STEERS PRICES DIP
The Canfax weighted average steer price fell 19 cents to $104.08 per hundredweight last week and heifers edged seven cents lower to average $103.35.
Total sales volume remained light at 13,014 head.
Packers have been disciplined buyers, reducing kill rather than chasing cattle prices higher.
Feedlots have slowed their marketing but remain current. Cold weather has slowed cattle performance. Carcass weights are almost 20 pounds lighter than last year.
Year to date exports to the United States are down 23 percent at 68,119 head. The strong loonie is keeping a lid on the cattle market.
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COW PRICES RISE
D1, D2 cows rose 43 cents per cwt. to average $70.02. D3 cows climbed $1.67 to $61.50.
Rail cow prices were $132-$135 per cwt. Butcher bulls climbed to average $80.33.
Non-fed cattle exports so far this year total 30,527 head, down 31 percent.
FEEDER CATTLE RETREAT
The Canfax average steer price fell 36 cents per cwt. and the heifer average fell $1.73.
However, prices were mixed depending on weight class.
Steers 400-500 pounds rose $1.60 and 600-900 lb. were mostly steady.
Steers 300-400 lb. fell $2.50 while heifers dropped $3.80.
Heifers 500-800 lb. were 84 cents-$2.10 lower.
Steers and heifers 900 lb. and heavier were $1.60-$1.80 lower.
Despite frigid weather, auction volumes were reasonable, with regions of southern Alberta accounting for most of the marketings of 30,285, down 13 percent from the previous week.
Marketings are down 30 percent so far this year. Feeder exports to the U.S. Department of Agriculture are down 36 percent.
Uncertainty in global affairs is adding caution to the market, but tight-e ning cattle supplies should limit downward pressure.
CANADIAN, U.S. BEEF DIVERGE
U.S. Choice cutouts closed March 3 at $172.88 US per cwt., up $2.52. Select surged $2.57 to close at $172.38.
Weekly Canadian slaughter to Feb. 26 was 48,739 head, down from 54,906 the previous week.
Year to date slaughter is 441,581, down seven percent.
AAA cutouts fell 88 cents to $166.14 per cwt. AA fell 87 cents to $165.60.
Montreal wholesale prices were steady at $192-$194 per cwt.
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.
