FED PRICE DOWN
Cattle futures fell along with most commodities after Goldman Sachs advised its clients to sell and take profits, warning of short-term weakness in oil and other commodities.
The Canfax weighted average steer price was $110.99 per hundredweight, down $2.18, and heifers averaged $110.79, down $3.03.
Sales volume of 17,305 head was up 31 percent from the previous week and two percent larger than last year.
The large offering had lots of thin cattle in the mix, but packers were not willing to chase them with higher bids. They might stay on feed until May.
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Most of the trade was on a dressed basis.
There were no reported sales to the United States, but American buyer interest was observed.
The cash-to-futures basis widened slightly to –$3.13 compared to –$2.95 the previous week.
Weekly fed exports to April 2 were 9,103 head, down 15 percent from the previous week and 36 percent lower than last year.
COWS HIGHER
D1, D2 cows rose 66 cents per cwt. to average $80.45. D3 cows climbed to $68.25.
Rail cows were steady at $148-$153.
Butcher bulls rose 54 cents to $75-$98.
Weekly non fed exports to April 2
were 3,871, up three percent from the previous week.
The recent spring snow could force a flush of calving culls to hit the market.
FED MARKET WEAKER
The weaker fed market pressured feeders; light grass type steers led the retreat.
The average steer price fell $2.50 per cwt. and heifers dropped $1.59.
Steers 300-600 pounds fell $3-$4 and heifers fell $2-$3.
Heifers 700-900 lb. and steers 800-900 lb. were mostly steady.
Steers and heifers 900 lb. and heavier fell $1-$2.
Weekly feeder volume totalled 34,731, steady with the previous week. Volume is down 24 percent this year.
Weekly feeder exports to April 2 totalled 3,049, up 39 percent from the previous week.
Good moisture in southern Alberta should increase interest in grasser cattle.
BEEF FALLS
Choice cut-out values April 14 were $187.96 US per cwt., down $2.97. Select fell $2.68 to $184.33.
Weekly Canadian slaughter to April 9 was 52,167.
Canadian cut-out values to April 8 saw AAA cutouts close at $183.90 per cwt., up $2.63, while AA cutouts increased $3.10 to close at $183.02.
The Montreal wholesale price for delivery this week was steady at $201-$203 per cwt.
CATTLE ON FEED
The number of cattle on feed in Alberta and Saskatchewan as of April 1 was 997,901 head, down 3.6 percent from last year but five percent higher than two years ago.
The stage and weight of cattle will affect the flow of marketings. Heavier cattle are tight but there are more light cattle.
Marketings were 125,842, down 26 percent from last year and the lowest March number since reporting began in 2000.
Placements were 195,719, down 13 percent from last year. This is the third consecutive month that placements were lower than last year.
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.
