Fed cattle down
Fed cattle prices were down $2.50 per hundredweight, Canfax said.
Limited and selective packer demand for the numbers offered meant more supply than demand.
Many of the cattle offered had already been to market once or twice in previous weeks. This time, producers reluctantly sold because carcass weights are climbing. Most bids carried overweight discounts.
Lighter cattle or cattle with more days on feed tended to bring the top of the price range.
Alberta prices Nov. 13 were steers and heifers $81.75-$85.75 per cwt. flat rail $136.50-$138.
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The domestic beef market slowed again as demand from retail and food service remained uncertain.
Wholesale prices fell $4, Montreal ranged from $148-$150 and Calgary was $141-$144.
Since the border reopened, beef exports have totalled 116.2 million lb. Exports to Mexico increased 1.66 million pounds to total 7.3 million lb.
U.S. cutouts floundered, losing $2.25-$42.50 US on choice and select cutouts.
As beef sales and demand slow heading into Christmas, it may be a struggle to keep kills over 60,000 head per week nationally, Canfax said. This will make it difficult for feeders to get their weights down to a more current level.
Feeder prices weaken
Alberta’s auction market volume increased by 20 percent.
Slightly more than 96,000 head traded, up 30 percent over the same week last year. It was the first time volumes exceeded last year in five weeks, Canfax said.
Feeder prices softened slightly, probably due to larger numbers.
Steer calves lighter than 500 lb. traded fairly steady compared to the previous week, but were $1-$3 higher than a year ago.
Feeder steers were weaker, trading $1-$3 per cwt. lower, but 50 cents-$6.25 lower than a year ago.
Heifers were down 50 cents-$2.25, with the exception of the 500-600 lb. class, which was $1.50 higher.
D1, 2 cows traded steady with the week before.
Volumes should increase this week, but weaker demand may result in volatile pricing, Canfax said. Also, a wider variation may be seen between quality and poor quality calves.
The weaker fed market will also pressure the feeder market.
Bred cows traded between $550-$1,050 with the bulk of the trade at $600-$900. Bred heifers ranged between $700-$900. Cow-calf pairs were $800-$900 on very light trade.
Feedlots slowly fill
Alberta and Saskatchewan cattle-on-feed numbers have risen again.
Total number of cattle on feed for Nov. 1 increased 28 percent from Oct. 1, but was down 29 percent from Nov. 1, 2002.
Placements continued to be mostly of heavier classes with the 800 lb. and heavier increasing 42 percent over last year, 700-799 lb. down 59 percent, 600-699 lb. down 20 percent and 600 lb. or less down 39 percent.
Placements in October were down 20 percent from last year.
Marketings in October were down 25 percent from last year, and domestic fed slaughter was down 13 percent from the year before.
Pork demand up
The U.S. pork cut-out value increased $1.92 US per cwt. over the week, as retailers responded to consumer demand for pork.
All primal cut prices were higher, except loins, which were five cents lower.
The strong demand translated to higher hog prices, about $2 per cwt. for live animals.
The Iowa-Minnesota daily direct hog price (plant mean, 51-52 percent, lean carcass converted to live weight) increased from $36.47 per cwt. on Nov. 10 to $38.50 on Nov. 14.
U.S. prices were up about 5.5 percent, regaining ground lost the previous week.
Live hog futures prices were up in all contract months.
Manitoba Agriculture said analysts believe that the pork market is finally turning the table on beef, attracting retail customers that don’t like high beef prices or who can’t get as much as they need.
The stronger Canadian dollar offset the strong U.S. gains.
Sheep, goats steady
Ontario Stockyards Inc. reported that 1,981 sheep and lambs and 218 goats traded.
All classes of sheep and goats sold at steady prices, while good grain-fed lambs, all weights, were steady to stronger.
