Slaughter cattle remain strong
SASKATOON (Staff) – Continued strong demand kept slaughter cattle prices in step with the previous week’s strong showing.
Averages on steers and heifers were a dollar higher as most sold in the higher end of the range.
As of Aug. 15, steers ranged from $82.40-$83.50 and heifers $82-$83, according to Canfax in Calgary.
The outlook for this week was for steady to slightly weaker prices due to packers’ inventory buildup.
Beef movement was mainly unchanged last week. Montreal wholesalers were bidding $162 and this week’s settlements were up a dollar. Local Calgary wholesales were $128-$135 with this week steady.
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The feeder market was $1-$2 higher over the week with most cattle in the upper end of the range.
Quality was excellent and buyers were aggressive. Volume was up 120 percent over the week before. Compared to a year ago, volume was up 81 percent.
Canfax says the size of trade has kept a lid on prices, but hasn’t caused any slipping.
The U.S. feeder cattle futures markets were stunned early in the week by the USDA’s reduced estimate of corn production, but they made a good comeback later in the week.
Lambs in demand
Meanwhile, the Saskatchewan Sheep Development Board reported good demand for fat lambs at 90-130 pounds and feeder lambs 60-90 lbs. Lambs were selling at $1.14 a pound live weight, slaughter sheep at 34 cents and goats at 60 cents.
