Fed cattle weaken
Fed cattle price averages fell 50 cents-$1.50 per hundredweight last week due to a weak start but there was a firmer tone by week’s end.
Volume increased by 23 percent over the previous week at slightly more than 26,000 head. A few cattle coming off set-aside were in the mix. Feedlots continue to sell fairly aggressively.
Alberta prices May 26 in light trade were steers $77.50-$78.50 per cwt., flat rail $128.35-$130.65 and heifers $77.80-$78.
Interest in the set-aside program appeared to increase with 49 bidders taking part, said Canfax. The average accepted daily feed cost was $1.26, up from $1.19 the previous week.
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Carcass weights fell to 801 lb. on steers, a contra-seasonal drop, indicating feedlots are willing sellers even with the set-aside program.
Canadian cutouts were down slightly following the U.S. lead with AAA cutout two weeks ago at $184 per cwt., down seven percent from $198 a year ago.
The Canada-U.S. cut-out spread widened to 11 cents per cwt. last week (Canada under). U.S. cutouts were $5.60 US per cwt. lower on Choice to $151 while Select was $1 lower to $140. The Calgary wholesale carcass price for this week’s delivery slipped by $2-$4 per cwt. to $133-$135 Cdn. Beef sales were considered slow partly due to the cold, wet weather.
Light feeders steady
Feeder cattle prices were mixed as volumes and quality started to taper off heading into summer, said Canfax. Lighter weight classes generally held steady while heavier classes were steady to $1 lower. Buyer demand was still considered good although the base is getting thinner.
Volumes through Alberta auction markets were down 37 percent, at slightly more than 23,000 head, but still 46 percent larger than this time last year.
Slaughter cows were steady to firm while bulls were barely steady.
With feedlots fairly full and set-aside cattle taking up pen space, little change is expected in the heavier end of the feeder market.
Nevertheless, buyers appear ready to refill pens when they empty, said Canfax. Lighter cattle will likely stay strong, especially where rains have improved pasture conditions. Volumes are expected to be smaller in June and more calf set-asides could start to trade as the Oct. 1 no-slaughter date nears.
Cull cow prices should be steady in the short run but could see price pressure depending on grass conditions over the next couple of months.
Stock bred cows were $350-$600 with an extreme top of $1,250. Cow-calf pairs of medium quality brought $400-$750 and top quality $750-$1,200.
Hog prices weaken
Cash hog prices in the United States fell last week as packers finished satisfying Memorial Day holiday needs and started to scale back operations.
Iowa and southern Minnesota cash hogs at plant fell to $49 US per cwt. May 27 from $52 May 23.
Pork prices also fell. The U.S. Department of Agriculture composite pork carcass cut-out value fell to $70.22 per cwt. on May 26 from $80 on May 19.
Canadian hog prices also fell.
Weaner pig prices for the week ending May 20 in Manitoba saw five-kilogram pigs top bids of $63.09 Cdn per pig while contract prices reached highs of $43.67 per pig.
Spot prices for 23-kg pigs were to a high of $98.42 per pig and tops for contracts $73.19 per pig.
U.S. national direct delivered prices for five-kg pigs were $37.59-$68.14 Cdn per pig and 23-kg pigs were $85.80-$100.94.
Lamb prices drop
Ontario Stockyards Inc. reported that 1,718 sheep and lambs and 158 goats traded last week. All classes of lambs sold $10 per cwt. lower. Sheep and goats sold at steady prices.
