Fed cattle lower
Fed cattle were 50 cents-$1 per hundredweight lower last week, Canfax said.
Almost 24,500 head sold, down seven percent from the week before but still one of the largest volumes this year.
Alberta steer weights dropped to 868 pounds from 877 lb. the previous week but that was still 33 lb. heaver than the same week in 2005. Saskatchewan weights shot up to 880 lb.
About 10 percent of the week’s trade was calves.
Alberta prices March 9 were steers $86.75-$88.20 per cwt., flat rail $145.50-$146 and heifers $86.50-$88.75, flat rail $145.50.
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The Canadian dollar dropped more than two cents last week, helping to hold the Canada-U.S. basis at about $12 under.
Canadian slaughter was expected to surpass 70,000 head for the first time this year, which compares to 80,000 head at the same time last year, Canfax said. Industry capacity is a little more than 90,000 per week.
Beef prices pressured
U.S. slaughter rose to 615,000 head two weeks ago, up from 568,000 the previous week, pressuring cutouts $4 lower last week, Canfax said.
Choice and Select were down from the week before but the volume of beef traded was up 36 percent compared to the previous week.
Calgary beef wholesale prices for delivery this week dropped $2-$3 to a range of $149-$152 on handyweight steers.
Feeders too fat
Volumes through Alberta auction markets increased 41 percent with slightly less than 53,000 head reported sold.
Due to favourable feeding conditions, the mild winter and plenty of feed grain, many cattle are coming to market fleshy, which is contributing to significant discounts.
Heavier cattle were under pressure last week.
Steers 800-900 lb. and heavier fell $1-$2 and heifers 800-900 lb. and heavier fell 50 cents.
Light steers felt little or no pressure with prices holding steady to slightly higher. Steers 300-500 lb. rose 25 cents-$1.25, heifers 300-500 lb. were steady and heifers 500-600 lb. were up 75 cents. Steers 600-700 lb. fell 50 cents and heifers were up $1.25.
Steers 700-800 lb. increased $1.25 and heifers gained 75 cents.
D1, 2 cows gained $1.50 to average $38.42 because of continued packer interest. Butcher bulls had a slight increase to average $32.84, said Canfax.
With packer uncertainty in the United States and the price of deferred futures falling hard, especially for June, prices might drop for heavy feeders in the coming weeks, Canfax said. Grass cattle should continue to hold steady heading into spring.
In stock cow trade, cow-calf pair prices fell with most sales at $900-$1,300 and plain types $650-$850. Bred cows were steady to slightly stronger with more trade at $750-$1,250 and tops to $1,400 and plainer types $550-$700. Bred heifers in northern Alberta traded steady to slightly stronger with trade at $750-$1,150 on mixed quality.
Hog prices rise
Cash hog prices in the U.S. fell last week as the number of hogs brought to market rose and pork prices fell.
Packers’ operating margins narrowed but remained profitable, keeping the slaughter rate high.
The composite pork carcass cut-out value dropped to $63.41 US March 10, down from $67.82 on March 3.
The Iowa-southern Minnesota live cash price for hogs delivered to plants fell to $44 per cwt., down from $45.50 March 3.
Federal slaughter in the U.S. was estimated at two million last week, up from 1.97 million the week before.
Hog futures prices continued to drift lower as concerns rose about the large supply of competing poultry, the result of weak poultry exports caused by bird flu worries.
Sheep prices rise
Ontario Stockyards reported 1,189 sheep and lambs and 241 goats traded. Lambs and goats sold at steady prices, while sheep traded up to $5 Cdn cwt. higher.
Beaver Hill Auction in Tofield, Alta., reported 51 head sold March 2. Lambs sold $15 per cwt. higher. Supply is tight and the auction market expects excellent prices at its Easter sale April 6.
