Fed cattle steady
The fed cattle market was slow to develop last week and most of the business happened midweek, Canfax said.
Steers traded from $86.25 to $89 per hundredweight live and $144.50 to $146.30 on the rail with the weekly average 20 cents higher at $87.68.
Heifers traded from $86.75 to $87.15 per cwt. live and $144.85 to $146.30 on the rail with the weekly average 60 cents lower at $86.77.
About 22,000 head traded as producers reluctantly sold into the steady market.
The Canada-U.S. cash to cash basis was $10.21 under.
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The U.S. market was expected to be steady this week, meaning Canadian prices would likely follow suit.
In the United States, Tyson said it would not operate several plants on Sept. 10 to try to improve its margins by pressuring cattle lower and beef higher.
A report showing weak job creation in August in the U.S. sparked fears of recession that might weaken beef demand.
Beef price rises
The cutout rose as packers were able to push recent higher cattle costs onto the wholesale beef market. The Choice cutout advanced $1.29 US to $148.34 on Sept. 6 while Select was up $1.73 to $142.30. The Choice-Select spread narrowed slightly to $6.04 from $6.48 the week before.
A year ago the Choice-Select spread was $10.25.
U.S. beef movement was moderate and steady with the week before.
The Calgary wholesale market for delivery this week was $1-$2 Cdn higher at $151-$153.
Feeders mixed
The fall run is in high gear with large volume headed to market.
Even with the short week, Alberta auction market volume at 46,148 head sold was two percent larger than the week before and 26 percent larger than last year.
Feeder cattle prices were mixed with quality fetching premiums but poor quality animals were dis-counted, Canfax said.
Heifers traded lower in all weight categories with light calves 300-600 pounds steady to $2.25 per cwt. lower and 600-800 lb. down 50 cents-$1. Heifers 800-900 lb. and heavier fell 75 cents.
Steers were mixed with 300-500 lb. down $1.75-$2.25 and 500-700 lb. steady to $1 higher. Steers 800-900 lb. were steady while 900 lb. and heavier were 25 cents lower.
Trade on cow-calf pairs dwindled, with most split at auction. Butcher cows were down 50 cents and butcher bulls were $1 lower, but some strength emerged late in the week.
Feeder cattle exports for the week ending Sept. 1 were 11,775 head, up 92 percent from the week before.
Year to date exports are 25 percent higher than last year at 255,706 head.
Light offerings of calves will most likely see prices mixed, Canfax said.
Higher feed grain prices have not dampened heavy feeder cattle interest. With continued good demand for heavy feeders, steady to stronger trade was expected this week.
Auction market volumes should continue strong. Expect good local and U.S. buyer interest.
Hog bids fall
U.S. cash hog bids fell last week because there was an abundance of market ready hogs and pork prices were weaker.
Slaughter pace was expected to remain strong because of profitable plant margins.
Iowa-southern Minnesota hogs traded at $46 US per cwt. on
Sept. 7, down from $47 posted on Aug. 31.
The U.S. composite pork carcass cut-out value rose by midweek but then fell to $67.31 Sept. 7, down from $68.74 Aug. 31.
U.S. slaughter for the week was estimated at 1.94 million, compared to 2.09 million the week before and 1.89 million a year ago.
Bison report
Prices were stronger on quality animals.
Grade A carcasses from bison bulls younger than 30 months in the desirable weight range in Canada were $1.80 Cdn per lb., with prices to $1.90 on sales to the U.S., the Canadian Bison Association said. Heifers were $1.70-$1.75.
Rail prices for top quality, youth-ful bulls older than 30 months and heifers averaged $145, with sales to $160.
Cull cows and bulls ranged from 45 to 60 cents per lb. hot hanging carcass.
Lambs weaken
Beaver Hill Auction in Tofield, Alta., reported 1,317 sheep and 270 goats traded Aug. 27. Lambs were generally weaker but sheep and goats were steady.
Lambs lighter than 70 lb. were $132-$182.50 per cwt.
Lambs 70 to 85 lb. were $128-$153, 70 to 85 lb. were $128-$142, 86 to 105 lb. were $126-$137.50 and 105 lb. and heavier were $109-$137.50.
Rams were $60-$96 per cwt. and cull ewes $52-$72 per cwt. Families were $120-$165 per unit.
Good kid goats were $160-$205 per cwt.
Nannies were $65-$88 per cwt. and mature billies were $166-$192.50.
Beaver Hill will run weekly sales this fall.
Ontario Stockyards reported 1,224 sheep and lambs and 92 goats traded last week.
An average run of light lambs traded at barely steady prices. Heavy lambs and goats were steady, while sheep sold lower.
