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 cattle lower
Fed cattle prices fell on the stronger Canadian dollar and weaker U.S. market.
U.S. beef demand is weak and will likely become weaker heading into the turkey holiday season.
For the week, steers traded $76.50-$79.05 live and $128-$130.85 on the rail. Heifers traded $76.85-$78.25 live and $130.85 on the rail.
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Steers averaged $77.75, down $4.15, and heifers averaged $77.86, down $3.60.
Many cattle passed rather than take the lower bids.
The show list for the week was 21,034 head and Canfax members reported 12,734 head sold, only 60 percent of the show list.
The cash to cash basis strengthened to $9.38 under from $9.60 under the week before.
For the week ending Nov. 7, Alberta steer slaughter was 17,229 head and heifer slaughter was 18,608. Total slaughter for Alberta was 48,573 head, steady with the previous week.
Fed cattle exports to the U.S. for the week ending Oct. 31 were 9,922 head compared to 6,271 head the previous week.
Year to date fed cattle exports are 450,444 head, down 23 percent from last year.
Canfax said trade should be in the $77-$78 range, but packers are still sifting through a backlog and prices could continue to be pressured lower.
D1, D2 slaughter cow prices were steady while D3s were 10 cents cwt. higher.
Butcher bulls were 50 cents higher and averaged $44.63.
Nonfed slaughter exports for the week ending Oct. 31 rose about nine percent compared to the previous week.
Slaughter cow prices may have found a floor but captive supply could prevent immediate improvement.
beef prices lower
U.S. Choice cutouts fell $2.02 to close at $139.31 US. Select fell $2.39 to $133.37.
Canadian AAA cutouts for the week ending Nov. 6 were 91 cents lower than the previous week and $28.63 or 17 percent lower than last year.
AA cutouts were 70 cents higher than the previous week, but $26.52 lower than last year.
The Montreal wholesale market for delivery this week fell $3 to $163-$169.
feeders stronger
Fall calf sales were in full swing. Animals lighter than 700 lb. rose $1-$2 from the week before.
The yearling run is now over and prices for feeders 800 lb. and heavier were pressured lower as quality and supply dwindle.
Feedlots and backgrounders are looking for calves that will hit an April fed market or can be backgrounded to make spring grass cattle using salvaged alternative feed stocks.
Steers 300-600 lb. saw good demand with prices up $1.75- $2.25 per cwt. and steers 600-900 lb. were steady to 75 cents higher. Steers heavier than 900 lb. traded $2 lower.
Heifers 300-500 lb. were $2-$2.75 higher and 500-700 lb. were $1 higher.
Auction volumes of 89,736 head were up six percent from the week before but down five percent from last year.
Feeder exports to the U.S. for the week ending Oct. 31 totalled 4,313 head, up two percent from the week before but 67 percent lower than last year.
Feeder prices should realign lower in response to lower fed prices, but concerns that the feeder supply could dry up before the New Year are providing support, Canfax said.
Special bred cow sales are now scheduled weekly at most auctions, and prices based on large volume will soon be available.
Regular sale bred cows and heifers saw prices of $350-$900 two weeks ago.
on feed report
The Alberta and Saskatchewan cattle on feed showed 895,596 head in feedlots Nov. 1, down five percent from last year.
Placements in October were 315,607 head, down three percent from last year but 22 percent larger than October 2007.
Marketings in October were 135,865, down 14 percent from last year. Other disappearance was 14,159, up 21 percent.
