The stronger loonie and weaker fed cattle futures pressured cash prices lower.
The Canfax weighted average steer price for the week ending Sept. 3 was $90.33 per hundredweight, $1.06 lower, and heifers fell $1.51 to average $89.60.
Dressed prices were $2.50 per cwt. lower at $150.50 to $150.85 .
There was little U.S. interest as packers there have good inventory.
Sales totalled 20,196 head, down 27 percent. The cash to futures basis widened to -$13.52 from -$12.77.
Canfax anticipates seasonally weaker beef demand but market ready supply might be lower than expected.
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COW PRICES DOWN
D1, D2 cows ranged $48-$65 to average $57.61, down $2.87 cents. The price is $16.70 higher than last year.
Dressed prices were $2 higher at the end of the week with a range of $112- $116.
D3 cows ranged $42-$58 to average $50.86, down $3.29.
Butcher bulls were $60-$82 for an average of $72.98, down 41 cents.
FEEDERS CLIMB
A substantial volume of yearlings saw strong buyer interest and great prices, but few calves are going to town.
The steer average price rose $3.80 and heifers rose $1.72.
Steers and heifers 300 to 400 pounds jumped $12.17 per cwt., while 400 to 500 lb. rose $2.58.
Steers 500-600 lb. jumped almost $5 higher and 600-700 lb. steers were $2.71 higher.
Steers 700-900 lb. rose $1.84-$2.51 higher while those 900 lb. and heavier were steady.
Heifers 300-400 lb. rose almost $7 and 400-500 lb. climbed $2.60. Heifers 500-600 lb. were $1.18 higher and those heavier than 900 lb. improved by $1.08.
The tight supply of calves is expected to continue over the next two or three weeks and fuel buyer competition. Yearling volumes should trend smaller as harvest season gets fully underway.
BEEF FALLS
The U.S. Choice cutout fell to $162.91 US Sept. 2, down $1.39. Select closed at $156.75, down $1.49.
Canadian slaughter for the week ending Aug. 28 was 61,156, down 4.4 percent from the week before, and down two percent from the same week last year.
The Montreal wholesale price for delivery this week fell $2 to $182 to $184.
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.
