Barley prices hurt calf sales
SASKATOON (Staff) – Feeder cattle prices dropped throughout the past week. Canfax said their descent was influenced by a number of factors. Barley prices continue to climb, limiting prices order buyers and feedlots can afford to pay for calves. The May contract in western barley futures at the Winnipeg Commodity Exchange, for instance, set a new contract high that breached $4 a bushel ($184 per tonne).
Feedlots, besides backing off on price, are also backing off on orders as new calves are in plentiful supply.
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Volumes on offer were down about 20 percent from last week’s record movement of better than 105,000 head, but were still nearly double 1994’s movement.
Steers weighing 600-700 lbs. sold in southern Alberta for an average of $87.57; central Alberta for $88.38; northern Alberta for $86.03; Saskatchewan for $87.80; Manitoba for $88.17 and British Columbia for $77.50.
Stock cow trade started to pick up last week, Canfax reported. Fancy heifers sold from $1,000-$1,100 while plain and good types were priced from $500-$950. Bred cows ranged in price from $450-$950.
On the fat cattle side of the market, Canfax said more steers showed up in the mix, which pressured prices, but heifers were steady. Some heifer carcasses traded at $85 per cwt., a $1.50-$3 premium.
Slaughter cow prices, however, were down sharply: by $2 per cwt. liveweight and $3-$4 on the rail. Canfax said ample supplies are to blame for the drop. D1 and D2 cows were priced between $33-$42, with top sales to $45. Railgrade bids were between $74 and $78.25.
