FED CATTLE RISE
The Canfax weighted average steer price for the week ending Aug. 27 was $91.39 per hundredweight, $1.36 higher, and heifers rose $1.33 to average $91.11.
Dressed prices were $3.35 per cwt. higher.
There was little U.S. interest because packers there have good inventory and the basis is fairly wide.
Prices rose despite a large carry-in from the previous week.
Sales totalled 27,406 head, up 50 percent.
The cash to futures basis narrowed to -$12.77 from -$13.10.
Canfax anticipates larger market-ready numbers in September and soft American buyer interest.
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COWS EDGE UP
D1, D2 cows ranged from $54-$65 to average $60.48, up 30 cents. The price is $20.50 higher than last year.
Dressed prices were $1 higher at the end of the week with a range of $114-$118.
D3 cows ranged from $50-$58 to average $54.15, up 68 cents.
Butcher bulls were $65-$81 for an average of $73.39, up $1.35.
FEEDERS CLIMB
Stronger fed cattle and a weaker loonie lifted feeder prices.
The steer average price rose $2.46 and heifers rose $3.59.
Steers and heifers 400-700 pounds saw the most improvement, rising $2.50-$5.50 per cwt., likely because of better quality calves in the mix.
Wide ranging quality in lighter feeder calves led to a wide range in prices. Steers 700-900 lb. and heavier rose $1-$2.
Heavier heifers rose $2.50.
The price gap has narrowed between steers and heifers because of the smaller number of calves available this year.
Auction volumes are starting to pick up, with yearlings starting to move, and producers are moving cows as soon as they can.
Electronic sales of yearlings are also strong.
Auction volume rose 43 percent to 44,219.
Good pasture conditions in most of Western Canada are keeping cattle movements well regulated. Parts of northern Alberta are dry, pushing more animals to auction.
The yearling market may come under pressure because the fed cattle market may have topped this week.
Strong demand and tight supplies of calves will keep that market firm, although feed price concerns nag the market.
Cow-calf pairs saw good buyer interest on a light offering and ranged from $1,000-$1,475.
Few bred cows are coming to town and seedstock auction volumes are expected to be light.
Farmers are preoccupied with putting up feed stocks and have ample grass to leave pairs on pasture.
BEEF JUMPS HIGHER
U.S. Choice rose $4.88 U.S. on the week to $158.24 per cwt. and Select rose $6.12.
Daily price gains are becoming smaller and analysts report discounting has started, which may mean this market is about to peak.
Canadian slaughter for the week ending Aug. 21 rose slightly to 63,981 head. That was down 3.5 percent from last year.
The AAA cutout closed at $151.25 Cdn per cwt., up $4.68 and now only $3.97 below year-ago levels.
The AA cutout closed at $152.90, up $5.03.
The Montreal wholesale price for delivery this week rose $4 to $184-$186.
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.
