Fed cattle up
Fed steers were $2.25 per hundredweight higher last week while heifers
were up $2.
Prices were strongest later in the week. Feedlots were willing
sellers, given the higher prices and increasing cost of gain.
For the week, 21,700 head sold, up 18 percent from the previous week.
Most of the strength came from western packers, but some cattle went to
the United States.
Alberta prices Aug. 15 were steers $90.75-$94 per cwt., flat rail
$152.50-$154.40 and heifers $92.25-$93.75, flat rail $152.50-$153.70.
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Wholesale beef prices for Montreal are steady at $154-$155 per cwt.
while the Calgary market is steady to $1 higher with steers at
$148-$150 and premiums on AAA to $154 or more as the choice-select
spread widens in the U.S.
Plants report beef movement as good for this time of year.
Canfax said smaller supplies of fed cattle should keep the market
firmer over the next while. Feedlots should sell cattle on schedule
due to higher feeding costs and discounts on heavyweights.
Feeder prices higher on all classes
Steers and heifers were $1.25-$3.25 per cwt. stronger on most weights,
but both were $6.75 stronger on calves 300-400 lb.
Strong buying interest and the stronger fed market led to more
aggressive bidding.
Volumes for the week were 20 percent larger than the previous week at a
little more than 29,000 head.
Slaughter cow prices this week averaged $1.25 per cwt. higher, at
$55.50.
Canfax said prices should remain near these levels.
However, the number of American bidders might fall over the longer term
when the U.S. feeder run gets under way, leaving prairie feedlots to
buy more of the cattle.
Increased feed grain prices as well as feed availability issues will
likely pressure feeder prices into the fall.
In stock cow trade, fewer cow-calf pairs were reported.
The bulk of the trade on pairs was $1,100-$1,400, with highs to
$1,575. More common types traded at $900-$1,050.
Hog prices fall
The seasonal increase in hog marketings meant falling hog prices last
week.
Ribs, picnics and bellies bolstered the U.S. pork cutout value, which
did not drop to the same extent as hog prices.
The Iowa-Minnesota daily direct hog price (plant mean, 51-52 percent
lean, live equivalent) fell from $36.58 US per cwt. Aug. 12 to $35.25
on Aug. 15.
On average, the week’s hog price was four to five percent lower than
the previous week’s price.
After rising the previous week, Iowa and central U.S. direct-delivered
early-weaned pig (10 pound) prices were down by $2.73 per head to an
average of $18.38 per head. The overall price range was $5-33 per 10
lb. pig.
Demand for heavier weanlings was even less.
