Beef movement is slow
Fed steer and heifer prices rose last week after a slow start. Some sellers passed at the early going so the number traded was small.
Canfax said all packers weren’t convinced the market was higher and ranges between bids on the same cattle were wide.
Prices Jan. 13 were steers $95-$96.25 per hundredweight, flat rail $161.90-$164.65 while heifers went for $96-$97.50, flat rail $164.45-$165 and graded to $167.
Wholesale beef movement is slow and packers in Western Canada are running smaller than regular kills.
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The Montreal wholesale price slipped $1 per cwt. to $168 week while Calgary is down $2 in a range of $157-$172 with tops to $178 on handyweight cattle.
Byproduct values also fell as many of the credits and hides were lower.
American fed cattle traded $1-$2 (U.S.) higher, while feeders were steady and calves traded $1-$2 higher.
Canfax said the firmer U.S. market and a higher local market late last week should see prices generally higher this week. The market is in a fine balance between supply and requirements. Trade in the mid $90s is likely to continue over the next 30 days.
Cow prices were pressured last week as they followed the lower trend in fed cattle and sluggish meat movement.
Most quotes fell $2-$3. Small numbers are moving through the auction markets. D1, 2 cows were quoted from $50-$58 with sales to $64 on good grain-fed types.
Sales of feeders and yearlings were strong thanks to excellent demand. Sellers took advantage of good prices and placed more cattle than normal this time of year.
Some producers who bought cattle for tax reasons late last year have turned around and sold the same animals.
Steers weighing 550 pounds averaged just over $148, a $4 increase from the week before. The 850 lb. steers averaged almost $119 in Alberta, a jump of more than $6.
Canfax said prices are expected to remain steady on all weight categories and numbers should pick up.
Stock cow trade was light. Bred cows ranged from $750-$1,350. Bred heifers were $800-$1,270. There were few cow calf pair quotes at $1,1,00-$1,340.
Fewer U.S. hogs on market
The Iowa-southern Minnesota hog prices (plant top, 51-52 percent lean, live equivalent) Jan. 14 price range was $30.75-$41 (U.S.) with a mean of $37.88, up 81 cents from the previous Friday.
Weekly hog slaughter was up 17,000 from last year, which is significant considering the Dec. 1, 1999 number of total hogs on farms is four percent lower than in 1998. The market is in a good situation, led by strong retail demand and supported by good packer profit margins, tight pork supplies and favorable cut-out prices, said Manitoba Agriculture.
Bison females over $4 per lb.
Kramer Auction Sales Jan. 10 sale results:
Females born 1999, 351-400 lb., 21 head were $1,425-$1,900, $4.50 per lb.; 401-450 lb. 42 head, $1,550-$2,150, $4.48 per lb.; 451-500 lb. 28 head, $1,850-$2,550, $4.48 per lb.
Females born 1998, 16 head, $1,700-$2,900, avg. $2,131.
Bred females born 1997, 31 head, $3,500-$6,300, avg. $4,248. Mature bred females, 20 head, $3,650-$5,600, avg. $4,340. Males born 1999, 351-400 lb. six head, $820-$980, $2.40 per lb.; 401-450 lb. 17 head, $930-$1,030, $2.33 per lb.; 451-500 lb. 14 head, $970-$1,110, $2.40 per lb. 1998 bulls, three head, $1,300-$1,600, $1.85 per lb. Wood bison 1998, two head, $1,800-$3,800, $3.01 per lb.
