Volume, prices down
SASKATOON (Staff) – Fed cattle opened the week at barely steady prices, Canfax said, on light volumes compared to the previous week’s trade. At just 12,000 head, the number of cattle sold was down one-third. Packers seemed comfortable with their inventory throughout the week, which pushed prices lower overall by 50 cents per hundredweight.
American buyers were few compared to the middle of the month, when their influence on the market was more evident. And even with lower prices, local feedlot operators are still selling all but a few loads of cattle.
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Trade on June 22 had steers bid from $80.35-$82.10 per cwt. and heifers from $80.25-$82.
Retail beef trade helped put a solid footing under the slaughter cattle market. While hip and chuck cuts moved slowly, Canfax said beef movement was fairly good this past week at steady money.
Packers were active bidders on grain-fed cows. Prices were steady with previous weeks, but numbers on offer declined. D1 and D2 cows traded between $46-$58, with top sales to $60 per cwt., while railgrade bids were $98-$100.
Feeder cattle numbers dive
Volume of feeder cattle offered for sales was down by nearly 40 percent compared to the previous week, but trade was active on the top end of the offering. Scattered showers through some dry areas have kept some grass cattle at home for now, Canfax said. Demand was good on the good quality calves, but off-types were discounted heavily.
Compared to the same week in 1994, feeder volumes were up by 30 percent.
