Fed cattle stronger
After a slow start last week, Canfax members reported the largest Wednesday cash trade since late October.
Slightly less than 23,000 head traded, up nine percent from the week before. A few early yearlings were noted in the mix.
Price averages for the week were $1 per hundredweight higher on steers and heifers.
Alberta prices Dec. 1 saw steers at $93.55-$94.75 per cwt., $157.45-$158.30 flat rail and heifers at $95.20-$95.55.
Canfax said feedlots are current in marketing and will push for higher prices this week.
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American cash prices rose last week, with snowstorms and difficult travel conditions forcing packers to pay more to get supply. Slaughter rates have been down for several weeks in the U.S. Despite this, packers are finding it difficult to maintain beef prices and margins are poor.
U.S. beef weakens
U.S. cutouts fell last week with the Choice cutout down 30 cents US on the week and Select down $1.60.
In Canada, cutouts two weeks ago gained $2.25 Cdn on AAA and $1.60 on AA. Lighter kills helped support the Canadian cutout, as did good movement into the U.S. on rib and tenderloin product. Calgary wholesale prices rose $1 for delivery this week with steers at $158-$159.
Auctions slow down
Alberta feeder auction market volume fell to less than 71,000 head trading, down 21 percent from the week before, but 52 percent higher than a year ago.
Canfax said the market was under pressure with wide ranges noted due to quality.
Steer calves 400-600 lb. fell $1-$2.50 and heifers of the same weight category were $1 lower.
Steers 600-900 lb. and heavier traded from 25 cents higher to 25 cents lower, while heifers 700-900 lb. and heavier were 50 cents-$1.25 higher.
D1, 2 cows gained $1.25 from the week before. Butcher bulls lost 50 cents.
Canfax expects feeder cattle will trade relatively flat during December with steady to smaller volumes each week.
Also supportive to the feeder market is the continued larger than normal export volumes of 8,000-11,000 per week. The larger federally inspected cow kills of the last couple weeks have helped to put a floor on D1, 2 cows of around $25-$30.
Stock bred cows and heifers traded steady with most at $650-$1,000, with tops to $1,450. Cow-calf pairs on light volume in central Alberta brought $1,000-$1,200.
Hog prices rise
American and Canadian cash hog prices rose last week.
Snowstorms snarled traffic in the U.S. Midwest and curtailed hog deliveries, forcing packers to pay more to get the hogs they needed. Packing plant profit markets were strong, encouraging plants to keep up slaughter rates.
About 2.17 million head were processed, up from 1.88 million the week before and up from the 2.1 million processed in the same week last year.
The Iowa-southern Minnesota live cash price for hogs delivered to plants on Dec. 2 rose to $45.50 US, up from $41 reported Nov. 25.
The U.S. Department of Agriculture composite pork carcass cut-out value was $68.65 per cwt. on Dec. 2, up from the $66.69 posted Nov. 25.
Lambs steady to stronger
Ontario Stockyards Inc. reported 2,141 sheep and lambs and 140 goats traded. All classes of lambs sold steady to higher. Sheep and goats traded fully steady.
At Beaver Hill Auction in Tofield, Alta., 640 head sold Dec. 1.
All lamb classes sold at steady prices with good fat lambs less than 85 lb. $10 per cwt. higher. Lambs under 70 lb. $131-$150, 70 to 85 lb. $130-$146.50, 86 to 105 lb. $119-$136, 105 lb. and heavier $115-$124.50.
Cull ewes were $40-$60 per cwt. Rams were $45-$77.
