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 prices fall
In light trade, fed steers averaged $135.09 per hundredweight, down $3.05 and heifers were $133.82, down $4.68.
Dressed trade was about $230 per cwt. delivered.
Cattle sold last week were scheduled for slaughter in early March.
Alberta-Saskatchewan showlist volumes were the second largest since the beginning of September.
Packer-owned supply was larger, which moderated buying interest.
Live cattle futures in Chicago rose despite weaker beef prices. The Alberta cash-to-futures basis widened to -$21.60, the weakest since February 2007.
Weekly fed exports to Feb. 1 rose 29 percent to 7,808 head.
Packer contract volumes appear to be larger for the second half of February giving feedlots less leverage.
Market ready supplies should increase into March, but packers will likely reallocate hours to A grade slaughter as non-fed volumes seasonally decline.
Cow prices rise
Tighter supply and good hamburger demand caused D1, D2 cows to climb to $80-$95, to average $88.42 up $5.08. D3s ranged $73-$85 to average $79.83 up $6.63. Weekly rail bids rose to $175-$180 per cwt. delivered.
Butcher bulls averaged $91.36.
Weekly western Canadian non-fed slaughter to Feb. 8 fell 14 percent to 7,516.
Considering the reduced supply and strong demand, prices will likely rise this week
Feeders across most classes generally rose $1 per cwt. on good de-mand. Some buyers shifted interest to 400-600 lb. heifers, pressuring prices $2 higher.
Calves lighter than 400 lb. were little changed with prices depending on quality.
Alberta auction volume dipped one percent to 31,009 head.
Weekly feeder exports to Feb. 1 were about steady at 8,266 head.
The early surge of feeders to market the past few weeks should reduce feeder supplies in coming weeks.
Bred cows ranged $1,100-$1,520 per head. Bred heifers ranged $1,200-$1,700.
U.S. boxed beef prices fell $4.55-$5.41 last week.
Weekly Canadian cutouts to Feb. 8 fell with AAA down $5.11 at $221.94 per cwt. and AA down $5.52 at $221.44.
Montreal wholesale prices for delivery this week fell to $226-$228 per cwt.