Fed cattle steady
Good to choice fed steers and heifers last week fetched $96-$98 per hundredweight, about steady with the week before.
Good Canadian and American packer interest bidding on a smaller offering helped offset the effect of a stronger Canadian dollar, said Canfax. About 21,600 fat cattle sold, up five percent from the week before with a large share heading south for slaughter.
Alberta prices March 22 were steers $96.75-$98.40 per cwt., flat rail $162.85-$166.20, while heifers were $98.40-$98.90, flat rail $165.
With large numbers of finished cattle exported to the United States each week, Canadian packers were left short, unable to fill the capacity to process 98,000 per week.
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Canfax said average weekly slaughter throughout 2006 was 64,000 head with little improvement indicated so far this year.
For the week ending March 17, Canadian packers processed 57,820 of all classes of cattle. The good news from Alberta packers is the percentage of top grading steers and heifers. More than half graded AAA, a large share graded AA, and only a few fell into the Prime or A categories.
Demand for quality is evident with a widening price spread between AAA and AA grades. Boxed beef prices for AAA were $176.97 per cwt., and AA was $171.31 for the week ending March 9, said Canfax.
Light feeders stronger
On the feeder side, buyers are looking for quality grass cattle with steers and heifers in the 300-600 pound range, commanding about 75 cents a lb. better than the week before.
Alberta steers in the 400-500 lb. category averaged $126.62 per cwt., Ontario prices averaged $129 per cwt. while Saskatchewan was $124 and Manitoba was $121. Cattle weighing more than 600 lb. were down 75 cents per lb., said Canfax.
Cow and bull slaughter remains above last year’s level although average prices for D1, 2 cows were below $40 per cwt. in the West. Last week’s average price for Alberta cows was $30-$39 per cwt. while eastern prices trended slightly higher at $37.90-$46.40.
Hog prices dip
U.S. pork movement is expected to pick up in anticipation of Easter retail sales. That will support hog prices, but recent strong slaughter pace has increased the supply of pork, pressuring its price lower.
The Iowa-southern Minnesota hog price March 23 was $44 US per cwt. , down from $46 March 16.
The U.S. composite pork carcass cut-out value was $65 per cwt. March 23, down from $65.49 March 16.
Federal slaughter in the U.S. during the week was estimated at 2.117 million, down slightly from 2.133 million the week before.
Canadian hog slaughter for the week ending March 17 was 415,527, down about 14,000 for the same time last year. Total Canadian slaughter for 2007 is down nearly four percent. U.S. slaughter is up one percent.
Young bison steady
The Saskatchewan Bison Association reported steady prices for finished bulls younger than 30 months but lower demand for older bison.
Issues have arisen related to grading carcasses for Europe, and some marketers will not use Canadian plants until the problems are resolved. Instead, bison will be sent to the U.S. for processing.
Carcass prices for top quality youthful bison bulls ranged from $1.60-$1.90 per lb. and $180.60 per cwt. on the rail. Youthful bulls older than 30 months on the rail were between $120 and $145. Cull cows sold as low as 10 to 20 cents a lb. live weight.
The U.S. Department of Agriculture reported younger than 30 month bull carcasses were $181.75 US per cwt. Cull cows were steady at $113 US per cwt.
Heavy lambs rise
Ontario Livestock reported 2,269 sheep and lambs and 288 goats traded. Light market lambs were steady while heavier lambs were $5-$10 Cdn higher per cwt. in anticipation of Easter demand for fresh lamb.
Central Alberta reported 95-115 lb. lambs averaged $115.20. The Easter lamb sale report from Beaver Hill Auction at Tofield, Alta., was not available at press time on March 26.
