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 down slightly
Fed steers on average fell to $109.58 per hundredweight, down 11 cents, and heifers averaged $108.73, down 21 cents.
Moderate to active trade was re-ported with bids holding firm over the week. Most dressed trade was reported from $183 to $184 per cwt. delivered.
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With the Alberta-Nebraska cash to cash basis weakening, U.S. buyer interest was anticipated to be more of a factor this week. Accumulated sale volumes totalled 20,655, up 13 percent from the previous week.
This week’s cash to futures basis is at the weakest level of this year closing the week at -$15.11. The U.S. Department of Agriculture reported Canadian fed exports to the U.S. for the week ending Aug. 25 totalled 3,087, down 38 percent from the previous week.
Western Canadian heifer carcass weights were reported at 829 pounds, the largest since the week of April 12.
Prices hold steady
Slaughter cow prices held mostly steady this week with D1, 2 cows firming and D3 prices barely steady.
D1, D2 cows ranged $74-$85 to average $79.58. D3 cows ranged $65-$77 to average $70.80. Rail grade cows were $150-$155.
Dressed prices generally continued steady, ranging from $149-$154 per cwt. Butcher bull prices continue to trend seasonally lower and have slipped $3 over the past three weeks.
Western Canadian non-fed slaughter for the week ending Sept. 1 was down six percent from the previous week to 3,410 head and eight percent lower than last year at 191,981.
Demand consistent
Steer prices firmed 75 cents per cwt. higher this week and heifers traded mostly steady on a light to moderate offering. Auction volumes typically bottom out in July, then increase and peak in November.
Light stockers saw good demand this week, generally trading $1-$2 per cwt. higher while mid-weights from 500-700 lb. saw prices steady to 50 cents per cwt. higher.
Feeders heavier than 700 lb. traded relative to quality. This week’s auction volume of 17,068 head was nine percent smaller than last week and down 26 percent from the same week last year. The USDA reported Canadian feeder exports to the U.S. for the week ending Aug. 25 were 917 head.
U.S. demand moderate
U.S. beef cut-out values this week strengthened on moderate demand and a light to moderate offering.
AAA cut-out values to Aug. 12 were $183.06 and AA values were $179.59.
The Montreal wholesale market for next week’s delivery was steady this week, ranging from $211-$213. Canadian cut-out values for the week ending Aug. 31 eased moderately lower, but compared to this week last year were $8.50 and $8 higher on AAA and AA, respectively.
Canadian fed slaughter for the week ending Sept. 1 was 47,669 head.
Year-to-date volumes for the same period were down three percent.
