Slaughter prices slip
The fed cattle price average was steady last week, but the market showed weakness late in the week, said Canfax.
Packers were most active mid-week when they bid the highest prices for the week.
Steer and heifer averages were about $81 per hundredweight for the week, but only $80 at the close.
Volume was slightly more than 18,000 head, compared to nearly 26,000 head the week before.
Carcass weights are still down from last year indicating no backup in cattle supply, Canfax said.
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Alberta prices May 5 were steers $80 per cwt. live and $130.75-$133.65 flat rail.
Packers appear to be expecting good supplies available into June. This will likely cause prices to be erratic and Canfax recommended that sellers take advantage of any short-lived rallies.
Interest in the set-aside program will continue to be limited when prices are more than $80 but should attract more attention if prices slip under that point, Canfax said.
Canadian cutouts two weeks ago followed the U.S. trend, rising $2.50 per cwt. on AAA and $7.50 on AA, said Canfax.
U.S. cutouts last week slipped with Choice and Select down $2.75 US per cwt., narrowing the Choice-Select spread slightly from the week before.
Canadian federal slaughter should hit 80,000 as packers gear up. Calgary wholesale prices for this week’s delivery are steady at $138-$140 Cdn.
Feeders follow prices
Stronger prices attracted feeders to auctions and the volume in Alberta rose 16 percent to more than 37,000 head.
Price averages were higher across all weight groups, said Canfax.
Steers 500-600 lb. saw the biggest improvement, trading $4.50 cwt. higher, while steers 600-900 lb. and heavier were $2-$3.25 higher. Heifers 500-600 lb. were up $1-$1.50 and 600-900 lb. and heavier were $2-$3 higher.
D1, 2 cow prices slipped again, while butcher bulls were off $3.25.
Fed cattle prices above $80 will make feedlots willing to fill pens, and there is good demand from those wanting cattle to put on pasture, said Canfax.
Stock bred cows in central and northern Alberta were $300-$900 on medium quality and $900-$1,250 on excellent quality. Bred heifers in northern Alberta were mostly $400-$950.
Cow-calf pairs in Alberta were $450-$975 with tops to $1,220 in central areas and $1,400 in southern areas.
Other livestock
Cash hog prices rose strongly seasonally along with pork cut-out prices, but the market finished the week on a weak note.
Hog supplies in the U.S. were tight and packer margins were negative despite the improving cutout. Packers bid higher anyway to get the supply needed for the forthcoming May long weekend.
Ron Plain of the University of Missouri noted that U.S. domestic pork consumption was down by 3.3 percent in the first quarter compared to the same period last year. He said this indicates that the popularity of high protein diets may be fading and there is also strong competition from chicken.
For the week ending April 29, Manitoba five-kilogram pigs received top bids of $62.33 Cdn per pig while contract tops were $44.25. Spot prices for 23-kg pigs were to a high of $108.47 and top contracts were $80.39 per pig, said Manitoba Agriculture.
The U.S. national direct delivered price for five-kg pigs (converted to Canadian dollars) was $39.45-$66.07 per pig and 23-kg pigs were $70.91-$105.96.
Ontario Stockyards reported 1,276 sheep and lambs and 95 goats traded. All classes of lambs sold steady to higher. Sheep and goats traded steady.
