Fed cattle stronger
Fed cattle prices gained $3.75 per hundredweight on average thanks to the start of the fed cattle set-aside program.
Some trade was nearly $5 per cwt. higher than the previous week, said Canfax.
Due to the Thanksgiving holiday, trade did not start in earnest until mid week, but bids climbed as time went on.
Alberta prices Oct. 15 were steers bringing $78.50-$80.25 per cwt., flat rail $132-$134.15 and heifers $78.50-$80.25, flat rail $132.
Slightly more than 2,000 head were accepted in the set-aside program out of the 11,500 offered.
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The volume that traded through Canfax members was nearly 21,000 head, down nine percent from the week before, indicating that producers were willing to take a wait and see attitude to selling cash cattle.
Canfax said the number of market-ready cattle was not a big burden and with the set-aside now functioning, the market’s new strength should hold.
Canadian wholesale beef prices were mostly $4 lower as sluggish business heading into the holiday weighed on prices of all cuts, said Canfax. Prices should recover if U.S. trends are followed. Smaller kills in the U.S. led to cutouts gaining almost $7 US on the Choice light while Select was up $5.25.
Carcass wholesale pricing in Alberta was light ranging from steady to $2 higher. The Calgary range for this week’s delivery is $136-$138. The holiday reduced the amount of beef supply, making room for product from the higher cash cattle prices.
Feeder prices climb
About 50,000 head traded through Alberta feeder auction markets during the holiday-shortened week, down six percent from the week before.
Canfax said the smaller volume and stronger fed prices led to stronger prices for feeder steers.
Steer calves 300-500 lb. were $1.50-$2 per cwt. higher, while 500-800 lb. were 25-50 cents stronger. Steers 800-900 lb. were $1.25 higher with some trade almost at $100 per cwt. Steers 900 lb. and heavier were up 75 cents.
Heifer prices were mixed with light calves $2.25-$2.50 higher and 500-600 lb. traded 50 cents stronger. Heifers 600-800 lb. were down 25 cents to $1.50. Increased buyer interest on 900 lb. heifers brought averages up $1.75.
D1, 2 cows and butcher bulls traded steady to 50 cents per cwt. higher.
Canfax said volumes are anticipated to increase as producers start to wrap up harvest and concentrate on weaning.
The number of buyers will have to increase to match rising volumes to keep prices stable.
Stock bred cows in central Alberta were $310-$520 while bred cows and heifers in northern Alberta were $340-$790. Cow-calf pairs on light volume in northern Alberta were $390-$790.
Feedlots fill up
Canfax’s feedlot survey showed placements in September up 11 percent from 2003, at 325,842 head.
Placements increased in all categories with less than 600 lb., up 25 percent at 47,158 head, 600-700 lb. up 34 percent at 32,242 head, 700-800 lb. at 47,819 head up 35 percent and 800 lb. and heavier up one percent to 198,623 head.
Total cattle on feed for Alberta and Saskatchewan for surveyed terminal feedlots with more than 1,000 head for Oct. 1 was up four percent from last year at 737,176 head.
The survey group marketed 149,222 head, or 73 percent of the total marketings of 204,687 in Alberta and Saskatchewan.
Marketings in September were up 13 percent from 2003.
Cash hogs fall
The U.S. Department of Commerce announced preliminary duties on live swine from Canada. Details of that news are elsewhere in the paper. U.S. hog futures rose on the news.
Cash hog prices fell last week on both sides of the border.
U.S. packers entered the week with light inventories and anticipated good demand, said Manitoba Agriculture.
The lighter supplies caused prices for almost all pork cuts to appreciate slightly early on but larger slaughter numbers through the week caused prices to decline. U.S. wholesale pork cutouts rose to $75.20 US per cwt. on Oct. 15.
The weekly average Iowa-Minnesota daily direct hog price (Monday to Thursday, 51-52 percent lean carcass converted to live weight) was about 3.5 percent lower at $52.50 per cwt. on Oct. 16.
Quality lambs rise
Ontario Stockyards reported 2,334 sheep and lambs and 424 goats traded. Good well-fed lambs and sheep sold steady, while the plain and grass types sold under pressure.
Good goats sold at stronger prices.
