Western Producer Livestock Report

Fed cattle steady

Fed cattle prices were fairly steady except for heifers, which were down by $2 per hundredweight due to fewer fancy heifers in the mix, said Canfax.

About 31,000 head were on offer but fewer sold as sellers opted to hold.

Slightly more than 16,000 head sold, 41 percent smaller than the previous week’s big run. Packers were able to acquire enough cattle. Some of them have extended their live inventory out to the week of May 10.

More calves were in the offering, giving sellers more choice because they could be put back on feed.

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Alberta prices April 22 were steers $84.75-$85.50 per cwt., flat rail $143.40-$144.30 and heifers $83.75-$84.

The fact prices have not fallen despite large offerings indicates that buyers believe that borders will reopen soon for young slaughter cattle, said Canfax.

Canada gains behind U.S.

Canadian cutouts gained some ground but lagged behind the big gains south of the border. AA cutouts were up almost $3 per cwt. while the AAA was up $4.75-$5 from the week before. After the large move two weeks ago in U.S. cutouts, last week saw prices slip by $3.50-$4.50 on the Choice and Select.

Kills are back over 71,000 head. The border reopening to bone-in beef means products like spare ribs and prime ribs will find stronger demand. The Montreal market is up $3 per cwt. with steers at $151-$153, top $155. Calgary is up $2-$3 with steers at $144-$150.

Feeder prices rise

Feeder volumes and prices gained momentum, with Alberta auction market volumes 28 percent higher than the week before and 31 percent higher than a year ago.

More buyer depth was evident in all weight categories.

During the week, U.S. interest was noted again and feedlots that have not bought cattle for a couple of months tried their hand in the market for cattle heavier than 700 lb., said Canfax. Buyers in the grass market also remained strong.

Steers 300-600 lb. were $1.75-$3.50 per cwt. higher and 600-800 lb. traded $5.25-$6 stronger. Steers 800-900 lb. rose $7.75, while steers 900 lb. and heavier increased $5.

Heifers 300-500 lb. were up $4-$4.25, while 500-900 lb. and heavier traded $5.50-$6.50 stronger.

D1, 2 cows were steady to slightly lower, down $1.

Stock bred cows traded at $375-$1,050, with most at $500-$900. Bred heifers on limited trade in southern and northern Alberta were $375-$700 on low quality and $700-$1,125 on good quality. Cow-calf pair trade was more active at $500-$900 on lower quality cows and $900-$1,300 on quality cows.

Hogs rise

Good pork demand and tightening supplies of hogs lifted U.S. cash hog prices, said Manitoba Agriculture. Canadian prices also rose, with additional support from a lower loonie.

Some U.S. plants have reported cutbacks in kill rates, but slaughter is still high relative to the supply of hogs.

The Iowa-Minnesota daily direct hog price (plant mean, 51-52 percent lean, live equivalent) increased about two percent to $51.27 US per cwt. on April 22 from $50.23 April 19.

With favourable weather, many U.S. producers are choosing to plant crops rather than deliver hogs, said Manitoba Agriculture.

The higher hog and pork prices supported increases in the nearby lean hog futures contract.

The markets were also supported by the lower amount of pork in cold storage. USDA reported that the total red meat supply in freezers was down five percent from last month and down seven percent from a year ago.

It also reported that pork production in the U.S. in March totalled 1.8 billion pounds, up 11 percent from last year, a record high.

Ontario Stockyards reported 2,096 sheep and lambs and 235 goats traded. All classes of sheep, lambs and goats sold actively at steady prices.

All prices in dollars per cwt.