SASKATOON (Staff) — There were both good and bad signals in the cattle market last week.
First, movement remained steady with previous weeks and the Canadian kill is estimated at 50,000 to 51,000 head. That’s good. Especially for August, Canfax said in its weekly report, when slaughter numbers often fall off, indicating a slowdown in beef trade. Wholesale beef prices in Montreal and Calgary are also holding steady — another good sign.
Demand for slaughter cows is yet another bright spot. Even with a few more head going to market from dried-off pastures in southern Alberta, the U.S. boneless beef price is up, giving Canadian packers a bit more leeway on their margins.
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It seems the run of grassfed feeders has started, with bigger numbers on offer fetching steady prices. Canfax said feedlots are anxious to fill up empty pen space to have cattle ready to sell later in the year when a rally in prices is forecast.
The bad news, however, is that slaughter cattle prices were down about $3 per cwt. by the end of last week. Packers were particularly picky about heavyweight feeders and Canfax reports they refused to bid on some lots at all. Overall, fed heifer prices averaged out higher than steer prices last week.
Sheep prices
The Saskatchewan Sheep Development Board reports the following prices: slaughter lambs over 80 lbs. at 98 cents per lb., feeder lambs under 80 lbs. at 94 cents and cull sheep at 28-32 cents. Breeding stock are selling for $80-$125 per head. Initial price for domestic wool is 50 cents per lb. while range wool is at 70 cents to $1 per lb.
