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.
Fed market weakens
The week ending Oct. 17 saw lower prices and very light trade on the western Canadian fed market.
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Alberta fed steer prices were down by $2.17 per hundredweight to close the week at $302.09 per cwt. Fed heifer prices ended the week at $299.94 per cwt., down $0.72 per cwt. from the previous week.
Dressed sales were in the range of $505-$508 per cwt. delivered, and cattle were scheduled for delivery from mid-November to early December.
One major packer was not bidding on the cash market for the third consecutive week, creating limited competition.
On the other hand, interest from U.S. packers was supportive, with light volumes of western Canadian fed cattle trading across the border and priced off the five-area average.
The Alberta fed cash-to-futures dropped from -23.40 to -38.60, which was the weakest cash-to-futures basis seen since the summer of 2004.
Trade didn’t pick up in Ontario until later in the week, but once it did, dressed sales were steady with the week before at $520 per cwt. delivered. Cattle were scheduled for delivery in the next week or two.
On average, Ontario fed prices have been trading at a premium of $13 per cwt. (live) against the Alberta market since early July. Often, this price premium will narrow in the fall.
Non-fed prices face seasonal pressure
The non-fed market was softer all over during the week ending Oct. 17, with reports of at least one packer off the cow market for the week.
Alberta D2 and D3 cows sold at commercial auction marts brought $2-$3 per cwt. below the previous week’s prices, with signs of seasonal pressure.
Feeder cow prices were down by $9 per cwt., and butcher bull prices weakened by $5 per cwt.
The railgrade market was down $18 per cwt., falling in the range of $410-$420 per cwt.
The non-fed market in Ontario seems to be more in step with seasonal trends and has been slowly moving lower since the middle of August.
D2 cow prices were steady with the previous week, and D3 cows were up by $3 per cwt.
Beef cow sale volumes are generally higher in June and late October into early November in Ontario. However, dairy cow volumes tend to increase between October and January, and there are significantly more of these females in the province.
Feeder prices strengthen
Strong interest was noted across the feeder market during the week ending Oct. 17, with larger volumes anticipated in the next few weeks.
Canfax average feeder steer prices were $6.41 per cwt. stronger than the previous week, while average feeder heifer prices were up $11.41 per cwt.
Lightweight steer and heifer calves in the range of 300-500 pounds saw the largest rally of the week, bringing $14.99-$32.42 per cwt. more than the previous week.
Steer calves weighing 550 lb. moved within $2.40 per cwt. of the record-high prices set a month earlier. Similar-weight heifer calves were $6.16 per cwt. shy of their record highs.
Alberta 850-lb. steers traded at a premium of $24.37 per cwt. to the U.S. market, making this their highest premium of the year.
Alberta auction volumes were 51,823 head, 27 per cent below the five-year average. Auction volumes have been below the five-year average in 11 of the past 12 weeks.
Canadian feeder cattle exports to the United States for the week ending Oct. 4 were 2,355 head. This was 40 per cent below last year’s volumes.
Year-to-date exports were 116,703 head, which was two per cent below 2024’s levels.
Cutouts move sideways
U.S. cut-out prices moved sideways during the week ending Oct. 17, closing slightly above the lows set this summer.
Choice prices were getting close to the $361 per cwt. mark, while Select was nearing $341 per cwt.
Throughout October, Choice has been in the range of $362-$368 per cwt., and Select has been in the $343-351 per cwt. range.
The Choice-to-Select spread counter-seasonally narrowed to $17 per cwt., which was below last year’s spread and the five-year average.
