Feeder cattle strong
A moderate number of cattle traded last week. Feeder cattle were strong compared to a flatter slaughter market. Southern Alberta feeders weighing 500 to 600 pounds were in the $90-$102.75 per hundredweight range compared to last year’s average of $74.69. Steers weighing 400-500 lb. were better at $103-$126. Heifers in the same weight categories ran a few dollars lower.
It appears feedlots with expanded capacity are attempting to fill pens before the calf supply runs out.
Live cattle futures on the Chicago Mercantile Exchange showed an August close of $65.17 and October futures closed at $68.37.
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The western cow trade remains steady with D1,2 cows trading between $45-$58. Overall the western beef trade has been slow with ample supplies of live cattle and beef.
Eastern beef movement is better but warmer weather is needed to encourage demand.
Hog prices to drop
Prices for 100 index hogs closed at $199 per ckg in Alberta, $195 in Saskatchewan and $201.63 in Manitoba. The sow pool price was $164 per ckg. Prices are expected to go lower this week.
Slaughter lambs up
In the lamb market, central Alberta old-crop slaughter lambs were bid at $2.35 to $2.40 per lb. on the rail or $1.20 to $1.25 per lb. liveweight.
New-crop slaughter lambs are higher at $2.55 to $2.60 or $1.35 to $1.41 per lb. liveweight.
In the U.S. midwest, new-crop lambs at 90 to 140 lb. were bid at $96 to $98 (U.S.) per cwt. The U.S. east coast wholesale prices for 55-65 lb. carcasses were unchanged from last week at $189.50 to $190 (U.S.) per cwt.
