Holiday hurt prices
Fed cattle fell last week with steers down $3.75 per hundredweight and heifers down $4.50, said Canfax.
With only four business days in the week, the offering was much smaller. About 12,000 head traded.
With smaller kill requirements, packers were able to pressure prices.
The weaker trend in U.S. cash cattle prices was also apparent in the Canadian market.
Alberta prices April 16 were steers $106.15-$109.95 per cwt., flat rail $175.45-$180.35 and heifers $108.30-$108.50, flat rail $180.
Wholesale beef markets are mixed. There is upward pressure because of reduced product in the pipeline. But that is offset by slower movement due to higher prices.
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The Montreal market this week is steady to $3 higher at $185-$188 per cwt., while the Calgary market is steady to $1 lower. Calgary handyweight carcasses are $174-$178.
Canfax said it is not clear that the typical late April fed cattle price slip has started. The calendar would say yes, but tight market-ready supplies have given sellers the upper hand.
Sellers have room to slow their sales a little, but real price strength will require a rally in the United States.
Feeders do well
Feeder prices were stronger on most classes, said Canfax.
Volume was up despite the holiday with 27,545 head trading, six percent higher than the week before, but 15 percent lower than the same week last year.
Steer prices rose $1-$4.75 per cwt. with the most strength on 500-600 pound grass-type cattle.
Heifers also rose on most classes, except light calves under 500 lb., which were steady to $1 lower.
All other weight groups of heifers saw prices $1-$2 stronger.
The slaughter cow average for the week was $1.50 higher, mostly due to fewer head on offer.
Canfax said tightening supply and strong demand should hold prices steady to firm over the next while.
Slaughter cow numbers will likely continue to decrease as some producers wind down calving and start thinking about moving pairs to pasture in the next few months.
The reduced slaughter cow volume should allow the normal seasonal runup in cow prices.
In stock cow trade, bred cow and heifers were $875-$1,270 with most at $1,000-$1,200.
More cow-calf pairs sold at Alberta auctions. Prices ranged from $1,050-$1,510, with most at $1,100-$1,400.
Packers pay less for pigs
U.S. wholesale pork cutout values fell heavily April 15 but then largely recovered.
But packers did not reflect the recovery in their hog auction bids.
The Iowa-Minnesota daily direct hog price (plant mean, 51-52 percent, lean carcass converted to live weight) decreased 3.4 percent from $36.09 US cwt. at the start of the week, to $34.94 on April 15.
Lean hog futures prices climbed thanks to fund and commercial buying.
Iowa carcass weights continued to drop and are now 1.4 lb. lighter than last year at the same time.
