FED PRICES LOWER
Fed cattle cash prices dropped sharply from the previous week’s near-record levels.
Cattle futures markets were spooked by developments in the European debt crisis. A good market-ready supply in the United States relative to demand weighed on cash prices, as did weaker beef prices. A slightly stronger loonie early in the week pushed Canadian prices up.
Canfax said fed steers averaged $115.46 per hundredweight on the week, down $4.32, and heifers averaged 115.75, down $4.23.
Rail trade was $196 delivered.
Read Also
Manitoba beekeepers battle for survival
Honeybee colony losses have hit 43 per cent, making 2025 the latest in a string of poor bee survival years for Manitoba’s honey producers
Sale volume was 15,432 head, down six percent from the previous week.
Fed prices will likely fall now that holiday beef buying is winding down and ample fed supplies are expected in the coming weeks.
COWS RISE
Canadian cow slaughter volumes exceeded 12,000 head for the fourth consecutive week.
Non-fed volumes are beginning to tighten but packers have been active at bred sales, buying many mature or blemished cows on offer.
D1, D2 cows were $61-$74 to average $67.05 per cwt., up 77 cents.
D3 cows traded mostly steady at $52-$65 .
Rail grade rose $1 to $127-$132.
Butcher bull quality is mixed. Higher yielding bulls are in strong demand with prices up to $86 per cwt.
FEEDERS LOWER
The Canfax average steer price fell 27 cents per cwt. and heifers fell 12 cents.
In a moderate offering, light steers and heifers fell 50 cents on average and mid-weight feeders traded steady.
With several bred sales highlighted in Alberta, pregnancy checked, open heifers are being assembled. Quality packages in some instances are outselling their steer counterparts.
There are wide price ranges in 300- 500 pound steer and heifer calves. Two tier pricing has developed with quality calves holding a strong price advantage over plain types.
Electronic sale volumes are limited and most feeders are trading through commercial auctions.
Auction volume for the week totalled 53,677, down 18 percent from the previous week.
The few yearlings on offer are detecting strong buyer support.
Volumes of 500-700 lb. calves have begun to ease and that should sustain price levels.
The strengthening Canadian dollar and softer cattle futures could limit increases.
BRED CATTLE TRADE
A large offering traded.
Dispersal sales of reputable herds caught the attention of out-of-Alberta buyers.
Large load lots are being assembled with strong producer interest.
Bred heifers averaged $1,435 per head and they traded as high as $1,725.
BEEF WEAKER
Beef demand is sluggish now that most holiday orders are filled.
U. S Choice and Select cutouts traded $3-$6 per cwt. lower in the week ending Dec. 9 on moderate demand and moderate to heavy offering.
Weekly Canadian cut-out values to Dec. 2 fell 50 cents-$1.
Montreal wholesale for delivery this week was anticipated $1 higher, at $210-$212 per cwt.
PRAIRIE ON-FEED REPORT
There were 1.03 million head in feedlots in Alberta and Saskatchewan Dec. 1, up six percent from a year ago but about steady with the five-year average.
Placements in November were 301,199 head, an increase of four percent over last year and the largest since 2005. Strong prices attracted cattle to auctions.
Marketings in the month were 132,220 head, a two percent increase.
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.
