Fed cattle prices last week were disappointing, with steers down $1.50
per hundredweight and heifers 50 cents lower.
Most of the buyers were local, but some cattle went to the United
States, Canfax said.
Few cattle passed despite the lower bids because a slower kill schedule
is expected for the remainder of the year.
As well, daily gains have been good over the past month, meaning some
cattle are heavier and ahead of their anticipated marketing date. To
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avoid weight discounts, some producers are trying to get cattle sold
before the Christmas break. Fed cattle prices in the U.S. fell $1 US
lower to $73 per cwt. on Dec. 11, partially as a reaction to lower live
cattle futures but also due to talk of smaller kills until the new year.
The volume was steady with the week before.
Alberta prices Dec. 12 were steers $101-$104 Cdn per cwt., flat rail
$170-$173.20. No heifers traded that day.
Expectations are for beef sales to slow as Christmas approaches, Canfax
said, but sellers and buyers are already starting to look to the
January market.
Calgary wholesale beef prices are steady to $2 higher at $166-$171 per
cwt. The Montreal market is also steady to $2 higher at $176-$177.
Canfax said the basis remains wide for this time of year but the
smaller kills and holiday schedule make it unlikely prices will improve
before the new year.
Feeder prices better
Feeder prices were higher on all classes. Sales are starting to wind
down but competition remains strong.
Lighter steers and heifers were $3.25-$6.25 per cwt. higher, while
heavier feeders over 600 lb. were steady to $2.50 higher.
Canadian and American buyers were active, said Canfax.
Slaughter cows felt pressure, finishing $1 per cwt. lower on average.
Canfax expects feeder prices will remain strong in December.
In stock cow trade, some older, common type cows traded as low as $600,
but most sales were $850-$1,350, with highs to $1,625.
Bred heifers were $800-$1,650, with most trading at $950-$1,400.
The Alberta and Saskatchewan cattle-on-feed report for Dec. 1 showed
the number of head in feedlots was 862,000, down 28 percent from the
same time last year.
The number placed in November was down 17 percent. Feeder exports and
the lack of imports in November support this dramatic change, said
Canfax. In November this year, Western Canada exported 56,904 head of
feeder cattle to the U.S. and imported 1,664 head, leaving a net feeder
export of 55,240. Last year, 16,021 head were exported and 49,655 head
were imported, a net import of 33,634 head.
The number marketed in November this year was up two percent.
U.S. hogs come to market
The approaching holiday season and favourable weather in most areas
encouraged American hog producers to market their animals.
With ample hogs available, packers decreased hog prices as the week
progressed, said Manitoba Agriculture.
Early in the week, higher wholesale prices for most pork cuts raised
the U.S. pork cutout value, but later, reduced retailer demand for
loins dropped the cutout value.
U.S. hog slaughter was up from the previous week and was running 2.4
percent above the level of a year earlier, Manitoba Agriculture said.
The Iowa-Minnesota daily direct hog price (plant mean, 51-52 percent,
lean carcass converted to live weight) fell from $33.70 US per cwt. on
Dec. 9 to $31.97 on Dec. 12.
On average, the week’s hog price was three to four percent below the
previous week’s price. Lean hog futures prices also dropped.
