The Canfax average steer price was $105.75 per hundredweight, up $2, and heifers were $105.96, up $2.91 in the week ending Feb. 4.
Cash markets in the United States strengthened because of the blizzard that halted travel.
Most trade in Canada was dressed with prices near the high end of the range.
The cash to futures basis narrowed to -$1.45 from -$2.81 the previous week.
Sales volumes totalled 13,507 head, 20 percent lower than the previous week.
Weekly fed exports to Jan. 22 were 11,301 head, up three percent from last year.
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Packers seem to be narrowing lift time on cattle, indicating plants are relatively current and inventory is moving.
Fed cattle futures rose early last week on the U.S. cattle report that showed the herd at the smallest level since 1958, but futures weakened later in the week with traders thinking that the cold and snow reduced restaurant beef consumption.
D1, D2 cows edged four cents higher to average $63.88 per cwt. D3s averaged $55.80.
Rail cows rose to $129-$133.
Butcher bulls advanced $2.27 to average $73.69.
Weekly non-fed exports to Jan. 22 totalled 4,164, down 52 percent from 2010.
Demand for feeder cattle remained constant with buyers showing keen interest in mid-weight stockers.
The weekly steer price average rose $2.03 per cwt. and heifers increased $1.75. The price charge was led by 500-600 pound steers, rising $6 to average $151.
Heifers 300-600 lb. rose $2-2.60.
Young steer calves dipped 80 cents.
Steers 600-800 lb. rose $2.20-$3.40.
Steers and heifers 800 lb. and heavier were steady.
Cold weather reduced auction volume to 27,936 head, down 11 percent.
Weekly feeder exports to Jan. 22 were 1,199 head, up 22 percent from the previous week.
Larger volumes of cattle are expected to enter the sales ring soon.
Interest in grass cattle typically adds price support in February. Strong interest should see 400-700 lb. cattle steady to slightly higher.
Short keep steers and heifers should be steady.
The U.S. snowstorm was considered negative for beef prices, with the view that a meal lost is lost forever, while supply will come, if not today, then tomorrow.
U.S. Choice cutout closed at $172.09 US per cwt. down $1.01, and Select was $170.80, down 81 cents.
Weekly Canadian slaughter to Jan. 29 was 54,683 head, down 11 percent from the previous week and down eight percent from last year.
Canadian cutout prices were unavailable. The Montreal wholesale market for delivery this week was up $2 at $192-$195 per cwt.
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.
