The Canfax weighted average steer price was $90.02 per hundredweight, up 86 cents, and heifers averaged $89.48, up 96 cents, for the week ending Oct. 1.
Some large lots of cattle were offered and commanded a 50 cents dressed premium.
Rail sales were generally $148.85- $149.85 per cwt.
Regular weekly contract cattle continue to head south but U.S. interest in Canadian cash cattle is generally soft.
The better prices attracted more interest and Alberta sale volumes rose 52 percent to 25,186 head. The extra sales made feedlots current in their marketing, but also provided packers with good supply.
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The cash-to-futures basis narrowed to -$9.54 from -$10.23.
Although historically fed cattle prices are lower in October, an anticipated tighter market-ready supply moving forward may see a stronger market.
COW PRICES RISE
D1, D2 cows were $50-$61 to average $55.20 per cwt., up 54 cents
Rail cows traded higher and ranged from $108-$112 per cwt.
D3 cow ranged from $40-$53 to average $48.46, down $1.32.
Butcher bulls were $60-$75 to average $67.47.
Prices generally should hold steady until producers can get out of the combine and start gathering cows.
FEEDERS MIXED
The feeder market is static with harvest in full swing, Weekly price oscillations are moderate and quality driven.
Quality stocker steer calves rose $2-$2.50 per cwt. Stocker heifers fell.
Yearling steers saw good demand and firm prices while yearling heifers traded steady to lower.
On average, steers were almost $1 higher while heifers dropped $1.50.
Weekly auction volume dropped 13 percent to 36,352 head. That was 16 percent lower than last year.
Moderate auction volumes will likely continue for the next couple of weeks with harvest now a priority.
Special calf sales and pre-sorts are on the calendar, which should hold auction volumes close to year ago levels.
Price spreads are wide but quality feeders should be steady.
BEEF LOWER
U.S. Choice cutout closed at $155.22 US per cwt., down $2.76 from the week before but $18.97 higher than last year.
Select was $146.99, down $2.81 but $15.91 higher than last year.
Weekly Canadian slaughter to Sept. 25 rose 13 percent to 64,909. Cut-out values for the week were not available.
Compared to competing meats, beef is attractively priced, with average retail margins.
The Montreal wholesale market for delivery this week was steady at $181- $183.
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.
