Cattle prices slip with big volumes
SASKATOON (Staff) – Slaughter cattle prices opened another week of big volumes at higher prices on May 13.
While Canfax said a healthy 22,000 head sold to buyers from Alberta, Ontario and the United States, prices were unable to hang onto early gains, slipping by $2 per cwt. by the end of the week.
Canfax said local packer buying was not as aggressive, which helps explain the 5,000 fewer head of cattle sold.
Trade on May 16 had steers bid from $70.60-$72.40 while heifers were bid from $69.65-$71.90.
Read Also
Food vs. fuel debate simmers in the background
The OECD/FAO are forecasting that 27% of the global cereals crop will go to biofuels and other industrial purposes by 2034.
On the retail side, Canfax said beef prices have slipped far enough to make beef a better deal than pork or poultry. Large kills mean there is plenty of product in the system, and prices are enough incentive for retailers to continue and sustain the brisk sales.
The higher prices in fed market were reflected in the slaughter cow market last week, Canfax said, with fewer top quality cows and a smaller overall kill also keeping prices firm. D1 and D2 cows were bid from $38-$50 per cwt. on the hoof, while railgrade bids were at $80 per cwt.
Feeder cattle up
The tailing off in the fed market and rebound in feed grains prices didn’t seem to hurt the feeder cattle market last week. Canfax reports prices are stronger on active buying, especially in the 600-pounds and over categories. Prices for lighter feeders were flat.
Trade in bred stock is limited, with cows priced from $450-$850 and pairs from $500-$940.
