Price discourages sales
There was little fed cattle trade last week because feedlots were unwilling to sell at the prices offered, said Canfax.
The lack of selling last week might mean larger Canadian showlists this week.
Fed steer average prices were 50 cents lower at $78.90-$80.20 per hundredweight and flat rail $132.50-$133.50.
Fed heifer averages were $2 lower at $78.50-$79.60 per cwt. and flat rail $132-$133.30.
Alberta prices Oct. 11 in light trade were steers $80.20 per cwt., flat rail $132.50-$132.70 and heifers $78.50.
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Volume was down 40 percent from the week before at about 13,500 head sold.
U.S. packers showed little interest and most cattle were sold to Canadian buyers.
Fed cattle exports for the week ending Oct. 6 were 22,156 head, up 64 percent from the previous week.
U.S. feeders held out against weak prices last week and managed to force packer bids higher, but packer margins are in a losing position.
Chicago fed cattle futures were under pressure late in the week partly because of falling feeder cattle and hog futures.
Beef prices weaken
U.S. Choice cutouts fell $2.78 to $143.96 US and Select dropped $1.97 at $134.36. The Choice-Select spread narrowed to $9.60, said Canfax.
The lower prices encouraged greater beef movement.
The Canadian market continues to struggle as large volumes of pork and beef are being imported from the U.S. The strong Canadian dollar is making imports cheaper.
The Calgary wholesale market for delivery this week was $3-$5 lower at $140-$142 Cdn per cwt.
Feeders drift lower
Pressure on the feeder market eased, but prices still were generally lower in most weight groups.
Good eastern and U.S. buyer demand has been apparent.
Large calf runs were expected to begin this week and continue for four to six weeks, said Canfax.
Steers 800-900 lb. and heavier were $1.50-$1.75 lower and heifers 800-900 lb. and heavier were 75 cents-$1 lower.
Steers 600-800 lb. were $2.25 lower and heifers 600-800 lb. were 50 cents-$3.50 lower.
Steer calves 300-400 lb. were $1.50 lower and those 400-500 lb. were $1.50 higher.
Steers and heifers 500-600 lb. were $1 lower.
The Alberta auction market volume was four percent smaller than the week before and 13 percent smaller than last year at 44,562 head. Auction market volume year to date is two percent larger at 1,344,591 head, said Canfax.
Feeder cattle exports totalled 16,606 for the week ending Oct. 6, down four percent from the week before.
Butcher cows were under pressure last week with D1, 2 cows $5.50 lower and D3 cows $5.25 lower. Butcher bulls were $6 lower.
Bred cows saw light trade with most selling at $700-$1,010 and plain types $400-$650.
Cattle on feed
Alberta and Saskatchewan had 855,367 head on feed Oct. 1, down three percent from last year but up 13 percent from Oct. 1, 2005.
Placements in September were down three percent from last year.
Auction market volume in Alberta was up 13 percent, but feeder cattle exports in September were nearly double that of last year to total almost 50,000 head, said Canfax.
That shows calves are moving south of the border rather than being placed on feed domestically.
Placements categorized by weight still show a large number of 800 lb. and heavier going on feed, up six percent from last year. Placements of 700 to 799 lb. cattle were down 23 percent, 600-699 lb. placements rose 28 percent while calves weighing less than 500 lb. fell 31 percent.
The total marketing number, including all slaughter and exports, in Alberta and Saskatchewan fell four percent from last year. That included a six percent decrease in exports and a three percent decrease in slaughter.
Cash hogs edge higher
Demand in the U.S. for pork products improved last week as U.S. Pork Month promotions approached. This helped support cash markets.
Iowa-southern Minnesota hogs traded at $43.50 US per cwt. Oct. 12, little changed from $43 Oct. 5.
The U.S. composite pork carcass cut-out value closed at $61.84 Oct. 12, up from $60.35 Oct. 5.
But futures fell sharply at the end of the week as traders became concerned about the record pace of pork production and growing hog supplies.
U.S. slaughter for the week was estimated at 2.35 million, compared to 2.32 million the week before and 2.16 million a year ago.
The U.S. Department of Agriculture raised its 2007 pork export estimate to a record 3.027 billion lb., up from 2.972 billion.
Bison report
The Canadian Bison Association said prices were steady last week despite the stronger Canadian dollar.
Grade A carcasses from bison bulls younger than 30 months in the desirable weight range were $1.80-$1.95 per lb. Heifers were $1.65-$1.90.
Rail prices for top quality, youthful, older-than 30-month bulls and heifers averaged $1.70 per lb.
Cull cows were 60-70 cents per lb. hot hanging carcass. Bulls were 45-65 cents.
Check with marketers regarding large herd bulls for prices and acceptability.
Lambs weaker
Ontario Stockyards reported 1,300 sheep and lambs and 234 goats traded last week.
All lambs and goats traded on dull demand at slightly lower prices.
All sheep traded actively at higher prices.
