Fed supplies tight
Fed cattle prices opened the week steady but closed $1-$2 per hundredweight higher as packers aggressively chased cattle, said Canfax.
The volume traded was about 26,000 head, up nine percent from the week before.
Feedlots remain current, with the market-ready supply tight.
Alberta prices June 15 were steers $84.50-$87.40 per cwt., flat rail $143-$144.30 and heifers $84.25-$88.10.
Canfax said tight supplies are still the key driver in the Canadian market.
Alberta saw heavy rain during the week and that might reduce the number of market-ready animals this week.
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U.S. movement remains limited to cattle forward contracted or committed.
Beef mixed
The Canadian cutout was mixed with the AAA trading $1.50 higher and the AA losing $1.
The Calgary wholesale price for delivery this week is steady in a range of $144-$146, Canfax said.
Byproduct values are inching higher due to stronger hide prices.
U.S. cutouts lost ground last week but movement increased 27 percent. Choice was down $3 US while Select lost $2.45 compared to the week before, leaving the Choice-Select spread at nearly $23 per cwt.
Analysts note that with July 4 nearing, the holiday barbecue season in the United States is drawing to a close, and demand usually drops. Market-ready cattle supplies in the U.S. are forecast to increase and this will put downward pressure on prices in the coming weeks.
Feeders sizzle
The feeder market has continued hot with steers 800-900 pounds and heavier up $2-$2.75 Cdn and heifers 800-900 lb. and heavier up $2-$2.50.
Steers 500-800 lb. were steady to 25 cents-$1 higher, heifers 500-600 lb. were $1 higher, 600-700 lb. were down 25 cents and 700-800 lb. were up 75 cents.
Light steers 300-400 lb. fell $1.75 and heifers 300-400 lb. fell $1.75.
Steers 400-500 lb. rose 75 cents and heifers 400-500 lb. rose $1.50.
Alberta auction market volumes at 21,324 head fell two percent from the week before.
Year-to-date Alberta volumes are up seven percent at 790,743 head.
D1, 2 cows and butcher bulls both fell 50 cents.
With good moisture, Canfax expects continued strong demand for quality grass cattle.
Feedlots are also looking for cattle to fill pen space so heavy feeders should continue to be in high demand.
Feeder cattle exported to the U.S. for the week ending June 10 were up 19 percent from the previous week at 4,146 head.
In stock cow trade, cow-calf pairs in central and northern Alberta were mainly $950-$1,260 and plain types $600-$900.
Bred cows in central and northern Alberta were mainly $900-$1,250 and plain types $450-$850.
Medium quality bred heifers in northern Alberta were $600-$850.
Hogs shoot higher
U.S. supplies of market-ready hogs continued tight and pork prices rose, allowing U.S. packers to raise bids for hogs.
Pork exports are strong and domestically there is good demand from the fast food industry for bacon.
Carcass weights are falling.
The Iowa-southern Minnesota live cash price for hogs delivered to plants rose to $58 US on June 16, up from $54.50 June 9.
The composite pork carcass cut-out value climbed all week to $78.81 on June 16, up from $74.41 June 9.
Federal slaughter in the U.S. was estimated at 1.82 million down from 1.9 million the week before.
Goats and sheep stronger
Beaver Hill Auction in Tofield, Alta., reported 485 head sold June 12.
New-crop lambs under 70 lb. were $130-$161 per cwt., 70-85 lb. were $120-$154, and 86-105 lb. were $125-$135.75.
Old-crop lambs 86-105 lb. were $110-$129, 130 lb. and heavier were $95-$110.
Replacement ewes were $70-$100. Rams were $55-$65 and cull ewes were $45-$55.
Ewes with lambs at side were $150-$175 each.
Good kid goats fetched $175-$206 per cwt. Nannies were $130-$160. Mature billies were $140-$176. Goat families brought $190-$220 each.
Ontario Stockyards reported 1,663 sheep and lambs and 119 goats traded. All classes of lambs and sheep traded steady. Goats sold steady to higher.
Bison steady
Canadian rail carcass prices for top quality bison bulls younger than 30 months were $1.70 to $1.90 per lb., unchanged from last week.
USDA price report June 12 for hot carcass weight younger than 30 month old bison bulls was $165-$180 US per hundredweight, with a weighted average of $179.12, unchanged from last month
The USDA price for aged cows was $115-$117 per cwt., with a weighted average of $115.36 US per cwt., up $4.59 from last month.
