Steer, heifer prices up slightly
SASKATOON (Staff) – Slaughter cattle prices had a mixed week, with prices down early but up later as more buyers stepped into the market.
Canfax reported average prices were up by about 50 cents per hundredweight, to $79-$81 per cwt. for steers and $79 for heifers on Oct. 19.
By midweek, sales had firmed by $1 per cwt. as bids from Alberta packers perked up and some American buyers were also in the market, Canfax said. Overall, 10,000 head were sold.
American prices appreciated last week by about $1 (U.S.) per cwt. U.S. packers were being selective, wanting only the better-grading cattle. Bids ranged from $65-66 per cwt.
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Feedlots didn’t sell all cattle on offer, but analysts say the carryover won’t burden the market because record sales during the third week of October cleaned U.S. feedlots out of their market-ready cattle.
Later calf run
Calf prices continued to be pressured last week, while yearling prices held firm and were higher in spots. Canfax said the calf run is much later this year compared to last.
Volumes on offer were down nearly 30 percent compared to the previous week and by nearly 60 percent compared to the same week last year.
Overall, Canfax said sales for the first three weeks of October are down by nearly 30 percent.
Steer calves weighing 600-700 pounds averaged $86.75 in southern Alberta; $88.38 in central Alberta; $87.75 in northern Alberta; $90.70 in Saskatchewan; $92.75 in Manitoba and $85.57 in B.C.