Alberta sets record
Despite a slow start, fed cattle sales were mostly steady last week.
Volume was 17,000 head, down 20 percent from the previous week.
Some sellers opted to pass cattle when bids slipped to the low end of ranges, said Canfax.
Alberta prices May 13 were steers $85-$87.50 per hundredweight, flat rail $145.85-$146 and heifers $85.75, flat rail $145-$145.90.
Packers reported good beef movement.
Canadian kills again surpassed a 15-year high at 72,000 with Alberta processing over 51,000 head, the largest ever, and up from the 48,800 record of two weeks ago. Most of the larger plants are working six days per week.
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Wholesale prices lost a little ground with the Calgary handyweight steer price falling to $144-$152 per cwt. The Montreal market was $154 per cwt.
Byproduct credits were down $1-$2.
Canfax said the Alberta basis narrowed $1 per cwt. to $6 under, due to the U.S. market losing $1 but local prices are holding their ground.
Sellers are in a strong position, but Canfax warns about keeping an eye on U.S. prices that could shift all prices lower.
Cows traded mostly steady last week.
Most D1,2 types held their range from $50-$56 per cwt., with good grain-fed cows quoted at $60-$65.
Supplies continue to tighten through the auction markets. Outlook: steady to $1 lower.
Feeder cattle prices were steady as most rings reported dwindling numbers. Prices are expected to be steady as volumes continue to drop off with grass-fed cattle steady to strong.
Bred cows were $600-$1,200. Bred heifers were thinly tested at $600-$900. Cow-calf pair sales were $750-$1,500.
The bulk of good quality pairs were still from $1,200-$1,400.
Hog prices up
Hog prices in the United States rose again last week, despite reports of reduced packer margins, said Manitoba Agriculture.
Iowa-Southern Minnesota hog prices (top plant, 51-52 percent lean, live equiv.) were $32-$43.25 per cwt. (U.S.), with the mean $38.15 on May 14.
In Manitoba, the Index 100 hog price was estimated at $136 per 100 kilograms.
Some analysts say cash hog prices will peak in June this year.
This may prove correct if average hog market weights and pork production in the U.S. do not soon decline seasonally, Manitoba Agriculture said. Weights are four to five pounds above average. Watch the USDA’s cold storage stock report for a supply update.
At projected prices for finished hogs this fall, there is no profit in feeding weanlings priced at $48-$50 per head (U.S.), so weanling prices will likely drop over the next few months.
Some Manitoba weanling producers received up to $50 per head (U.S.) for 50 lb. feeder pigs and about $35 per head for 21-day, 12 lb. isolation-wean pigs last week.
“With U.S. operations willing to pay these prices for Manitoba weanlings, it is not surprising local hog feeders have had difficulty obtaining weanlings,” the department said.
