Fed averages rise
Trade was slow to build with most activity occurring midweek when prices strengthened, said Canfax.
Fed cattle traded $2 per hundredweight higher than the week before. Volumes rose five percent to 18,716 head.
U.S. bids for Alberta cattle were competitive. Almost 18,000 head were exported two weeks ago.
Alberta prices Dec. 15 were steers $94 per cwt., flat rail $161.30 and heifers $96.65.
A fairly small kill, strong packer margins, high beef prices and optimism over the reopening of the Japanese market helped U.S. cash fed cattle prices to rise $3-$4 US last week, widening the Canada-United States basis to $13.18-under from the previous week’s $11.27-under.
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Canadian feedlots are current in their marketing and will want to narrow this basis in coming weeks, said Canfax. Packer bidding may weaken as the shorter holiday kill weeks approach.
Cutouts improve
Canadian cutouts for the start of December saw the AAA cutout almost $4 per cwt. higher and AA up $1.25.
U.S. cutouts had an impressive week with Choice jumping $5.31 US and Select rising $3.57.
Movement was considered steady to slightly more active.
Calgary wholesale price for delivery this week saw steers at $160-$161.
Feed prices rise
Alberta feeder auction market volume rose eight percent with about 56,000 head trading, down one percent from a year ago, said Canfax.
The volume likely reflected the movement of feeder cattle held at home for preconditioning.
Prices rose. Lighter steer calves 300-600 pounds were steady to $2.25 higher, while 600-800 lb. rose $2. Steers 800-900 lb. and heavier rose $1.75-$2.
Heifer calves 300-600 lb. rose 50 cents-$1.50, while 600-700 lb. saw good demand, rising $3.50. Heifers 700-900 lb. and heavier gained $1.25-$2.
D1, 2 cow trade was hot with averages up $3.50. Some cows reached to $50 per cwt. and higher. Butcher bulls rose $2.50.
Another large cow kill last week of 16,700 head had packers looking for cows, but the holiday kill schedule could cut into this demand.
Most auction markets will close between Christmas and New Years.
Demand should remain steady this week as feedlots try to finish business for the year. Stronger fed prices should support the feeder market.
Stock bred cows in Alberta brought $700-$1,200 with tops to $1,485. Bred heifers were $800-$1,250 with tops to $1,475.
Cow-calf pairs in central and northern Alberta were $600-$1,050.
Hog prices weaken
Falling pork prices, more moderate weather in the Midwest and ample hog supplies caused cash hog prices in the U.S. to fall last week.
About 2.15 million head were federally slaughtered in the U.S., up from 2.13 million the week before, but down from the 2.25 million processed in the same week last year.
The Iowa-southern Minnesota live cash price for hogs delivered to plants slipped to $44-$44.50 US by Dec. 16, down from $45 reported Dec. 9.
The U.S. Department of Agriculture composite pork carcass cut-out value was $65.06 per cwt. on Dec. 16, down from the $67 posted Dec. 9.
Sheep steady, lambs up
Beaver Hill Auction at Tofield, Alta., reported 1,411 head traded Dec. 15 at stronger prices. Lambs less than 70 lb. $135-$173.50 per cwt., 70-85 lb. $132-$153.50 and 86-105 lb. $125-$146.50.
Fat lambs 105 lb. and heavier were $119-$134.50.
Replacement ewes were $95-$102.50. Cull ewes $40-$70 and rams $55-$97 per cwt. Good kid goats 55-80 lb. were $10-$30 cwt., with excellent quality at $127-$161. Nannies were $40-$69 and mature billies were steady at $110-$137.