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 steadies
The Alberta fed market was steady to modestly higher.
In limited cash trade, steers averaged $182.93 per hundredweight, which was little changed from the previous week. Heifer prices were similar.
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Dressed prices were steady at $305-$308 per cwt. delivered.
Market ready volumes were manageable. American buyers showed interest but no business was completed.
The cash-to-futures basis weakened to -$5.22.
Weekly western Canadian fed slaughter edged higher, but is down nine percent this year.
Weekly fed exports to July 18 were steady at 2,926 head.
A few more fed cattle are trading on a formula basis, tightening volumes on the cash market.
Basis levels are expected to weaken modestly, which might improve U.S. buyer interest.
Live trade developed in the U.S. at the end of the week with prices US$2-$3 higher at $146-$148.
Cows stronger
Western Canadian non-fed slaughter was the largest since early May.
Fewer cows were at auction, and U.S. butcher cow prices were stronger, helping to lift prices by C$2-3.
D1, D2 cows ranged $132-$146 to average $139.83 and D3 cows ranged $118-$135 to average $127.
Rail grade cows were $262 to $267.
Bulls traded steady at $169.22.
Cows that were bought earlier in the summer and put on grass or fed on speculation of higher prices might come back to the market over the next 30 days.
Feeders mixed
Recent rain across the Prairies has helped pastures and reduced the number of feeder cattle going to market.
The cash market was lightly tested, and prices were generally mixed on quality and lot size.
The feeder steer average fell $2.09 per cwt., and the heifer average rose $3.09.
Most of the cattle at auction are yearlings, but a few smaller groups of spring calves are arriving at market.
Calf prices for fall delivery were mostly steady. Eastern Canada buyers were active.
Forward delivery calf sales via electronic and private sales are nearly 75 percent steers.
Many cow-calf producers may want to get a better gauge on winter feed supply before making major decisions regarding selling or retaining heifers.
Feed barley prices fell, reflecting weaker corn prices and lower Alberta feedlot demand.
August is traditionally the strongest 850 lb. cash-to-futures basis month of the year.
Beef prices rise
U.S. boxed beef prices traded slightly higher in the week to July 30 with Choice up 75 cents to US$233.34 and Select up $1.36 to $229.32.
The growth was mainly driven by end meats, while middle cuts were steady to lower.
Middle meat prices will likely remain under pressure as hot summer weather continues, but seasonal demand for end meats will continue to pick up as buyers start to look for fall roasting items.
Canadian boxed beef prices to July 25 saw AAA rise C$4.73 $302.25 and AA climb $7.93 to $296.09
