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 MARKET STABILIZES
The Canfax average fed steer price moved off its lowest point of the year, climbing to $133.88 per hundredweight, up 30 cents, while heifers were $133.20, up 46 cents.
Although sharply lower than the spring highs, Alberta fed prices remain at a premium over the Ontario and Nebraska markets.
Cattle weights are creeping up and there was more urgency to sell.
Light volumes of Saskatchewan cattle traded with prices steady to a slight premium over the Alberta market.
Most of the cattle traded were to be delivered the last week of September and first week of October, but some were to be lifted within a week.
Western Canadian steer carcasses increased 13 pounds to average 914 lb., the heaviest since December last year.
With bigger carcasses and more fat produced, pressure will rise on the 50 percent trim market.
Packers remain profitable.
In the U.S., light trade in Iowa and Nebraska saw dressed sales at US$165-$168, steady with the previous week.
Volumes increased and D1, D2 cows ranged C$80-$95 to average $87.72, down $1.89. D3 cows ranged $70-$85 to average $78.33.
Rail grade cows fell sharply to $172-$177 delivered.
Butcher bull prices were $3.50 lower to average $105.
Western Canadian non-fed slaughter for the week ending Sept. 9 rose four percent to 4,773 head. For the year, slaughter is up 10 percent at 238,724 head.
Weekly exports to Sept. 2 rose 10 percent to 4,167 head. For the year they are down 25 percent.
Volumes will likely continue to rise as they normally do this time of year and prices will weaken.
Alberta feeder prices rallied even as the fall run began.
Steer calves 300-500 lb. were sharply higher on a larger offering and improved quality, while heifers were fewer in number and prices edged lower.
Mid-weight calves 500-700 lb. saw good demand, and prices rose $1-$3.75.
Deferred October-November delivery pricing for quality 500-700 lb. steer calves was steady with spot delivery.
Large calves and yearlings heavier than 700 lb. traded $3.50-$6.50 higher.
Total auction volume jumped 54 percent to 33,070 head. For the year, volume is up 16 percent.
Calf marketings are expected to increase in coming weeks.
The feeder market gained considerable momentum last week and strong demand and prices are expected to continue this week, but the upside is limited by feeding profitability.
U.S. cutout values traded lower with Choice down $1.13 at US$191 per cwt. and Select down $3.44 at $186.72.
Weekly Canadian boxed beef to Sept. 2 saw AAA down C$4.50 at $246.59 and AA down $5.01 at $235.45.
The AAA-AA spread at $11 per cwt. was $5 wider than a year ago but in line with the three-year average.
The AAA cutout was at a $6.34 per cwt. premium over Choice, while the AA cutout was at a $3.36 discount to Select.