The Canfax weighted average steer price for the week ending April 29 was $90.46 per hundredweight, down $1.05, while heifers were $90.49, down 90 cents.
Domestic packers lowered their offers and were bidding for June delivery, so the majority of the fed cattle went to the United States.
The dressed sales to American buyers are converted to a Canadian live price. This resulted in a $5.50 to $6 decrease in the weekly average rail price but the average live price dropped only about $1.
Sale volume totalled 16,954 head, down 15 percent from the previous week. Feedlots remain current.
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The cash to futures basis widened to -$9.13 compared to -$8.17 the previous week.
Weekly exports to April 17 fell eight percent to 11,927 head. That was 17 percent higher than last year.
With an anticipated seasonal increase in market-ready fed calf numbers, prices and demand will be softer. Long-fed yearlings may be the exception due to tight supply.
Cows settled down and most of the trade was at $47 to $68.75 to average $58.81, down $1.05.
D3 cows were $45 to $61 to average $52.19, up $4.85.
Rail grade cows were $110 to $115.
With strong demand for trim, the spread between D1, 2 and D3 cows has narrowed significantly.
Butcher bulls were $61.50 to $75 to average $68.81, up 65 cents.
Weekly Alberta cow slaughter to April 24 was 6,504 head, up from 4,369 a year ago.
Weekly non-fed cattle exports to April 17 were 4,018 head up from 3,399 last year.
For the week, steers averaged 59 cents higher and heifers rose 39 cents.
Alberta auction volume rose nine percent to 48,705 head.
Steer calves 300-500 pounds were 85 cents to $2 lower, while heifers 300-400 lb. were up $1.40, and 400-500 lb. were $1.40 lower.
The increase seen in replacement quality heifers did not follow through and 800-900 lb. heifers were steady to 75 cents lower. Steers 700-900 lb. were 45 cents to $2.10 higher.
Weekly feeder exports to the U.S. to April 17 were 11,610 head, up from 8,041 head the week before and 6,292 last year.
With moisture improving in Alberta, volumes are expected to get smaller.
A good offering of cow-calf pairs fetched $875 to $1,400, averaging $1,049.
Bred cows were $650 to $1,030, averaging $792, and bred heifers traded $741 to $1,030, averaging $810.50.
Bred heifer trade was light, while bred cow trade was moderate.
U.S. ground beef prices were the highest since January 2009.
Choice cutouts closed at $169.96 US, up $2.61.
Select closed at $167.02, up $1.54.
Weekly Canadian AAA cutout to April 23 was $173.98 Cdn, up $3.97. AA cutout was $172.47, up $3.65.
Compared to a year ago, that was $13 to $14 lower.
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.
