FED PRICE RALLIES
The Canfax weighted weekly average fed steer price was $110.15 per hundredweight, up $1.21, and heifers were $110.37, up $1.81.
Tight market-ready volume lifted prices, but the rising loonie limited gains.
Large volume packages proved desirable because packers were eager to acquire inventory.
Some producers opted to ramp up offerings because of the bounce in prices from last week.
Accumulated sales totalled 21,198, up 30 percent from the previous week.
The cash-to-futures basis has narrowed for three weeks, closing last week at -$13.76.
Read Also
Farming Smarter receives financial boost from Alberta government for potato research
Farming Smarter near Lethbridge got a boost to its research equipment, thanks to the Alberta government’s increase in funding for research associations.
Weekly fed exports to the United States totalled 8,588 head, down 12 percent from the previous week.
The strong U.S. fed market provides a solid price foundation to the Canadian market.
Tight processing margins and difficulty in getting retailers and consumers to accept higher beef prices could cause packers to reduce slaughter.
COWS WEAKER
A better supply of non-fed cattle pressured prices lower.
D1, D2 slaughter cows were $62- $72 to average $67.11 per cwt., down
Fed cattle sales rose to capture price increase
75 cents. D3s were $52-$68 to average $60.07, down 50 cents.
Dressed slaughter cows were $128- $132.
Butcher bull prices slipped almost $1 lower.
Weekly non-fed exports to Oct. 8 fell to 2,988 head.
FEEDERS STRONGER
Average Alberta stocker and feeder prices were the highest since October 2001.
With harvest mostly concluded and excellent feeder prices, a substantial volume of 400-700 pound calves went to market.
Feeders steers on average were up $1.87 per cwt. and heifers rose $2.58.
Auction volume was up 67 percent over the previous week. It was only the fourth time that weekly auction volumes were larger than the previous year.
Weekly feeder exports to Oct. 8 were light, down three percent from the previous week to 494 head.
A good volume of fall calves is expected at auctions and special calf sales.
Good buyer interest should continue.
Bred cows were $1,250-$1,550.
BEEF LOWER
U.S. beef cut-out values traded almost $1 US lower on moderate demand and a light to moderate offering.
The Choice-Select spread continued wide but steady at $17.76.
The Montreal wholesale market for delivery this week rose to $202-$204 Cdn.
Weekly Canadian cut-out values to Oct. 14. saw a wider spread and lower values with AAA cutouts down $1.58 at $173.61 Cdn per cwt.
AA cutout was $3.87 lower at $164.71.
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.
