Feeder cattle prices dip
SASKATOON (Staff) – Fed cattle opened the week on a negative note, losing $1.50 to $2 per hundredweight. Heavy volumes of 18,000 head, 6,000 head more than mid-June, meant prices weren’t able to recover any of the loss.
Canfax said most packers have adequate supplies. American interest was steady, with most cattle heading to Washington state, while Ontario buyers also picked up a few loads. Trade on June 29 had steers priced between $78.50-$81.20. Heifers were priced between $78.30-$80.35.
On the positive side, beef movement was steady, fuelled by good demand. That may change if July retail demands follows its normal downward pattern, Canfax said.
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Slaughter cow trades were steady to $1 lower for the week. July is typically the month where cow prices peak and a seasonal increase could be expected, but cow kill has been running ahead of year-ago levels.
Canfax said that means any peak this year could be muted, especially given the tough feed market. D1 and D2 cows were priced between $45-$58 per cwt., with top sales to $59. Railgrade bids were $98-$100 per cwt.
Feeder cattle prices were barely steady to $1 per cwt. lower this week. Pressure on the fed cattle market and barley prices at $3 a bushel pushed feeders down, Canfax said.
Number of calves on offer is high compared to a year ago – 11,923 vs 4,345. Some calves are moving off grass; demand for quality types remains strong. Off-types traded at wide discounts.
