current. Delivery dates are now shorter.The cow market was again hot with trade from $51-$69, averaging $60.01, up $3. D3 cows averaged $53.78, up $2.20.Rail grade cows were $118-$120.Butcher bulls were $60-$80 to average $70.70, up $1.95.Weekly cow slaughter to May 8 in Alberta was 6,057 head compared to 6,411 head from a year ago.Weekly non-fed exports to May 1 were 3,591 head, down from 3,677 head the previous week and 4,455 head last year.Improved prospects for grass growth must have been on producers’ minds because feeder prices and auction volumes rose.Steers 400-600 pounds were 90 cents-$2 lower, while 700-900 lb. increased $1-$1.70. Overall steers averaged 47 cents higher.Good demand pushed heifer prices 90 cents-$3 higher. Overall, heifers averaged $1.95 higher.Auction market volume rose 27 percent to 31,724 head. Volume is up eight percent so far this year.Weekly feeder exports to May 1 were 10,984 head, up from 10,652 the week before and 7,206 last year.Auction volumes should seasonally decline as producers focus on seeding. That might support prices, but feedlot demand might be down until pens dry out.Interest in cow-calf pairs is reflecting the quality of the calves at foot. The week’s prices were $900-$1,460, averaging $1,019, up $150.A light offering of bred cows fetched $650-$900, averaging $762.50, down $49.Bred cow and pair sales might taper off in coming weeks.U.S. beef cutouts weakened with Choice down 90 cents US to close at $169.79 and Select down $1.97 to close at $166.16.Retailers are now mostly supplied for the Memorial Day weekend. The market is wondering how consumers will react to higher beef prices. Consumer confidence is reviving, but unemployment remains high in the United States.Weekly Canadian slaughter to May 8 rose 11 percent to 70,670 head.Canadian AAA cutouts to May 8 were $1.31 Cdn higher at $176.80 per cwt. but $8.02 lower than last year.AA cutouts were $2.57 higher at $175.54 but down $2.49 from last year.Retail beef margins are average, but North American packer margins are good.Firm trim prices are supporting the cutout.The Montreal wholesale market for delivery this week fell to $176-$178.There were 1,027,532 head in Alberta and Saskatchewan feedlots May 1, up 10 percent from last year.Placements in April totaled 155,055, up 19 percent from last year but still shy of the five-year average of 160,000.Marketings in April totaled 147,967, also up 19 percent.The number of steers and heifers killed domestically or exported for slaughter in April totalled 204,478 head, up six percent from last year.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.
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