Another BSE case was found in Canada, in a British Columbia dairy cow. The announcement was April 13 and had little effect on fed cattle futures.
Fed prices firm
The weekly average fed cattle cash price last week rose 50 cents per hundredweight, said Canfax.
For the short week, 17,000 head traded, a respectable volume over the four days.
The slaughter mix is now predominantly calves as witnessed in the 31 lb. drop in carcass weights in the Alberta kill two weeks ago.
Buying interest was good with packers looking at a full kill week and U.S. buying activity focused on the remaining yearlings, said Canfax.
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Alberta prices April 12 were steers bring $84-$85 per cwt., flat rail $142.50-$145.20 and heifers $83.20-$85.95, flat rail $142.50-$144.
Hopes of a stronger cut-out value after Easter and a step up in grilling demand as weather improves, especially in the eastern half of the country, should keep prices steady to firmer this week, said Canfax.
Feedlots have been selling aggressively into the spring market and are current in their marketing, improving their bargaining position.
Whether prices improve further depends on the cutout.
Beef price improves
The U.S. cutout saw Choice gain nearly $3 US per cwt. over the week before, while Select held mostly steady. That was a much-needed improvement raising Choice to slightly more than $140 per cwt., said Canfax. Beef buyers may view this as an upward trend and jump on board.
Canadian cutouts two weeks ago struggled although they were stronger than the U.S. once the exchange rate was taken into account.
Calgary wholesale prices for delivery this week were steady to $3 higher with handyweight steers at $143-$147.50.
Quality key factor
Because of the early deadline due to Good Friday, Canfax’s data on weekly feeder price averages and volume was shortened.
Alberta auction market volume fell 49 percent from the week before, but year to date volume, at 540,969 head, was up 13 percent from a year ago.
There is a wide range between low and high prices and most of the decrease in the averages could be attributed to lower lows, mostly due to quality.
Light steers 300-600 lb. fell $2.50-$3, steers 600-800 lb. were down 50 cents-$2 and heavy steers were down $1-$2.
Light heifers 300-600 lb. fell $1.25-$2, heifers 600-900 lb. were down $1-$2.75 and heavy heifers 900 lb. and heavier rose $1.
D1, 2 cows traded steady, averaging $39.34 and the butcher bulls average was steady at $35.33.
Quality will be the main key in pricing in the near future.Volumes will decrease.
Prices late last week showed signs of strength on most feeder classes, said Canfax.
U.S. buyer interest remained strong with 8,783 feeder cattle exported for the week ending April 8.
Limited trade in stocker cattle saw bred cows in northern Alberta trade mostly at $800-$1,050, plain types $500-$775. Bred heifers in northern Alberta traded at $850-$1,050, plain types $600-$800.
Cow-calf pairs were mainly $900-$1,125 with the plain end $600-$850 in central and northern Alberta.
Hog prices improve
The seasonal trend in prices for pork and cash hogs is up as demand improves for grilling items and hog runs ease when farmers spend more time on fieldwork. Pork exports are also expected to remain strong.
Packer demand for hogs should pick up after the Easter weekend, especially with pork packer cut-out margins running in the black.
The average U.S. pork packer cut-out margin for April 13 was $7.50 US per cwt., up from $2.40 the week before, according to HedgersEdge.com.
The composite pork carcass cut-out value rose to $59.43 US per cwt. April 13 from $56.08 April 7.
The Iowa-southern Minnesota live cash price for hogs delivered to plants April 13 was about steady with the week before at $38.
Federal slaughter in the U.S. was 1.941 million last week, compared to 1.998 million the week before.
Lambs steady
Ontario Stockyards Inc. reported 2,905 sheep and lambs and 507 goats were sold. All classes of lambs and goats traded steady. Sheep sold barely steady.
