Fed cattle trade higher
Feedlots were active sellers with steers ending last week 50 cents per hundredweight higher and heifers 75 cents higher, Canfax said.
There was little U.S. buying interest due to the high Canadian dollar.
Trade was slightly less than 23,000 head, steady with the week before.
Alberta prices July 26 were fed steers $84-$85.75 live and $140.85-$141.30 on the rail and heifers $141.30 flat rail.
Fed cattle exports for the week ending July 21 totalled 10,899 head, up 25 percent from the previous week.
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Packers are not killing at full capacity so keeping current heading into larger numbers in August will help support a steady market, said Canfax.
There is speculation that the summer lows have been posted and improved beef demand in August will lift cattle prices.
U.S. market improves
The U.S. beef market was good with packers able to move a lot of inventory, said Canfax.
The Choice cutout dipped by $1.73 US to $140.53 and Select was down $2.03 at $134.64.
The Choice-Select spread was $5.89.
In Canada, mid July AAA cutouts were lower by $2.33 Cdn at $161.09 but AA cutout was up $2.54 at $158.29.
Beef movement is slow in Western Canada and most of Eastern Canada’s needs are being met by U.S. retailers.
The Calgary wholesale price for delivery this week is down $1 at $150-$151.
Feeder market mixed
Auction market volumes were larger, partially due to the heat wave, said Canfax. Grass is drying up in some places.
Alberta auction market volumes at 14,574 head were up 35 percent from the week before but were 30 percent below last year.
Steer calves 300-400 lb. were $1 higher but steers 400-600 lb. were $3-$3.75 lower.
Steers 600-800 lb. were $2.25-$3 lower and steers 800-900 lb. and heavier were 50 cents-$2.50 higher.
Heifer calves 300-600 lb. were $2.25-$4.25 lower and 600-800 lb. were 50 cents-$2 lower.
Heavy heifers 800-900 lb. were 50 cents-$5.25 higher.
Slaughter cow prices rose $1.25-$1.50 but as the week progressed trade seemed to soften. Butcher bulls were $2.50 higher.
Feeder cattle exports for the week ending July 21 were 5,333 head.
Canfax said good demand for heavy feeder cattle should keep prices steady to slightly higher.
Grass conditions are still good in many areas so volumes may be limited until the grass runs out.
Butcher cows will likely trade softer this week.
Stock bred cattle trade was stronger with more offerings.
Bred cows were $800-$1,000 while plain types were $600-$750, said Canfax.
Bred heifers in northern Alberta were $650-$850.
Cow-calf pairs were mostly at $900-$1,200 with tops to $1,360 and plain types $600-$850.
Hog prices rise
It was a wild week on the Chicago hog futures market with prices swinging up on speculation about pork sales to China and then falling back.
The cash market started out strong on good packer margins, pork prices and slaughter activity, but packers’ margins fell into the red by the end of the week, prompting speculation that slaughter numbers would decease this week.
Iowa-southern Minnesota hogs traded at $54 US per cwt. July 27, up from $52 July 20.
The U.S. composite pork carcass cut-out value started off the week strong but drifted lower to $74.40 July 27, down from $76.24 July 20.
U.S. slaughter for the week was estimated at 1.977 million, compared to 1.961 million the week before and 1.898 million a year ago.
Bison steady
The Canadian Bison Association did not file a report.
Lamb prices weaken
Ontario Stockyards reported 1,434 sheep and lambs and 122 goats traded last week.
Lambs sold $10-$15 lower and sheep and goats were steady.
Beaver Hill Auction in Tofield, Alta., reported 1,073 sheep and 141 goats traded July 23.
The market was steady to slightly softer. Fat lambs heavier than 70 lb. saw the best demand.
Lambs lighter than 70 lb. were $134-$167.50 per cwt.
Lambs 70 to 85 lb. were $124-$154, 86 to 105 lb. were $131-$144 and 105 lb. and heavier were $110-$135.
Rams were $56-$91 per cwt. and cull ewes $52-$68 per cwt.
Bred ewes were $90-$120 per head and families were $120-$165 per unit.
Good kid goats were $155-$200 per cwt.
Nannies were $55-$80 per cwt. and mature billies were $145-$197.50.
