Fed cattle up
Fed cattle prices rose last week as feedlots cleaned out heavier cattle. The price range was wide, reflecting the mix of heavy animals.
In Alberta, the Oct. 16 price for steers was $81-$85.80 per hundredweight and heifers $81.25-$87.75.
Expect light supplies for six-to eight weeks with firm prices and narrow margins, according to Canfax.
“It will be tempting to feed grass cattle longer to try and bring their break-evens down, but from a market perspective, we don’t need any extra cattle to sell in December,” says Canfax.
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Slaughter cow prices dropped $3-$4 during the week and strong supplies mean pressure will continue.
With fed cattle prices up, packers will try to boost wholesale beef prices, but Canfax thinks they will meet resistance and packer margins will slip into the red.
Feeder cattle prices held steady last week despite heavy volume and rising barley prices. Canfax says the large numbers should continue through October. If barley rises again, it might pressure prices, but so far a downturn is not expected.
Hogs up and down
Hog prices fell early last week with U.S. cash price hitting new annual lows at $43.50 (U.S.) per hundredweight but rose later with the Omaha close Oct. 17 at $46 per cwt.
Sheep fall slightly
The sheep price range at Canada West Foods in Innifail, Alta., slipped a little last week. Base railgrade for slaughter lambs was $2.10 per pound. Live weight lambs 90-110 lb. were $1-$1.04 and 110 lb. and heavier were 95 cents to $1.
Slaughter sheep liveweight are 35-42 cents a lb. Goat prices were unavailable.
