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.
New record high
Fed steers in Alberta posted a new record high last week at $175.71 per hundredweight in light trade.
The U.S cash live cattle trade was very light.
The U.S. Department of Agriculture’s mandatory price reporting service said Nebraska sold 2,503 head at US$266.74 per cwt. dressed, or $169.82 live, for a weekly total of 3,447 head.
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Iowa-southern Minnesota sold 1,832 head Nov. 21 at $169.45 live or $267.12 dressed for a weekly total of 6,831 head.
In Canada, annual fed price highs have occurred in November or December over the past four years.
The show lists are becoming smaller, which should support prices, but many cattle are committed through contracts.
Cattle bought over the past couple of weeks were scheduled for slaughter during the first week of December.
U.S. packers showed interest, but no cash sale were confirmed.
The Alberta fed cash-to-futures basis closed at -$17, which is still weaker than normal.
The cash-to-futures basis normally improves from November to December.
However, with so many cattle committed through contracts, the basis will likely remain weaker than the five-year average of -$8.93.
The fed market is supported by the fact that cow slaughter is running six to 13 percent below last year.
The likelihood of rising fed cattle prices depends on whether competition from American buyers develops.
Cow price steady
The slaughter cow volume in-creased, as it usually does this time of year, but prices were mostly steady.
D1, D2 cows ranged C$118-$136 per cwt. to average $126.25. D 3 cows ranged $100-$120 to average $110.17.
Rail cow bids were $243-$248 per cwt. delivered.
Butcher bulls eased slightly to average $138.30.
Weekly western Canadian non-fed slaughter to Nov. 15 rose 15 percent to about 9,000 head.
Weekly non-fed exports to Nov 8 slipped to 7,393.
Feeders rise
The peak of the fall run might be over, but strong prices continue to attract an impressive volume of feeders to market.
Average prices rose $1.50 per cwt. last week.
Stockers lighter than 400 pounds were fairly steady, and 400-700 lb. were about $2-$3 higher.
Competition for 400-500 lb. steers was hot, and prices rose $4.88.
Feeders 700-900 lb. saw prices steady to moderately higher, with the exception of 700-800 lb. heifers, which surged sharply higher.
Yearlings heavier than 900 lb. traded mixed with steers $2 lower and heifers more than $3 higher.
Alberta auction volumes fell three percent to 72,940 head.
Weekly exports to Nov. 8 rose 13 percent to 17,176 head.
Auction volumes should ease.
Feeder exports are expected to rise, but that is not expected to affect prices or boost demand because most have already been through the auction system.
Bred cows were $1,950-$3,000 per head, and bred heifers traded $2,000-$3,175.
U.S. beef price up
U.S. cutouts rose about US$4 with Choice at $255.39 and Select at $242.39.
American Thanksgiving was just around the corner, and beef was taking a back seat to turkey and ham at the retail sector.
Canadian cut-out values for the week ending Nov. 14 are unavailable.
The Montreal wholesale price for delivery this week rose to C$310-$312 per cwt.
