Fed cattle prices drop
Fed cattle last week were steady to 35 cents per hundredweight lower than the week before, said Canfax.
Averages for the week, at $95.86 per cwt. for steers and $96.72 for heifers, were down $2.25 and $1.75 respectively from the week before Christmas.
Most of the trade took place midweek with volume totalling 19,000 head, up 26 percent from the week before and steady compared to the week ending Dec. 23. The highs for the week were set Jan. 4 for some long fed, age-verified heifers.
Packer appetite increased a bit, but most had comfortable inventory, said Canfax.
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A few cattle moved to the United States.
Alberta prices Jan. 5 were steers $93-$96.65 per cwt., flat rail $159-$160.85 and heifers flat rail $159-$160.50.
The U.S. fed market continued to struggle and Canadian packers, noting slow beef movement, might soften their demand.
Beef weakens
U.S. Choice and Select cutouts lost $3 US last week, averaging $155.21 and $140.51 respectively, said Canfax.
Beef movement picked up in the U.S. compared to the week before, but was still slower than before the holidays.
Canadian beef movement was slow with wholesale prices for Calgary steers for delivery this week steady at $165.
Feeders mixed
Feeder volumes through Alberta auction markets were light at about 6,000 head traded.
Averages were mixed between weight groups and reflected the limited volume at each auction market, said Canfax.
Lighter steer calves weighing less than 500 pounds fell $4.25-$4.75 per cwt. from the week before Christmas, while heifers under 500 lb. were $2-$2.50 higher.
Steers and heifers weighing 500-600 lb. were off $1.25-$1.50 compared to the week ending Dec. 23.
Heavier calves 600-900 lb. saw better demand with steers up $1-$3 and heifers up 75 cents-$4.
Steers 900 lb. and heavier fell almost $2, while heifers were only slightly lower.
D1, 2 cows held steady to $1 higher last week with most trade between $30-$40. Butcher bulls fell $1.50, said Canfax.
As volumes resume, the market will be better tested.
Demand appears steady with the before-Christmas period as feedlots look to refill pens emptied through the holidays, Canfax said.
More slaughter cows are expected to go to market in the next month, perhaps causing slight pressure.
In limited trade, bred cows in central Alberta were $500-$1,010.
Hog prices weaken
The U.S. hog market saw fairly balanced supply and demand in the first week of the year.
Packers’ profit margins edged slightly lower, but kept a floor under the market. Some traders believe the number of hogs available for market might edge lower soon, supporting prices.
About 1.82 million head were federally slaughtered in the U.S. in the last week of 2005, up from 1.8 million the week before, but down from the 1.97 million processed in the same week last year.
The Iowa-southern Minnesota live cash price for hogs delivered to plants slipped to $42.50 US on Jan. 6, down from $43 Dec. 30.
The U.S. Department of Agriculture composite pork carcass cut-out value was $63.59 per cwt. Jan. 6 compared to $64.08 on Dec. 30.
Sheep stronger
Ontario Stockyards reported 2,254 sheep and lambs and 670 goats traded last week. All classes of sheep, lambs and goats sold actively at higher prices.
