Fed cattle prices fall
Fed cattle average prices were $1.50-$2 per hundredweight lower last week with most of the pressure coming early in the week, Canfax said.
The show list and volume traded was a bit smaller with slightly more than 22,000 head changing hands. Buying interest from the United States was dominant and it set the pace on the better quality cattle.
Calves made up a fairly small percentage of the volume.
Alberta prices in light trade March 16 were steers $85-$86 per cwt., flat rail $145 and heifers $85, flat rail $145.
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Canfax expects fed prices will be fairly steady for the next week or so. U.S. buying will continue to set the floor with about 18,000 head moving south each week.
Older cattle that can’t be exported will continue to see the most price pressure.
Beef weaker
U.S. cutouts fell again last week with Choice down $3 US per cwt. and Select down $3.80.
The larger kill and more product in the pipeline had a negative impact on price and movement. Canadian prices followed suit.
The Calgary wholesale price for delivery this week fell $2 Cdn to $147-$150.
Feeders down
Feeder cattle prices fell across most weight classes. Continued pressure in the fed market in the U.S. and a bleak summer forecast contributed to the weaker market, Canfax said.
Light steers 300-600 lb. fell $1-$3; light heifers 300-600 lb. decreased $2-$3.25.
Steers 600-700 lb. rose 50 cents while heavier steers decreased $2-$3.
Heifers 600-800 lb. fell $3.25-$4, while 800-900 lb. and heavier were down $2.50-$3.25.
Volume through Alberta auction markets was nine percent lower with about 48,000 head reported sold.
Alberta auction markets volume year to date is up 13 percent over last year.
D1, 2 cows were mostly steady at $38.11. Butcher bulls gained 75 cents to average $33.69.
Negative feeding margins and lower summer price expectations will continue to affect heavy feeder cattle in the coming weeks, Canfax said. Lighter feeder cattle could trade sideways into April.
Stock bred heifers in northern Alberta traded lower at $800-$1,125 with plain types at $600-$750.
Bred cows were slightly higher with most at $925-$1,350 and plain types $550-$900.
Cow-calf pairs rose with most traded at $900-$1,350 and plain types $650-$850.
Hog prices fall
Cash hog prices in the U.S. fell last week as pork prices also dropped and slaughter reached record levels for this time of year.
Carcass weights for barrows and gilts that are running more than a pound heavier than a year ago are also adding to the problem.
The composite pork carcass cutout value dropped to $61.25 March 17, down from $63.41 March 10.
The Iowa-southern Minnesota live cash price for hogs delivered to plants fell to $42 per cwt. March 17, down from $44 March 10.
Federal slaughter in the U.S. was estimated at 2.01 million last week, up from two million the week before and almost four percent more than last year at the same time.
“Hopefully, slaughter will trend lower seasonally in coming weeks. However, we are concerned that slaughter numbers are likely to continue to overrun expectations into the second quarter,” said Ron Plain of the University of Missouri in his weekly hog market comment.
Building chicken stocks also weighed on the market.
The only good news, Plain noted, was that U.S. pork exports for January were up 20 percent over the year before.
Sheep and lambs steady
Ontario Stockyards reported 1,439 sheep and lambs and 296 goats traded last week. All sheep, lambs and goats sold at barely steady prices.
Beaver Hill Auction in Tofield, Alta., sold 194 on March 16.
Prices were steady to higher on all classes.
Lambs lighter than 70 lb. were $159-$168 per cwt., 70 to 85 lb. were $154-$163 and 86 to 105 lb. were $141-$151.
Lambs heavier than 105 lb. were $122-$141.
Replacement ewes were $111 per cwt., rams $51-$87 and cull ewes $51-$90.
Good kid goats were $150-$159. Cull nannies were $70 per cwt. and mature billies $136.
The Easter sale is April 6.
