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.
Feeders hit new highs
Alberta calf prices continue to trade within the same price range as last year for the first quarter of 2019.
The weekly average price for 550 pound steers in 2019 has ranged from $217.50-$234 per hundredweight. The 2018 weekly market topped out at $234.22 per cwt., set at the end of February. The market is starting to see seasonal strength, and prices are at a premium to a year ago.
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The feeder futures hit new contract highs this week, and summer live cattle futures are above year ago levels, even with anticipated large cattle supplies.
Weaker cash and deferred barley bids and live cattle contracts are continuing to hover near contract to support the feeder market. From the low price in late February, 805 lb. steers have improved about $10 per cwt.
This week, Ontario buyers were more active in the western Canadian feeder market and bought feeders as far west as British Columbia. In the Manitoba lightweight stocker market, 550 lb. steer and heifer prices were at a $2-$4 per cwt. premium over Alberta and Saskatchewan.
For cattle weighing 500-600 lb., Manitoba averaged $237.33 per cwt. while Ontario was $227.93. Alberta and Saskatchewan were close at $233.95 and $233.83 per cwt., respectively.
Fed cattle trade light
Alberta direct cattle sales saw light volume because of the holiday weekend, but prices were fully steady with last week. With the short four-day trade week and stronger prices in the United States, local feedlots opted out of this week’s market and look to next week for a stronger market.
Live Alberta fed steers averaged $160.50 per cwt. and $267-268.50 on the rail. Ontario live steers were $132.85-$151.70 and $255-$260 on the rail.
The Alberta-Nebraska cash basis weakened again to below -$12 per cwt. this week.
Western Canadian fed slaughter for the week ending April 13 was fully steady with the previous week at 38,046 head. Year-to-date western fed slaughter was 12 percent larger at 525,161 head. Canadian carcass weights were down slightly from last week.
Steer carcasses averaged 914 lb. while heifers were 848 lb.
Cows improve
Butcher cow prices are trading at the highest point since the end of last July. Alberta D2 cow prices have been trading at a $12 per cwt. premium over the U.S. utility market. The price spread between Alberta and Ontario remains wide and there have been reports of cows from Manitoba and Ontario coming to Alberta to go on feed or direct slaughter. Alberta D2 cows averaged $91.36 per cwt. while Ontario averaged $71.10 per cwt.
Weekly Canadian butcher bull exports to the U.S. totalled 937 head. Since early March, Canadian bull export volumes to the U.S. have been above year ago levels.
Year-to -date exports for all classes of cattle are up more than 30 percent over 2018. About 224,070 head were exported as of the first week in April.
