Slaughter cattle market varied
SASKATOON (Staff) – Slaughter cattle prices were under pressure all last week, with bids as varied as weights and quality.
Canfax reports very few cattle sold at the top end of the market and not many went to the kill floor.
Some lighter-weight cattle (1,060 to 1,250 lbs.) were even bought to go back on feed, with buyers gambling October futures will rally enough to cut into feeding losses, Canfax reports.
Total Canadian kill was just over 52,000 head.
That indicates there’s plenty of beef in the pipeline and wholesale beef prices were off by two to three cents this week, reflecting steadier supply. Canfax says retailers see lots of meat in the system and therefore feel they can be picky about what meat they select to feature.
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The cow market has finally caught up with the fed cattle market. D1 and D2 cows were $2-4 per cwt. lower, trading between $53 and $65, with top sales to $68.25. Plainer types were lower still, but grain-fed cows are enough of a rarity to fetch premiums.
Fall run begins
On the feeder side, it looks like last week marked the beginning of 1994’s fall run.
Canfax reports volumes were up 88 percent from last week and nine percent over the same week last year.
Satellite and videotape sales had 12,000 head on offer, most of those being 800-lb. plus feeders.
Steers weighing 800-900 lbs. traded from $103 to $115; 900-plus lb. steers were $99-$108. Shortkeep heifers from 700-800 lbs. were $105-$112.50 and those weighing better than 800 lb. were $99.25-$108.75.
