Program’s end spurs deliveries
Fed cattle prices came under slight pressure, but remained in the mid $30s, as volumes increased 48 percent from the week before.
Ottawa’s decision to end its compensation program Aug. 17 caused a lot of uncertainty for cattle feeders and, in turn, caused a flurry of sales, said Canfax.
Alberta prices Aug. 14 on limited volume saw steers and heifers bring $38.50 per hundredweight and flat rail $63.50.
Unless there is a new transition aid program, trade may be limited in the next couple of weeks because packers own 14 days of supply and producers may be less inclined to sell.
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Feeder trade more cautious
Feeder cattle volume through Alberta auction markets was down slightly as producers waited to determine the effect of the border opening, said Canfax.
Slightly more than 5,000 head traded, a decline of 31 percent from the week before.
Most feeder steer prices improved, but those in the 700-800 pound range dropped $1.25 per cwt. and animals heavier than 900 lb. fell 50 cents.
All feeder steers remain $17-$35.50 lower than last year.
All weight classes of feeder heifers came under pressure with prices 25 cents to $4.25 per cwt. lower than the week before. These prices are also $20-$32 lower than this time last year.
D1, 2 cows averaged 50 cents lower than the week before.
Canfax said price pressure might build as more animals reach the stage that they have to be marketed.
There was no trade on bred cows or heifers.
Cow-calf pairs brought $900-$1,125, with most at $1,000.
Pork cheaper
Wholesale prices for almost all pork primal cuts declined over the week, lowering the U.S. pork cutout value by more than $3 US per cwt.
However, packers kept hog prices relatively steady during the week, said Manitoba Agriculture.
The Iowa-Minnesota daily direct hog price (plant mean, 51-52 percent, lean carcass converted to live weight) decreased from $45.03 per cwt. on Aug. 11 to $44.50 the next day, but recovered to $45.71 Aug. 14.
On average, the week’s hog price was two percent higher than the previous week.
Lean hog futures prices for all months, except August, decreased.
