For the week ending May 21, steers were $89.35-$91.50 per hundredweight live to average $90.71, down $1.09, and $150.75-$151.85 on the rail.Heifer trade was $90-$91.50 live to average $90.27, down $1.04, and $150.75-$151.85 on the rail.Cattle futures were pressured by general worries about Europe’s debt problems. Beef prices dipped as the rush to fill Memorial Day orders wrapped up. The weaker loonie helped Canadian prices.The cash to cash basis weakened to -$11.88 from -$10.47.Volume sold was 24,096 head, up four percent.Weekly Alberta slaughter to May 15 was 57,545 head, up four percent. That was 25 percent higher than last year.Canadian packers have done a good job to keep themselves and feeders current in their marketing.Weekly fed cattle exports to May 8 were 11,316 head, similar to the previous week, but almost double last year’s exports.Beef is priced comparably to other meat and retailers indicate they will feature beef, which could help move increased market-ready fed supplies in the summer.D1, D2 cow prices have been fairly steady for three weeks. They were $50-$68 per cwt. to average $59.89. D3 cows rose $1.50.Rail grade cows were $115-$118.Butcher bulls were $55-$83.50 per cwt. to average $72.88, up $2.20. That was the highest weekly average in eight years.Weekly non-fed exports to the U.S. to May 8 fell two percent from the previous week.A slight increase in non-fed cow numbers following calf losses from May storms helped auction volumes.Steers averaged $1.25 per cwt. higher, while heifers were 63 cents lower.Steers 300-400 pounds rose 65 cents and 400-500 lb. rose $2.10.Steers 600-700 lb. rose 15-25 cents per cwt. and those heavier than 700 lb. were $1.35-$2.60 higher.Heifers saw less interest and 300-400 lb. were $1.65 lower. Heifers 400-500 lb. fell 95 cents, 500-600 lb. were steady and 700-900 lb. were $1.80-$2.60 lower.Demand for heifers heavier than 900 lb. was strong thanks to orders for breeding replacements.Auction volume was 31,048 head, down two percent from the previous week but up 94 percent from last year.Year to date, sales are up 10 percent.Weekly feeder exports to May 8 were 9,247 head, down 16 percent from the previous week but 111 percent higher than last year.Demand for mid-weight to heavy feeders should strengthen as feedlot pens dry and feeder placements resume.Bred cow prices firmed as numbers tightened seasonally. Improved grass supply has increased optimism.Bred cows were $725-$975 to average $837.50 per head, up $75.Cow-calf pairs were $800-$1,450, averaging $1,140U.S. Choice cutouts fell $2.14 to close at $167.65 US and Select fell $4.26 to $161.90. Memorial Day demand wound down.Weekly Canadian slaughter to May 15 rose six percent to 74,760 head.Canadian AAA cutouts for that week rose 65 cents Cdn and AA cutouts were $3.56 lower.The Montreal wholesale price for delivery this week was $176-$178.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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