Fed cattle up
Stronger cattle futures, storms in the U.S. that drove American cash prices higher and tighter beef supply lifted Canadian fed cattle prices.
For the week, steers were $78.15-$80 per hundredweight live to average $79.23, up $1.90, and heifers were $78.15-$80.75 to average $79.69, up $2.15.
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On the rail, steers were $131-$134.85 and heifers were also $131-$134.85.
The cash to cash basis weakened to $12.64 under from $12.35 under.
Weekly Alberta slaughter to Feb. 6 totalled 36,279 head, down 23 percent from the week before and 12 percent down from last year.
Weekly fed exports to the U.S. to Jan. 30 were 11,069 head, down from 11,752 head the week before and 12,842 last year.
Cows steady
D1, D2 cows were steady, averaging $46.65 per cwt. D3 cows rose 85 cents to average $41.20.
Rail grade cows averaged $90-$94, down from $91-$95 the previous week.
Butcher bulls rose $3.10 to average $57.95.
U.S. beef up
U.S. Choice cutouts rose 46 cents to $139.17 US per cwt. Select climbed $1.89 to $137.99.
In Canada, AA chucks and hips should see some price bounce into February but AAA middle cuts will struggle.
The Montreal wholesale price for delivery this week was steady at $155-$161.
Feeders rise
Feeder prices rallied despite a 10 percent increase in auction volumes as feed supplies tighten.
Steers averaged $2.45 per cwt. higher and heifers rose $2.40.
Interest in spring grass cattle helped support lighter feeder prices.
Steers 300-500 pounds rose $3.50, while 500-600 lb. steers climbed $4.40, 600-700 lb. rose $1.85 and 700-800 lb. rose 85 cents.
Steers heavier than 800 lb. rose $1.35-$1.85.
Heifers 300-400 lb. climbed $1.35 and 400-500 lb. were up $2.60.
Heifers 500-600 lb. saw good buyer interest for spring grass, 700-800 lb. rose $1.25, 800-900 lb. rallied $3 and over 900 lb. rose $1.20.
Feeder exports this year stand at 5,300 head, down 85 percent from last year.
Falling barley prices have cut costs and break evens are much lower. Combined with early interest in grass cattle, feeder prices this week should be firm.
Bred cows were $500-$950 to average $776, up $72.70. Bred heifers fell to $780-$1,000 to average $887.50.
Increased supplies of bred females are expected to go to market in February due to tightening feed supplies.
Cow calf pair volume was insufficient to report.
