Fed cattle prices ended the week firm to higher because of interest from the United States and a weaker Canadian dollar.There was a large amount of captive supply, leaving one packer to be more aggressive.Sending cattle to the U.S. still seems a good option for many feedlots, with pick-up times one to two weeks out compared to Alberta packers that will pick up in early June.However, many cattle sold are still green and having the pick-up times four weeks out could be favourable for some feedlots, allowing cattle to dry out and add a few more pounds.For the week, steers were $88.45-$92 per hundredweight live and $149.50-$152.85 per cwt. on the rail.The average was $91.59 per cwt., up $1.15.Heifer trade was $88.75-$91.80 per cwt. live and $149.50-$152.85 per cwt. on the rail, averaging $90.94 per cwt., up 45 cents.The weaker loonie caused the cash to cash basis to weaken to -$13.64 from -$8.93. Sales totalled 25,999 head, up 53 percent from the week before, with some feedlots overselling their show lists.Weekly Alberta slaughter to May 1 was 46,716 head, down 16 percent from the week before but four percent larger than the same week last year.Weekly fed cattle exports to April 24 were 10,991 head compared to 11,927 the previous week and 10,818 last year.D1, D2 cows traded from $48-$63.50 per cwt. to average $57 per cwt., $1.80 lower. The D3 average was $51.57 per cwt. Rail grade cows were $110-$115.Average butcher bull prices were firm at $57-$81 to average $68.74.Weekly non-fed exports to the U.S. to April 24 were down eight percent from the previous week. Non-fed slaughter prices after recent moisture should continue firm.Weekly auction volume began its seasonal decline, plunging 49 percent to 25,030 head. That was 11 percent lower than last year.Steer prices averaged 11 cents per cwt. higher while heifers dropped 76 cents.With better forage conditions and decent Chicago futures for the first quarter of 2011, 300-500 pound stocker steer prices rose $2-$3.25.Muddy feedlot conditions have resulted in reduced feeder placements and mid-weight steer prices were pressured lower.Steers 500-900 lb. fell 80 cents-$1.80, while steers heavier than 900 lb. held up fairly well thanks to American interest.Heifers 300-400 lb. fell $2.90, illustrating inconsistency in quality and lack of volume in some weight ranges. Heifers 400-500 lb. were steady while 500-800 lb. slipped 30-70 cents. Heifers 800-900 lb. rose $1.15, while those heavier slipped $2.15.Weekly feeder exports to April 24 were 10,652 head, down eight percent from the week before and 48 percent lower than last year.Tighter local feeder supply and renewed interest in grass cattle should steady prices on stockers. Demand for heavy feeders should firm as pen conditions improve and strong U.S. buyer interest continues.Recent moisture caused interest in bred cows to improve, with prices ranging from $650-$1,040 to average $812, up $20. Bred heifer volumes were insufficient to report.Cow-calf pairs held mostly steady to range from $700-$1,350.U.S. trim prices rose, but prices have likely reached their peak.U.S. Choice cutouts closed at $170.69 US, up 73 cents from the previous week.The Select cutout closed at $168.13, up $1.11. Canadian retailers are ready for grilling season, but the cold wet weather is not supporting consumer interest.The Montreal wholesale price for delivery this week was steady at $178-$180 Cdn.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.
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