FED CATTLE PRICES FALL
Markets were pressured lower by the U.S. Department of Agriculture’s cattle-on-feed report before the long weekend that showed more cattle in feedlots.
The weighted average steer price for Alberta was $106.94 per hundredweight, down $2.36 from the previous week, and heifers averaged $106.23, down $2.79.
Rail grade steers were $180.75- $181.75 per cwt. and heifers were $180.75-$181.75.
Sales volume was 18,051 head, up nine percent, thanks to follow-up trade after the previous week’s early close.
The cash to futures basis widened slightly to -$4.75 from -$4.42.
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Weekly fed exports to April 16 were 9,782 head, down eight percent. To date this year, exports are down 34 percent.
Feedlots have stayed current but market-ready numbers will increase seasonally.
Beef demand is lackluster and fed prices will be under pressure.
COW PRICES WEAKEN
D1, D2 cows fell $1.36 to average $78.25 per cwt. D3 cows were mostly steady to average $70.33.
U.S. Midwest direct cow prices have firmed, supporting Canadian prices.
Rail cows were steady at $148-$153 per cwt.
Butcher bulls were $75-$98 and averaged $90, down $2.03.
For the week ending April 16, non-fed cattle exports were 3,531, down eight percent.
Exports are down 26 percent so far this year.
FEEDERS MIXED
Lower cattle futures and the high Canadian dollar weighed on feeder values.
Cash trade was mixed, with the average steer price rising 21 cents per cwt., while heifers fell $1.02.
Buyers are becoming more selective and the price range for light calves is widening on quality.
Steers 300-500 pounds rose $1-$2.
Heifers 300-400 lb. edged 50 cents higher. Steers and heifers 600-800 lb. were mostly steady.
Steers and heifers 800 lb. fell $1-$2.
Auction volumes totalled 22,964, up 35 percent from the previous week.
Auction volume is down 28 percent so far this year.
Weekly exports to April 16 were 2,903 head, up 10 percent from the previous week. Exports are down 53 percent so far this year.
Heifer volume going to auction should increase as producers finalize replacement stock. Uncertain market conditions ahead could pressure prices lower.
BEEF PRICES FALL
Cool weather is limiting demand for beef cuts.
U.S. Choice cutouts were $184.14 US per cwt. April 28, down $2.22. Select fell $4.02 to $177.90.
Weekly Canadian slaughter to April 23 was 51,538 head, down 10 percent. Slaughter is down 11 percent so far this year.
Weekly Canadian cutout to April 22 fell, with AAA falling $4.55 to $177.86 Cdn per cwt., and AA down $4.28 to $175.94.
The Montreal wholesale price for delivery this week was anticipated to be $2 lower at $200-$202 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.
