Fed market weakens
Fed steers were down $2.25 per hundredweight last week and fed heifers were $2.75 lower, said Canfax.
Packers appeared to be comfortable with their inventory, extending to two to 21/2 weeks.
Canfax members did not report large trades and packers appeared to maintain inventory through non-commercial feedlot trade.
Canfax volume was a little more than 23,000 head, up four percent. Some producers chose to pass cattle.
Most of the trade and the highest prices occurred Sept. 29.
Alberta prices Sept. 30 on light volumes saw steers bring $75.25 per cwt., flat rail $126.75-$127.65 and heifers $75.25.
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If producers choose to hold in anticipation of better prices once the fed cattle set-aside program begins, it will take awhile for the packers to use their own inventory, Canfax said.
Beef prices
Canadian cutouts gained $1.25-$1.75 per cwt. two weeks ago, up one percent, but seven percent below a year ago on AAA product.
Trimmings were lower.
U.S. cutouts were steady to slightly lower. Choice was down 50 cents US, 13 percent lower than last year, while Select was down 71 cents, seven percent higher than a year ago. Canadian business is reported as slow going into Thanksgiving.
The wholesale beef market is steady with Calgary prices at $134-$136 Cdn this week.
Feeder market mixed
Volumes through Alberta auction markets were 34 percent higher with a little less than 68,000 head trading. This was one percent higher than a year ago.
More than 16,000 head traded Sept. 24 alone on the TEAM and Canadian satellite sales.
Prices during the week were mixed, with lighter steer calves stronger and heavier steers and heifers under pressure because of the increased volume and lower fed market.
Steers 300-500 lb. were steady to $2 higher, while 600-900 lb. were $1.50-$2 lower. Steers 900 lb. and heavier fell $1.
Heifers 300-400 lb. traded steady this week, 400-600 lb. were $1.75-$2.25 lower, and 600-700 lb. were down $1. Heifers 700-900 lb. were $2.25-$2.75 lower and 900 lb. and heavier fell $2.
D1, 2 cows and butcher bulls traded steady.
Canfax expects volumes of calves to continue increasing as harvest winds up.
Increased volumes coupled with a decreasing fed market and an appreciating loonie could cause a downward trend in yearlings and calves.
Stock bred cows in central Alberta on light volume traded at $450-$500, while in northern Alberta medium quality bred cows brought $275-$400 and quality animals were $400-$550. Bred heifers in northern Alberta were $275-$480.
Hog markets weaker
Lower prices for wholesale pork cuts and large supplies of hogs were responsible for falling prices in the United States last week, said Manitoba Agriculture.
As usual, Canadian prices lagged behind the U.S. market by a week and so rose, reflecting the previous week’s strength.
The weekly average Iowa-Minnesota daily direct hog price (Monday to Thursday, 51-52 percent lean carcass converted to live weight) was about three percent lower at $60.27 US per cwt. on Sept. 30. The carcass cut-out value was also three percent lower at $74.78 per cwt.
Ron Plain of the University of Missouri noted that carcass weights in the U.S. are declining, perhaps indicating that hogs were sold early and the supply of market ready animals might be lower than expected.
Lamb prices fall
Ontario Stockyards reported 2,960 sheep and lambs and 535 goats traded last week.
Well-fed lambs, all weights, traded steady, while grass lambs sold under extreme pressure. Sheep sold barely steady. Goats held firm.
