Fed cattle weaker
Average fed cattle prices were $2 per hundredweight lower last week.
Markets were quiet early in the week because feedlots cleaned up their show lists the previous week, said Canfax.
There were wide price ranges because of the variance in yields and days on feed. There were cattle from 80 to 180 days on feed. Long fed, high yielding cattle fetched the highest prices.
Alberta prices Dec. 9 were steers $81.30-$83.55 per cwt., flat rail $139.55-$140 and heifers $80, flat rail $140.
Canfax expects the supply of market-ready cattle will remain tight this week.
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Cattle prices in the United States fell last week to $85 US from $90. This widened the Canada-U.S. basis, although the weaker Canadian dollar offset some of the effect.
Wholesale beef prices fall
Canadian cutouts generally fell with the most pressure on the light AAA, down $4.50 Cdn per cwt.
The other cutouts ranged from 70 cents higher to 90 cents lower.
It is expected that the recent smaller kills and the lower Canadian dollar will help movement and pricing.
Better movement was noted, especially on chuck cuts.
Cutouts in the U.S. were $5 US lower on Choice and Select.
Canadian wholesale carcass prices were steady to $1 Cdn lower for this week’s delivery, with Calgary at $141-$145 per cwt.
Feeder prices mixed
Alberta auction market volumes rose 17 percent from the week before with slightly less than 55,000 head trading, 39 percent more than a year ago, said Canfax.
Averages on steers were mixed with heifers mostly steady to slightly higher.
The few steers at 300-400 lb. were $4.50 per cwt. higher. Steers 400-600 lb. fell $1.50-$2.25, while 600-800 lb. traded steady to 50 cents higher. Steers 800-900 lb. rose $1.25 and 900 lb. and heavier were up 75 cents.
Heifers 300-400 lb. fell $2, while 400-500 lb. were $2 higher. Heifers 500-600 lb. were steady, 600-800 lb. traded $1.25-$2 higher, and 800-900 lb. and heavier rose $1.
D1, 2 cows and butcher bulls were slightly lower, Canfax said.
Feeder volumes are expected to be lower for the rest of the month but there should be lots of buyers due to year-end tax planning purchases and general optimism about the U.S. border.
Bred cows
Stock bred cows were mostly $600-$900 on medium quality with some sales in southern Alberta up to $1,285.
Poorer quality bred cows fetched prices as low as $250.
Most bred heifers traded at $700-$950 with highs in southern Alberta up to $1,385 and lows to $250.
Cow-calf pairs in central Alberta were $700-$860.
One million on feed
On Dec. 1, the number of cattle on feed in Alberta and Saskatchewan was 1.037 million head, up 10 percent from the same month last year and also the largest on feed total since Dec. 1, 2002.
The last time the cattle on feed inventory was larger than one million head was in March 2003.
Marketings in November were 179,296, which was 43 percent larger than the same month last year and the largest monthly total for the survey group since August 2003.
The total slaughter in Alberta and Saskatchewan during November was 212,633 head, said Canfax.
The survey group, consisting of finishing lots with more than 1,000 head, made up 81 percent of the total slaughter. Last year that was only 76 percent because more cattle were being finished outside of the larger lots.
Placements were up 37 percent over last year.
Cash hog prices fall
U.S. live hog prices fell sharply last week in line with the usual seasonal weakness. The average Iowa-Minnesota daily direct hog price (51-52 percent lean carcass converted to live weight) fell by about six percent from Dec. 6 to Dec. 9, dropping to $58.38 US per cwt. Wholesale cut-out price was $6.13 a cwt. lower than the week before at $74.08 per cwt.
Lower cash prices sent all the Chicago lean hog futures prices lower.
Canadian cash hog prices rose, reflecting the one week lag between the U.S. and Canada.
Weanling pig prices are breaking all records in Manitoba. Spot prices for iso-weans (five kilogram pigs) are almost the same as contract prices for 23 kg feeders. For the week ending Dec. 3, five kg pig spot prices climbed to $71.15 Cdn per pig while contract prices reached highs of $52 per pig. Spot prices for 23 kg pigs were to a high of $97.20 per pig and top contracts were $73 per pig. The U.S. national direct delivered price range for five kg pigs (converted to Canadian dollars) was $37.95-$65.22 per pig and the 23 kg was $68.20-$90.12.
Heavy lambs lower
Ontario Stockyards Inc. reported 3,335 sheep and lambs and 891 goats traded. Heavy lamb prices fell $5 per cwt., while all others were steady. Sheep sold at steady prices. Kid goats were $5-$8 lower, while all others were steady.
