The price spread between yearlings and calves was evident. Marketed calves could stay on feed for another month but with prices eroding, feedlots opted to sell.
Packers may slow chain speed to provide these greener cattle with more days on feed.
Retailers are suffering from sticker shock. They are buying but have limited beef features.
For the week, 19,558 head sold, up 16 percent from the previous week.
Steer averages were $89.75-$90.95 per hundredweight live and $154.35-$155.85 on the rail.
The average was $91.50, down $2.12.
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Heifer trade was $89.25-$92.75 live, averaging $91.40, down $1.39. Rail grade was $154.85-$155.85.
The cash-to-cash basis weakened to -$8.50 from -$6.49 the previous week.
Weekly Alberta slaughter to April 17 was 43,129 head, up seven percent from the week before and steady with last year.
Weekly fed cattle exports to April 10 totalled 12,790 head, compared to 14,260 the previous week and 12,397 last year.
To date, fed cattle exports are up nine percent.
D1, D2 cows rose to $59.84 per cwt.
D3 cow prices averaged $47.35, down $2.
Canfax did not quote a rail grade price.
Butcher bulls rallied to average $68.15 per cwt.
This year’s exports are up 22 percent to date.
The steer price average fell 50 cents per cwt. while heifer prices rose 10 cents.
Compared to last year, however, feeders traded almost $6.50 lower.
Feeder exports are more than 60 percent lower than last year, which has increased the available domestic feeder supply despite the smaller 2009 calf crop.
Also, dryness in Alberta may have some buyers sitting on their hands.
Steers 300-500 pounds were mostly steady.
Steers from 500-700 lb. fell about $1 per cwt. while those 700-800 lb. dipped 60 cents. Steers 800-900 lb. fell $1.60 and those heavier than 900 lb. rose $1.40 due to U.S. interest.
Heifers 300-400 lb. may have had quality issues with prices 70 cents lower.
Grass type 400-600 lb. heifers rose 45 cents to $1, 600-700 lb. were steady and 700-900 lb. rose $1.80 to $3 due in part to growing interest in replacements.
Heifers heavier than 900 lb. fell $4.75.
Weekly auction volume rose three percent to 42,658 head. That was three percent lower than last year.
Sale volume to date is up seven percent from last year.
Weekly feeder exports to April 10 totalled 8,041 head, down 15 percent from the previous week and 43 percent lower than last year.
Feeder exports to date are down 62 percent from last year. But fear of dwindling U.S. feeder supply has rallied American feeder prices to near record levels and renewed American interest in buying Canadian stock.
However, dryness in Alberta could soften demand and bring grass types back to market.
Bred cows were $78 per head lower than the week before at $750 to $900.
Cow-calf pairs were $800 to $1,325, up $49 from the week before and almost $250 higher than the weekly average bred cow.
U.S. Choice cutouts rose 39 cents to close at $167.35 US per cwt. and Select rose 85 cents to $165.48.
Weekly Canadian slaughter volume to April 17 was up 10 percent at 60,454 head.
Canadian AAA cutouts were $2.68 higher than the previous week.
AA cutouts were 64 cents higher than the previous week.
Both were eight percent lower than last year.
The Montreal wholesale market for delivery this week was steady at $178 to $180.
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.
