SASKATOON (Staff) – Canadian slaughter cattle prices felt the weight of lower American prices and a softer overall tone in the market, especially compared to the previous week’s six-month high of $80 per hundredweight.
Canfax reports average slaughter cattle prices were $1-$1.50 per cwt. lower, with prices on July 25 for steers bringing $77-$79. Heifers were bid from $76.50-$77.65.
While fewer cattle were on offer in the Alberta market – at 14,000 head – Canfax said the decline in the U.S. cash market made Americans reluctant buyers by the end of the week, even though several loads went south earlier.
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Local packers also seem comfortable with inventory, Canfax said.
On the retail side, beef movement has been good in the past few weeks, but Canfax said it appears an August slowdown is looming. Fewer retail orders are coming in past the upcoming August long weekend.
Canfax said while the numbers of cattle-on-feed in the U.S. and Canada are predicted to tighten later in August, there’s obviously still enough supply for packers to bid down prices as they did this week.
Average slaughter cow prices were about 50 cents per cwt. lower this week, although price ranges remain steady. Heavier volumes caused the drop, Canfax said.
Feeder cattle prices on lighter classes were steady, even though numbers traded were up 50 percent compared to the previous week and two-thirds bigger than the same time last year.
Canfax said plenty of heavier cattle came off grass, likely drawn by higher prices. Those weighing more than 700 lbs. were $1-$2 per cwt. higher.
