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CALGARY (Staff) – Cattle prices continue to plummet for all classes while hog marketings remain steady.
Canfax reports the fed cattle market is faltering as average steer and heifer prices dropped by $4.50 in #Eastern Canada last week. In the west it is just as bad, with steers and heifers trading at $2-$3 lower. April 25 trade saw steers bring $63.35-65.40 and heifers $61.50-$65. Packers are pushing back delivery dates. Inventory is ample.
Beef demand is sluggish even though a lot of meat is moving into the system. A cool spring may be partly responsible as it delays barbecue season. Montreal wholesale price was $149 while Calgary is at $119-$125.
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Last week this report noted dressed weights for steers and heifers were dropping. However, the report gave the impression quoted weights of 712 and 665 pounds respectively were finished weights. This week the average steer carcass weight was 706 lbs. and heifers were 637.
Feeders dropped $3 a hundredweight from last week on all classes. Southern Alberta steers at 600-700 lbs. were averaging $74.16 compared to last year this time when they earned $106.67.
D1, D2 cows were $33-44 and D3s averaged $30-$38.
Stock cow trade was steady. Bred cows were $430-$700, bred heifers traded around $400-$650 and cow-calf pairs were $500 to $990.
Up from last week
Hogs traded at around $1.72-$1.75 last week, up $5 per ckg. over the week previous. Western Canada sold more than 106,000 hogs with Manitoba trading the most at 42,342. Total Canadian kill was 258,010 to April 13, down about three percent over this date last year.
Corn trade in the U.S. hit $5 a bushel last week. Lethbridge barley was $172 to $190 a tonne, oats at $180 and feed wheat, $163-184. Western barley futures closed for May at $195. November futures were posted at $172.
