Fed market firms
Packers’ appetites improved somewhat last week and the demand pushed fed steers up by 25 cents per hundredweight and heifers by $1.25.
Canfax said most producers were willing sellers, but talk of a possible government program encouraged producers to reassess and offer only those animals that needed to move.
Slightly fewer than 16,500 head traded, with most of the trade taking place mid-week.
Alberta prices Aug. 19 in limited trade were steers $64-$64.75 per cwt. and heifers $113 dressed.
Canfax said expectation of a government program may give cattle feeders increased bargaining power that could help firm prices. Producers may take a wait and see attitude, moving only their immediate needs instead of pulling cattle forward in fear of a lower fall market.
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Canadian beef cutouts came under pressure with AAA product down slightly more than $2 and AA product down $1-$1.25.
The Calgary wholesale market was steady to slightly stronger at $130-$132 for this week delivery. U.S. cutouts were up $3.75-$4.50 US, up three to five percent from a year ago.
Feeder market mixed
More yearlings traded, pushing volumes through Alberta auction markets up 59 percent with just under 19,500 head trading, said Canfax.
Averages were mixed on the steers and under pressure on the heifers. However there was a stronger undertone noted at some markets with larger volumes of heavier cattle.
Steers 300-500 lb. on light volumes were down $2.25-$3.50 Cdn per cwt., while 500-700 lb. traded steady to $1 stronger. Steers 700-800 lb. were $1 lower and 800-900 lb. and heavier were steady to 50 cents stronger.
Heifers 300-500 lb. were down 50-75 cents, 500-600 lb. fell $3 and 600-900 lb. were $1-$1.75 lower. Heifers 900 lb. and heavier were down $3.
D1, 2 cows were up $1 and butcher bulls traded steady.
Canfax expects volumes to continue increasing as more yearlings come off grass. Yearling prices will depend on the number of buyers.
Calves are not anticipated to start moving until October.
Stock bred cow and heifer trade was unchanged in northern Alberta, ranging between $275 and $410. Cow-calf pairs in central and northern Alberta were down slightly, trading between $350 and $900.
Hogs prices weaken
Canadian hog prices were lower primarily due to the stronger Canadian dollar and to the increased numbers of hogs available for slaughter on both sides of the border, said Manitoba Agriculture.
U.S. wholesale pork prices fell almost $2 US per cwt. because packers had more than ample supplies to move.
Packers have been processing record numbers. Analysts watched to see if the daily record of 402,361 set on Dec. 22, 2003, would be reached. However, as of Aug. 19, the slaughter numbers remained just below 400,000 head.
The weekly average Iowa-Minnesota daily direct hog price (Monday to Thursday, 51-52 percent lean carcass converted to live weight) decreased slightly to $56.47 per cwt. The lean hog futures prices also fell.
U.S. weanling prices were steady to slightly higher. The weekly national direct delivered early-weaned pig 10 pound weighted average price was $32.53 per pig. The 50 lb. average was $49.10 per pig.
Lambs down sharply
Ontario Stockyards reported 2,707 sheep and lambs and 526 goats traded. All classes of lambs sold at prices $14-$17 Cdn lower. Sheep sold $5-$7 lower. Kid goats sold $5 per head lower, with all other classes selling at steady prices.
