FED CATTLE LOWER
The Canfax weighted average steer price was $109.30 per hundredweight, down $1.69, and heifers were $109.02, down $1.77.
Sales volume fell five percent to 16,500 head from the week before. That was down 17 percent from last year.
There was significant live trade reported and almost all sales were flat bid.
The cash to futures basis widened to -$4.42 from -$3.13 the previous week.
Weekly fed export volumes to April 9 were 10,637 head, up 17 percent from the previous week but down 17 percent from last year.
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Exports are down 35 percent so far this year.
A large supply of market-ready calves is expected to hit the market soon, pressuring prices lower.
The strong Canadian dollar is also weighing on prices.
COW PRICES MIXED
D1, D2 cow prices fell 84 cents to average $79.61 per cwt.
D3 cows rose $2.50 to average $70.75.
Rail cow prices were firm at $148-$153 per cwt.
Butcher bulls rose $1.02 to average $89.25.
Weekly cow slaughter to April 16 rose five percent.
Weekly non-fed exports to April 9 were 3,807, steady with the previous week.
FEEDERS WEAKEN
Wet pens and the high cost of gain continue to pressure feeder prices.
The 300-500 pound steer average price has generally fallen $11-$12 over the past four weeks, while heifers fell $7-$9.
Light calf prices fell while mid-weight steers and heifers were mostly steady in the week ending April 21.
The Canfax average steer price was $2.50 per cwt. lower while heifers fell $1.47.
Steers 600-800 lb. fell $1-$2 and heifers 500-900 lb. were mostly steady.
Steers and heifers 900 lb. and heavier fell $1.
Due to the Easter holiday, April 20 trade will be included in next week’s report.
Auction volumes totalled 16,982 in the holiday-shortened week, down 49 percent from the previous week.
Weekly feeder exports to April 9 totalled 2,631, down 16 percent from the previous week.
They are down 49 percent so far this year.
With feeder volumes seasonally beginning to ease, competition for bunk replacements and heavier grass cattle should hold prices steady.
Quality is an issue for lighter cattle.
BEEF FALLS
U.S. Choice cutouts closed April 21 at $186.36 US per cwt., down $1.60, and Select was $181.92, down $2.41.
Weekly Canadian slaughter to April 16 was up nine percent from the previous week at 56,719 head.
That was down six percent from last year.
The Montreal wholesale market for deliver this week was up $1 at $202-$204 Cdn.
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U.S. CATTLE ON FEED
The U.S. Department of Agriculture’s April 21 cattle on feed report was mildly bullish, showing larger-than- expected cattle sales in March.
Marketings were 1.988 million head, up 4.5 percent from a year ago. It was the largest volume for that month since 2000 and the second largest on record.
Feedlot supply was 11.277 million head April 1, up five percent from a year ago.
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.
