Cattle prices on way up
SASKATOON (Staff) – Slaughter cattle prices in Alberta broke through $80 per hundredweight last week, for the first time since January.
Canfax reported trade opened on a strong note and crossed the $80 barrier July 17, pushed by Ontario packers.
Canfax also reported strong local and U.S. demand for cattle, generated by tighter overall cattle supplies. Feedlots are current and supplies over the next few weeks will be limited.
Overall, weekly average prices were up by $1.50-$2 per cwt., with sales on July 18 of steers from $78-$79.60 and heifers at $78-$80.25.
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Total volume for the week was almost 15,000 head, up five percent from the previous week.
Wholesale meat prices were steady, Canfax said, after a five-cent increase the previous week that brought them in line with increases in live cattle prices.
The Montreal wholesale settled at $160 while Calgary traded between $127 and $135.
Slaughter cow prices steady
Slaughter cow prices were stable too, with demand steady. Cow numbers caused packers to keep prices competitive. D1 and D2 cows were traded from $42-$52, with top prices paid to $55.75. Railgrade bids ranged from $85-$90.
Feeder cattle prices were also stronger, responding to strength in the slaughter prices and lower feedgrain prices.
Feedlots are looking to fill extra pen space, making buyers aggressive even though the number of cattle on offer was nearly one-third larger than the previous week.
