Fed cattle price drops
CALGARY (Canfax) – Fed cattle prices fell by $2 this past week.
Volume offers increased by seven percent to more than 14,000 head sold. Bids were far from aggressive, as local packers were more comfortable with their inventory. U.S. interest was non-existent with Canadian prices still over the “U.S. equivalent”. Weights were lower because feedlot marketings are becoming more current. Trade on Dec. 1 saw steers at $85-$87.90 and heifers at $84.85-$87.25.
Cow prices were strong with premiums on the top quality grain-fed cows.
Strong demand for cow beef (partly due to the Australian hold) has helped local prices. D1 and D2 cows traded between $48 and $59 per cwt., with sales to $62.50. Cows on the rail were $95-$113.25.
Pressure in the fed market and higher barley prices pushed feeder prices lower late in the week, especially on heavier calves. Volumes on offer were down.
