Fed prices jump
Fed cattle prices gained $2.50 per hundredweight on steers and $2.10 on heifers on active bidding from western packers.
U.S. activity wasn’t quite as active from a bid perspective but the volume headed south was steady, said Canfax.Two weeks ago, nearly 20,000 head of fed steers and heifers were exported. A smaller showlist and one less day of marketings due to an early cutoff ahead of Remembrance Day led to 20,000 head trading through Canfax members to the close on Nov. 9.
Alberta prices Nov. 9 were steers $89.50-$91.50 per cwt., flat rail $149.50-$153 and heifers $88-$91.35, flat rail $149.50-$151.
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Canfax said feedlots remain current in their marketing with showlists not expected to increase much for the remainder of the month. Also, the strong U.S. market and strong export demand will support prices.
Wholesale beef stronger
Canadian cutouts inched higher two weeks ago, helped by a weaker Canadian dollar, said Canfax.
U.S. cutouts rose 50 cents-$1 US last week with Select narrowing the gap with Choice by 50 cents.
Business is reported as slower heading into U.S. Thanksgiving. This is a typical slow time for beef movement.
Calgary wholesale prices gained $5 Cdn for delivery this week with handyweight steers at $152-$153.
The reduced slaughter due to Remembrance Day will keep supplies manageable, which should support prices.
Quality affects feeders
Alberta feeder auction market volume rose to about 101,500, up four percent from the week before and 37 percent more than the year before, said Canfax.
Averages reflect the large number of second-cut calves trading under slight pressure, while first-cut calves saw steady prices.
Light calves 300-500 lb. fell $1.50-$2 per cwt., while 550 lb. steers and heifers rose 50 cents.
Heavier steer calves 600-800 lb. fell $1.50, while 600-800 lb. heifers were 75 cents-$1.50 lower.
Yearling volumes have all but dried up and averages reflected quality and weaker buyer depth.
Steers 800-900 lb. and heavier fell $2-$3 and heifers 800-900 lb. and heavier were $2.75-$3.50 lower.
D1, 2 cows traded under slight pressure, falling 50 cents, while butcher bulls were $2.50 lower.
Canfax said southeastern Alberta appears to have moved through most of its calves, while central areas are still in the heart of the run. As a result, trade will continue to be mixed depending on location.
Volumes for Alberta are anticipated to be steady in the next few weeks with smaller numbers of calves exported.
Slaughter cow volume through auction markets is increasing and this could weigh on cull prices in the coming weeks, said Canfax.
Stock bred cows in central and northern Alberta were mostly $500-$950 with tops to $1,200.
Bred heifers were mostly $750-$1,000 with tops to $1,175.
Cow-calf pairs were $700-$1,220 this week.
On-feed report
Cattle on feed as of Nov. 1 in Alberta and Saskatchewan totalled 909,740 head, three percent smaller than same month last year, said Canfax.
The on-feed number was down because not all available feeders are in Canadian feedlots this year as they were last October. Almost 45,000 head of feeder cattle were exported and are in U.S. feedlots.
By including the exported feeders, the potential on-feed total is closer to 955,000 head, two percent larger than a year ago.
October placements were down 14 percent compared to last year.
The mix of feeder cattle shifted to reflect more calves in the market in October compared to September.
More than half the cattle placed in October came from lighter weight classes.
Total slaughter and export marketing were 199,833 and of that, the Canfax survey group marketed 80 percent, or 159,226 head.
Hogs strengthen
American cash hog prices climbed last week.
Slaughter margins remained profitable and hog supplies were large enough to encourage strong slaughter rates, at 2.15 million, up slightly from the week before.
The Iowa-southern Minnesota live cash price for hogs delivered to plants on Nov. 11 was $46 US compared to $45 US on Nov. 4.
The U.S. Department of Agriculture composite pork carcass cut-out value was $66.05 per cwt. on Nov. 11, up from $64.66 Nov. 4.
Iowa-southern Minnesota set a record for barrow and gilt weights. This, coupled with the strong slaughter rate, is causing a buildup in retail pork.
Sheep steady
Ontario Stockyards Inc. reported 2,000 sheep and lambs and 198 goats traded last week. All classes of sheep, lambs and goats traded at steady prices.
