Fed weights drop
Fed cattle price averages gained 50-75 cents per hundredweight last week, said Canfax.
Finished calves traded steady and better-grading yearlings brought a bit of a premium.
Volume traded was nearly 25,000 head. U.S. buying activity was consistent and Canadian packers stepped up to the plate to keep their kill inventories together for the coming week.
Alberta prices April 20 were steers $86.15-$87, flat rail $143.50-$144 and heifers $86-$87, flat rail $143.50-$144.
Canfax noted that seven weeks ago, Canadian steer weights were 61 lb. heavier than they are now, which was 30 lb. over the five-year average. The average weight two weeks ago of 809 lb. was even with the five-year average and six lb. below the same week last year, said Canfax.
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With feedlots current in their marketing and a steady cutout, fed prices should be well supported. The spot basis to the U.S. is tight, an indication to keep on selling, said Canfax.
Beef steady
Canadian cutouts were mostly steady with strength in middle cuts and weakness in end meats.
The Canadian cutout is strong compared to the equivalent U.S. value. Calgary wholesales for delivery this week are steady to $1 lower.
U.S. cutouts were mixed last week with the Choice-Select spread widening. Choice gained $2 US while Select dropped 70 cents. Cutouts are about 10 percent lower than where they were a year ago. Movement was a bit light with the load count down eight percent from the week before.
Feeder spread widens
Feeder cattle prices continue to see a wide gap between low and high, with most of the discrepancy due to quality. Quality cattle are selling well while fleshy poorer types are being discounted.
Light grass cattle were stronger last week with steers 300-600 lb. up 75 cents-$3.25 Cdn per cwt., and light heifers 300-600 lb. up $1-$2.25. Steers 600-700 lb. fell 75 cents. Heifers 600-700 lb. rose 25 cents.
Steers 700-900 lb. and heavier rose $2.25-$4.25 while heifers 700-900 lb. and heavier rose 75 cents-$2.50.
Feeder cattle volume was up 55 percent from the week before at 32,179 head but was nine percent smaller than a year ago. Year-to-date feeder volumes are up 11 percent at 573,148 head.
D1, 2 cows traded almost $1 lower to average $38.45. Butcher bulls traded $1 lower to average $34.32.
Canfax expects volumes will decline with the spring feeder run nearing an end. Feeder prices will vary due to quality. Grass cattle should continue to have solid buying interest.
The number of feeder cattle exported for the week ending April 15 was a strong 7,507 head.
Stock cattle traded higher with bred cows mainly at $900-$1,425 and plain types $550-$850. Bred heifers in northern Alberta traded $850-$1,050 and plain types $650-$800.
Cow-calf pairs were mainly $975-$1,350 and plain types $600-$950.
Hogs jump higher
U.S. hog prices rose sharply last week on strong packer demand and tight available supplies.
Pork prices also edged up, but not enough to prevent packer margins from narrowing. Analysts think processors might slow their lines this week to pressure pork higher and improve margins.
The composite pork carcass cut-out value rose to $63.27 US per cwt. April 21, up from $59.43 on April 13. The Iowa-southern Minnesota live cash price for hogs delivered to plants April 21 was $44.50, up from $38 on April 13. Federal slaughter in the U.S. was estimated at 1.925 million last week, compared to 1.936 million the week before.
Lambs stronger
Ontario Stockyards reported 2,082 sheep and lambs and 188 goats traded last week. Light lambs sold $10-$15 Cdn per cwt. higher, while heavy lambs were steady to higher.
Sheep traded $5 cwt. lower. Goats held firm.
Beaver Hill Auction in Tofield, Alta., reported 152 head sold April 20. Lambs sold steady with sheep a little stronger, considering quality.
Old-crop lambs under 70 lb. sold for $130-$147. New crop under 70 lb. were $145-$159. Old-crop lambs 77 lb. were $145. New crop 70-85 lb. were $144-$151. Rams sold at $57-$90. Cull ewes were $56-$84.
Goats were steady to higher. Kid goats were $172-$180 per cwt. One cull nanny brought $90 per cwt. Alpine nannies with twin kids sold at $200 per family. Good wether goats 60 lb. and heavier $172-$180 per cwt.
Slaughter bison prices
The Saskatchewan Bison Association reported that Canadian rail carcass prices for top quality younger than 30 months bison bulls were $1.70 to $1.90 per lb.
On April 10 USDA reported carcass price for hot hanging weight for young bison bulls at a weighted average of $1.75 US per lb.
