Fed cattle down
Fed steer prices dropped $5 per hundredweight and $4.50 on heifers.
About 20,000 head traded but producers were not active sellers. Prices were weakest at the end of the week, said Canfax. Volumes outpaced slaughter needs.
Alberta prices May 20 were steers $77.75-$78 per cwt., flat rail $126 and heifers $75.50-$76.25, flat rail $126.
Fed cattle prices are expected to stay under pressure due to the ample supplies available to packers.
Last week’s Canadian cut-out value gained heading into the long weekend with the AAA up $4 and the AA up $3.50 compared to the week before.
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AA pricing is now similar to where it was a year ago while AAA is still discounted.
The U.S. cutout declined with the Choice down $5.50 US and the Select down $3. Most retailers appeared to have their Memorial Day buying done.
Wholesale beef prices in Canada were down $3-$4 Cdn leaving Montreal at $148-$149 per cwt. and Calgary at $141-$146. Export demand is considered good but domestic demand has slowed, likely due to the higher prices hitting the retail level, said Canfax.
Steady feeder trade
Slightly fewer than 37,000 head of feeders traded in Alberta last week, 74 percent more than the week before and more than triple last year’s volume, said Canfax.
Prices were steady to slightly lower due to the increased volume, reduced buyer activity and the downward trend in fed cattle.
More pressure was noted later in the week and mostly on heavier feeders.
Steers 300-400 lb. fell $1.70 per cwt. on light volumes and 400-700 lb. were 50 cents-$1.25 lower. Steers 700-800 lb. were steady, while 800-900 lb. and heavier were 50 cents-$1.50 lower.
Heifers 400-500 lb. were 50 cents higher, while 500-600 lb. fell 50 cents. Heifers 600-900 lb. and heavier traded $2-$3 lower. D1, 2 cows rose $3.50 and butcher bulls were $2.50 stronger with support found mainly in speculators.
With better moisture, look for more activity in the grass market. On the other hand, heavier feeder cattle will feel the pressure of the sliding fed market, said Canfax.
Buyer activity is volatile and differs at each location.
Stock bred cows in central Alberta were $400-$950 on light trade, and $300-$775 in northern Alberta. Bred heifers on limited trade in the north were $375-$750. Cow-calf pairs were $350-$750 on poor quality and $750-$1,310 on good quality.
Hog prices lower
Lower wholesale pork values and ample supplies of hogs resulted in lower cash prices for hog producers in the United States The carcass cut-out value fell by more than $2 US per cwt.
It appears that some producers increased marketings ahead of the U.S. Memorial Day holiday weekend.
Analysts also suggest that small-scale producers may be selling hogs after recent rain showers halted spring field work.
After reaching record high levels of $63.15 per cwt. on May 17, the Iowa-Minnesota daily direct hog price (plant mean, 51-52 percent, lean carcass converted to live weight) declined $2.30 to $60.85 by May 20.
Heavy lambs and sheep up
At Ontario Stockyards 2,109 sheep and lambs and 210 goats traded. Light lambs sold $5 Cdn lower. Heavy lambs were steady. Good sheep sold steady with plainer types under pressure. Goats sold on a good demand at stronger prices.
