Fed cattle prices up
Fed steer average prices were $1 per hundredweight higher last week
while heifers were up $2, Canfax said.
Volume sold was moderate for the time of year at a little more than
17,000 head, but that was down 10 percent from the week before.
There is no backed-up supply and feeders have excellent bargaining
position, Canfax said.Most view the strong basis as a good reason to
keep selling. The weak Canadian dollar also supported the tone.
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Alberta prices Jan. 17 were steers $105-$105.25 per cwt., flat rail
$177.90-$178.35 and heifers $104.25-$107.45, flat rail $177-$178.
Beef movement is normal for this typically slower time of year. Packers
are cutting kill shifts and days to help manage the slower movement.
Average steer carcass weight two weeks ago was 847 pounds, 20 lb.
heavier than the same week last year.
Montreal wholesale beef prices this week increased by $5 to $176 per
cwt. The Calgary market was steady to $4 higher on handyweight
carcasses at $171-$181 and steady to $6 higher on heavy carcasses at
$167-$170.
Canfax said prices are expected to remain steady to higher over the
next few weeks.
Feeder prices increase
Feeder prices were stronger for lighter steers. Prices on calves less
than 700 lb. increased $3-$5 per cwt.
Heavier feeder steers were steady to 50 cents lower.
Heifers saw the same pattern with lighter heifers 75 cents to $5 higher
and heifers heavier than 700 lb. down $1-$1.50.
Total volume was almost three times as large as the previous week at
52,000 head, but still three percent smaller than last year.
American bidders were active.
Slaughter cow prices decreased $1, with larger volumes trading.
Canadian cow slaughter is up nine percent in the first two weeks of
this year compared with last year.
Feeder prices should remain mostly steady to stronger over the next few
weeks, especially on the lighter types.
Look for large swings in prices, depending on quality and type.
Backgrounded cattle are expected to be steady with the U.S. market
providing the floor.
Stock red cows were $1,000-$1,300, with some plain types trading as low
as $850.
Medium quality heifers were $800-$1,200 and good bred heifers were
$1,200-$1,375. No cow-calf pairs were reported sold.
Pork prices rise
Pork cutout values in the United States rose $1.19 US per cwt., which
allowed packers to pay more for hogs.
The Iowa-southern Minnesota hog prices (plant mean, 51-52 percent lean,
live equivalent) went from $37.08 per cwt. Jan. 14 to $38.86 Jan. 17, a
4.8 percent increase.
Manitoba Agriculture said markets were also supported by traders’
estimates of lower stocks of frozen pork in storage.
The stronger U.S. markets and lower Canadian dollar supported Canadian
hog prices, but the price was moderated by the effect of producer
contracts based on the previous week’s lower U.S. prices.
