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.
Fed cattle rise
Packers cleaned up their backlog last week and moved to a more current position.
Steers traded $81.30-$83 per hundredweight live and $137.50-$137.85 on the rail and heifers were $81-$82.55 and $137.60-$137.85 on the rail.
Steers averaged $82.74 up 67 cents and heifers averaged $81.76 up 18 cents.
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Volume saw 24,000 head sold, up 31 percent from the week before and six percent larger than last year.
Cash cattle numbers will drop in October but there will be more contracts. With fewer cash cattle on offer, feedlots might have more leverage when negotiating prices.
D1, 2 cows averaged $40.52 per cwt., down 34 cents from the week before. D3 cows rose 52 cents to average $36.10.
Butcher bulls were 51 cents lower to $49.62.
Despite anticipated larger volumes, steady bull prices are expected, thanks to continued strong demand from packers for grinding meat.
Large volume weakens feeder price
Producers took a break from harvesting and feeder auction volumes rose 51 percent from the previous week.
Domestic feedlots have booked reasonable barley prices and are looking for feeders.
Steer prices averaged 70 cents per cwt. lower while heifers fell $1.57.
Steers 300-400 pounds were 82 cents higher, while 400-600 lb. were $1.46-$2.05 lower.
Steers 600-700 lb. were 41 cents lower, 700-800 lb. fell 76 cents and 800-900 lb. saw strong interest at prices steady to 26 cents lower.
Steers heavier than 900 lb. were 81 cents lower.
Heifers prices were generally $1.16-1.75 lower with the exception of the 400-500 lb. range, which saw a $2.95 decline.
Heifers 800-900 lb. saw strong demand and slipped by only 62 cents.
There were too few bred females sold to quote prices, but with deteriorating pasture conditions, more cows and pairs should start going to auction soon.
Pairs at auction saw prices up to $930 and averaged $801.25.
Beef prices mostly lower
US Choice cutouts fell 26 cents to close at $141.69 US and Select rose 20 cents, closing at $134.16.
Canadian AAA cutouts for the week ending Sept. 11 were 46 cents Cdn higher than the week before. AA cutouts were 23 cents lower.
The Montreal wholesale price for delivery this week fell $4 to $173.
The Alberta live steer price as a percent of AAA cutout was about 55 percent, almost one percent higher than the previous week.
