Fed cattle prices were steady to slightly lower than the week before, said Canfax.
Steers traded were $88 to $91 per hundredweight live and $147.50-$150.30 dressed. Heifers were $88-$91 live and $147.50Ð$150.30 dressed.
For the week, steers averaged $89.90 per cwt., down 35 cents and heifers averaged $88.07, down $1.75.
Volumes were light with slightly more than 19,000 head trading and the show lists were not cleared up.
Fed cattle exports saw 21,405 head move two weeks ago. Year-to-date exports total 124,339 head, 124 percent more than the same period last year.
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This Canada-U.S. cash-to-cash basis was $14.23 under compared to $14.83 under the week before, said Canfax.
Volume should remain manageable. The stronger loonie could offset the effect of tightening fed cattle supplies.
U.S. beef weakens
United States cut-out values dropped in response to lackluster demand and ample supply. Choice cutout dropped to $150.87 US, down $4.42 from the week before. The Select cutout was not as hard hit, dropping $2.60 to $144.61, said Canfax.
Canadian beef trade was described as steady as the market awaits spring weather to increase demand. The Calgary and Montreal markets were quoted at $150 Cdn and $158 respectively for delivery this week.
Feeder averages rise
Feeder cattle were higher early in the week but dropped later. The weaker prices will appear in next week’s average, said Canfax.
Light steers and heifers 300-500 pounds rose $1.25-$4, 600-800 lb. were up $1.75-$2.50 and heavy feeders were steady to $1.25 higher.
For the week ending Feb. 17, 11,375 feeder cattle were exported, up 54 percent from the week before.
Auction market volume was strong with about 47,000 head sold, up 33 percent from the week before and 37 percent higher than last year.
Butcher cows climbed $1-$1.25. Butcher bulls rose $1.75, said Canfax.
Prices were expected to be softer to steady this week with quality influencing prices and demand.
Stock cow trade saw moderate offerings and mixed prices. Cow-calf pairs were $900-$1,250, bred cows were $750-$950, with tops to $1,060 and plain types $500-$700. Bred heifers were $750-$960 and plain types $525-$700, said Canfax.
U.S. cattle on feed
Snowstorms and muddy pens prevented feedlots from buying cattle in January.
The U.S. Department of Agriculture reported the U.S. feedlot cattle supply on Feb. 1 was 97 percent of a year ago, or 11.73 million head. Analysts on average expected 97.8 percent.
USDA put January placements at 77 percent of a year ago, or 1.69 million head, compared with the average trade estimate of 82.6 percent. It was the second lowest January placements since the reporting series began in 1996.
January marketings were put at 102 percent, or 1.84 million head, compared with the trade average of 103.4 percent. Reduced feedlot supply should cause U.S. feeders to be more aggressive buyers once the weather improves.
Hogs weaken
A respite from recent storms allowed an increase in hog shipments in the United States. The extra numbers and heavier weights due to the marketing delays pressured hog prices late in the week. However, weights are still about three pounds lighter than last year at the same time.
The Iowa-southern Minnesota live cash price for hogs delivered to plants was $46 US per cwt. Feb. 23, down from $47 Feb. 16. Early in the week, prices had climbed as high at $49.
The U.S. composite pork carcass cut-out value was $69.80 on Feb. 23, down from $72.26 on Feb. 16.
Federal slaughter in the U.S. during the week was estimated at slightly more than two million, up 6,000 head from the week before.
Bison steady
Top quality, younger than 30 month bison bull carcasses in Canada were steady at $1.65 to $1.85 Cdn per lb., with a weighted average of $1.74 per lb., said the Saskatchewan Bison Association.
Rail prices for quality youthful older than 30 month bulls were $115-$145 per cwt. Cull cow prices were 10 to 15 cents per lb. live weight.
The USDA reported Feb. 14 that younger than 30 month bull hot carcasses were $160-$185 US, with an average of $180 during January.
Lambs steady to stronger
Beaver Hill Auction in Tofield, Alta., reported 778 sheep and 50 goats traded Feb. 12.
All classes were steady to stronger. Well fed quality lambs 80-110 lb. showed the best demand.
Lambs lighter than 70 lb. were $120-$141 Cdn per cwt. Lambs 70 to 85 lb. were $120-$143, 86 to 105 lb. were $115-$135 and heavier than 105 lb. were $113-$130.50.
Rams were $52-$94, cull ewes $59-$75 and breeding ewes $75-$90.
Good kid goats were $150-$174. Nannies were $59-$105 per cwt. and mature billies were $121-$157.
Ontario Stockyards reported 1,000 sheep and lambs and 94 goats traded Feb. 23. All classes of light lambs sold steady while heavy lambs were barely steady. Lambs heavier than 115 lb. were under pressure. Sheep and goats were strong.
