Fed stocks tight
Seasonally tight supplies forced the fed market higher last week with prices $2-$3 per hundredweight stronger than the previous week’s trade, said Canfax.
Prices opened higher on April 25 with steers trading $101.50-$103.60 per cwt. live and $170.50-$174.50 on the rail.
Prices at the high end of the range for live and rail bids quoted included a $30 per head premium for age verification.
Heifer trade saw prices at $100.80-$102.35 live.
April 26 saw limited trade with prices steady with the day before.
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The weekly average price for steers was $102.28 and for heifers $101.40.
Volume was slightly more than 18,000 head, said Canfax.
The Canada to U.S. cash to cash basis narrowed to $5.62 under, keeping most sales in Canada but a few went south.
Fed cattle exports two weeks ago totalled 15,660 head, compared to 10,620 the week before.
Year-to-date exports total 295,737, up 13 percent from the year before.
Canfax said tight supplies and strong demand should continue for another week or two, but beef prices have weakened and packers will try to pressure prices lower.
Beef prices waver
U.S. cutouts fell with Choice at $159.76 US, down $4.01 and Select at $146.59, down $6.49.
The Choice-Select spread widened to $13.17.
U.S. retailers are focusing on ground beef as a featured item. Sales of middle meats appear slow.
In Canada, cutouts at the beginning of April fell with AAA at $181.42 Cdn, down $7.30 and AA at $177.81, down $3.97.
Demand was sluggish but interest seems to be picking up.
Even with grilling season here, retailers seem to be in sticker shock and are featuring other meats.
Canadian cutouts are priced higher than their U.S. equivalent.
The Calgary wholesale market for delivery this week was $1 higher at $170-$172.
Dollar hurts feeder price
Feeder cattle prices fell because of the strong Canadian dollar and little U.S. buying interest, but strengthened late in the week, said Canfax.
Heavy feeder steers weighing more than 900 lb. were steady while 700-900 lb. fell $1.25-$2.
Heavy heifers 700-900 lb. and more dropped $2.75-$3.75.
Grass cattle 500-700 lb. fell 25 cents-$3 and light calves were steady to $2.25 lower.
Alberta auction markets saw 28,000 head trade, down 38 percent from the previous week and 32 percent lower than last year, said Canfax.
Light demand and limited offerings for butcher cows pressured prices down by $3-$5. Butcher bulls were down 75 cents.
Quality and the strong dollar will continue to be an issue. Volumes will drop as the grass greens.
Feeder exports for the week ending April 21 totalled 7,675 head, said Canfax.
In stock cow trade, bred cows in central and northern Alberta traded steady at $750-$950 with plain types $550-$700.
Bred heifers in northern Alberta were $800-$1,000 with plain types $550-$750.
Cow-calf pairs were mostly $950-$1,200, with tops to $1,450 and plain types $650-$900.
Hogs rise
Iowa-southern Minnesota hogs traded April 20 at $51 US per cwt. up from $48.50 April 13.
The U.S. composite pork carcass cut-out value was $71.21 April 20, up from $68.16 on April 13.
Federal slaughter in the United States last week was 19.84 million, up a little from 19.71 million the week before.
Bison steady
The Canadian bison report was not available.
The U.S. Department of Agriculture reported April 10 that carcasses from bulls younger than 30 months dipped to an average of $180.68 US for March, down from $181.75 in February.
Cull cows climbed to $115.68 per cwt.
Lambs steady to stronger
Ontario Stockyards reported 1,553 sheep and lambs and 48 goats traded last week.
Light lambs sold $10-$15 per cwt. lower while heavy lambs were $10-$15 stronger. Sheep sold steady to $5 per cwt. lower. Goats were firm.
