Canadian fed cattle prices rose despite a volatile futures market and the beginning of the seasonal decline in U.S. cash cattle markets.
The Canfax weighted average steer price was $103.60 per hundredweight, up $1.68, and heifers were $103.05, up $1.63.
The bulk of the trade was dressed. The Alberta rail price range for steers was $172.75-$175.85 per cwt. and $174.50-$175.85 for heifers.
Sales volumes totalled 17,890, up three from the previous week.
The futures basis narrowed to -$2.81 from -$6.55 the previous week.
The cash basis narrowed to 30 cents per cwt. to be positive for the first time since January 2002.
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Weekly fed exports to Jan. 15 were 10,646, up 14 percent from a year ago. Exports are up one percent this year.
Feedlots marketings are current. Packers are losing money but show interest in available cash cattle.
Cow price rises
D1, D2 cows averaged $63.88, up 79 cents, and D3 cows edged higher to average $55.80.
Rail cows traded from $124-$129. Butcher bulls were $60-$80 to average $71.42.
Weekly non-fed slaughter exports to Jan. 15 rose 52 percent from the previous week. So far, non-fed exports are down 24 percent this year.
Feeder volume, price up
Better weather and road conditions allowed Alberta producers to get feeder animals to town.
Auction volume was 31,357, double the previous week.
There was good buyer interest and the steer average price rose $3.50 per cwt.
Heifers climbed more than $3. Heifers 300-400 pounds rose $4.
A tight supply of 400-700 lb. steers forced prices to soar $5 to $8 higher. Heifers 500-700 lb. rose $4.50-$5.
The slipping April live cattle futures caused lower interest in 800-900 lb. steers but prices rose $1-$1.50.
Heifers 800-900 lb. rose 75 cents.
Weekly feeder exports to Jan. 15 were 982 head, down 42 percent from last year. Exports are down 33 percent so far this year.
Strong feeder demand should continue as competition for bunk replacements and grass cattle heats up.
Beef price rises
U.S. Choice cut-out values closed Jan. 27 at $173.10 US per cwt., up 29 cents, and Select closed at $171.61, up 75 cents.
Weekly Canadian slaughter to Jan. 22 was 61,167 head. Slaughter volume is down seven percent this year.
AAA cutouts to Jan. 22 were $164.75 Cdn per cwt., up $5.73, and AA were $160.65, up $3.25. The Montreal wholesale market for delivery this week was steady at $190 to $193.
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.
