Fed cattle stronger
Fed cattle prices for the week ending Dec. 22 rose with steers averaging $85.44 per hundredweight, up 41 cents, while heifers were up 27 cents to $85.41, said Canfax.
Canadian and U.S. packers were active buyers. About 17,000 head traded, down 12 percent from the week before.
The Nebraska to Alberta cash basis widened by 52 cents to $14.28 under.
Fed cattle exports the week ending Dec. 15 totalled 15,196 head, up 2.4 percent from the previous week.
That was well below autumn movement of 19,000-20,000 head per week but similar to the same time in 2005.
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Canadian steer carcass weights tend to be the highest in the autumn and lower through the winter and into the spring, said Canfax.
The five-year average shows a seasonal decline from the fall high to the end of the year of about eight pounds. This year the drop was 34 lb.
Increased feed costs have been the main reason for the drop, but also feeders have wanted to keep current in their marketing.
The beef complex dropped. Choice was down $3.62 US to $140.69 per cwt. while Select fell 61 cents to $124.88, said Canfax.
That narrowed the Choice-Select spread by $3.01 to $15.81, still well above historical levels of $8-$9.
The Choice cutout is following the normal seasonal trend of moving lower, but the snowstorm that hit parts of the United States limited packers’ ability to get product moved.
The Canadian cutout also fell with AAA lower by $1.67 Cdn to $159.69 and AA off by 50 cents to $152.01.
With Christmas turkey and ham dominating meals, beef sellers reported low trade volumes.
The Calgary wholesale market was steady at $141-$144 for delivery in the last week of December.
Feeders mostly lower
Auction market volume was 19 percent smaller than the week before and 26 percent larger than last year at about 65,500 head, said Canfax.
Light steers and heifers 300-500 lb. were down $1.25-$3.25 per cwt.
Steers and heifers 500-600 lb. were steady to $1 higher.
Steers 600-800 lb. were down 50 cents-$1.25 while steers 800-900 lb. and heavier fell $1.25-$1.50.
Heifers 600-800 lb. dropped 50 cents-$1.25 and heifers 800-900 lb. and heavier dropped $1.25.
For the week ending Dec. 16, 6,642 head were exported, the second largest week this fall.
Butcher cows saw prices $4.25-$4.50 lower and butcher bulls were $1.50 lower.
Cattle trading over the holidays were expected to see steady prices.
With the large offerings in the final weeks of December, volumes may be limited in the new year, said Canfax.
In limited trade, bred cows were mostly $750-$1,100 with tops to $1,275 and plain types $350-$700.
Bred heifers were $850-$1,000 with tops to $1,200 and plain types $350-$800.
Hogs dip
Declining packer margins and lower pork prices pressured U.S. cash hog prices.
The Iowa-southern Minnesota live cash price for hogs delivered to plants started the week after Christmas at about $45 US per cwt., but slipped during the week to close at about $44 per cwt. on Dec. 29.
The U.S. composite pork carcass cut-out value was $63.73 Dec. 29, down from $64.10 Dec. 22.
