Feds mostly steady
The fed cattle market was steady to slightly stronger last week as higher prices in the United States and strong producer resolve not to sell at lower prices forced packers to raise bids.
This was good news in a market hard pressed to find anything positive recently, Canfax said.
The U.S. market provided no direction as it closed for the July 4 holiday, so most trade occurred July 5.
Steers averaged $83.78 per hundredweight with trades from $81.60 to $85.10 live and $137.35 to $139.60 rail.
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Heifers averaged $83.62 per cwt. and traded from $82.85 to $84.25 live and $138.80 rail.
Volume was light with about 17,000 head trading. Almost 6,500 head were expected to be carried into this week, Canfax said.
The cross-border cash-to-cash basis widened to $9.21 under.
For the week ending June 30, 9,846 fed cattle were exported.
Higher fed cattle prices in northern states will provide support to the Canadian market this week.
Beef steady
The U.S. beef market appears supported at current price levels after showing a downward slide since this spring, said Canfax.
Cut-out values were slightly higher last week with the Choice ending the week at $139.85 US, up 64 cents from the week before, while the Select was $133.40, up $1.42.
Western Canadian packers struggled to move middle meats as retailers focused on cheaper end cuts.
The Calgary wholesale market for delivery this week was steady at $151-$153 Cdn.
Feeders lower
Feeder steers were steady to $8 lower and heifers were 25 cents-$3 lower, said Canfax.
Alberta auction market volumes were 46 percent smaller than the week before and 13 percent smaller than last year at 9,243 head.
Steers 300-600 pounds fell $1.50-$5.75 and heifers 300-600 lb. were $1.75-$2.25 lower.
Steers 600-800 lb. were $3-$8 lower and heifers 600-800 lb. were $1-$3 lower.
Feeder steers 800-900 lb. and heavier were steady to $1 higher and heifers 800-900 lb. and heavier were 25-50 cents lower.
For the week ending June 30, 4,555 feeder cattle were exported, down 43 percent from the week before.
Butcher cows dropped 25-50 cents and butcher bulls were $1.25 higher.
Auction market volume is not expected to pick up until mid-August or early September. With limited offerings, prices will be mixed with good quality bringing the best prices.
There is some uncertainty whether the butcher cow market is drying up. If so, look for continued volatility there, Canfax said.
Stock bred cows and bred heifers in northern Alberta traded $400-$875.
Cow-calf pairs were $900-$1,200, with tops to $1,325 and plain types $650-$850.
Hog prices fall
The fall in pork prices leveled off last week, but packer margins were negative.
Hot weather in the Midwest this week was expected to reduce hog deliveries and slow weight gain.
Iowa-southern Minnesota hogs traded at about $52.50 US per cwt. July 6, down from $54 June 29.
After falling earlier, the U.S. composite pork carcass cut-out value recovered to $72.23 July 6, slightly down from $72.60 June 29.
U.S. slaughter for the holiday-shortened week was estimated at 1.65 million, compared to 1.94 million the week before and 1.62 million a year ago.
Bison pressured
The rising dollar applied downward pressure on bison prices, said the Canadian Bison Association.
Grade A carcasses from bison bulls younger than 30 months in the desirable weight range in Canada were $1.80 Cdn per lb. with sales to $1.85 and heifers were $1.60-$1.65.
Rail prices for top quality, youthful, older-than 30-month bulls and heifers were $125-$150 per cwt. Marketers report most older animals have moved. There have been a few sales to $1.60 per cwt. but only to make up loads.
In light trade, cull cows were 45 cents per lb. hot hanging carcass.
Lambs steady
Ontario Stockyards reported 801 sheep and lambs and 81 goats traded last week.
In moderate demand, all lamb, sheep and goats traded at steady prices.
