Fed prices edge higher
Fed cattle sales were 50 cents to $1 per hundredweight higher last week thanks to strong Canadian packer interest and a smaller offering, said Canfax.
Volume was down 18 percent from the week before at slightly more than 21,000 head.
Buying interest from the United States was still apparent but the basis has narrowed.
Carcasses are still heavy in some cases but there appeared to be fewer extremely heavy cattle in the mix.
Alberta prices Oct. 20 were steers $85.25-$85.50 per cwt., flat rail $140.30-$141.90 and heifers $84.75-$86, flat rail $140.50-$141.50.
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Prices should be supported in the coming weeks by fewer market-ready supplies and this should lead to a narrower Canada-U.S. basis.
Beef stronger
The smaller kills in the U.S. in recent weeks have helped to support the cutout at stronger levels, said Canfax.
Last week Choice was up $3 while Select was up $2, raising Choice to nearly $147, the same as a year ago.
The Choice-Select spread widened to $10 after falling to $8 recently.
Beef movement dropped 18 percent, an indication of the smaller kills.
In Canada, AAA rose 20 cents while AA was up 85 cents, putting the AAA cutout at $164 compared to $165 a year ago. The AA cutout sits at $157.
Calgary wholesale for delivery this week rose $1 to $143-$144.
Feeders drop
Feeder prices were all over the map last week with a wide spread between the low and high, said Canfax.
The run was dominated by calves with yearlings making up a smaller percentage. Demand for calves was good from local and eastern buyers.
Volume at 82,583 head matched a year ago and was 61 percent larger than the week before.
Light steers were down $2-$3, 500-800 lb. were down $3-$4.50 and 800-900 lb. and heavier fell $3.75-$4.50.
Light heifers dropped $2-$2.25, 500-800 lb. fell $3-$4 and 800-900 lb. and heavier were down $3.75-$4.25.
For the week ending Oct. 14, 3,995 head were exported, down 14 percent from the week before and down 67 percent from last year.
D1, 2 cows traded $2 lower while butcher bulls were $1 lower.
There is a lot of talk that the calf run and cow run have been slow to start, due to mostly favourable weather and forage conditions, Canfax said.
With larger numbers ahead and continued high feed grain prices, trade will continue to be under pressure.
Stock bred cows in central and northern Alberta were lower with most at $675-$900 and plain types $400-$650.
Bred heifers in central and northern Alberta were mostly $750-$980 and plain types $400-$700.
Cow-calf pairs in central Alberta traded at $600-$925.
Hog prices weaken
Hog supply was ample again last week, allowing packers to reduce bids.
The Iowa-southern Minnesota live cash price for hogs delivered to plants was $46-$46.50 US per cwt. on Oct. 20, down from $48 Oct. 13.
The U.S. composite pork carcass cut-out value fell all week, settling at $65.95 Oct. 20, down from $69.55 Oct. 13.
Federal slaughter in the U.S. was estimated at 2.213 million, up from 2.166 million the week before.
Bison
Top quality, younger than 30 month bison bull carcasses in Canada in the desirable weight range were unchanged at $1.58 to $1.80 per lb. with a weighted average of $1.70 per lb.
Substantial discounts are being applied to animals in the older than 30 month category.
Rail prices for top quality, youthful, older than 30 month bulls and heifers are $90 to $113 per cwt. hot hanging weight.
The U.S. Department of Agriculture Oct. 10 report said the weighted average carcass price for hot hanging weight bison bulls younger than 30 months was $182.08 US per cwt.
Heifers averaged $167.46 per cwt.
Sheep under pressure
Beaver Hill Auction reported 1,431 sheep and 266 goats sold Oct. 16.
Most classes were under pressure. Breeding ewes were the exception, with one lot of 25 158-pound ewes selling at $113 Cdn per cwt.
Lambs lighter than 70 lb. were $122-$152 per cwt., 70 to 85 lb. $118-$144, 86 to 105 lb $115-$135 and 105 lb. and heavier $80-$124.50.
Rams were $50-$63. Cull ewes were $50-$70 while breeding ewes were $81-$113 per cwt.
Poor and light goats less than 50 lb. were $100-$140 per cwt. while good kids were $144-$158.
Nannies were $45-$84 per cwt. while mature billies were $128-$147 per cwt.
Ontario Stockyard Inc. reported 2,575 sheep and lambs and 225 goats traded. All classes of lambs sold $5-$10 cwt. lower. Sheep sold steady to stronger. Goats held firm.
