Fed cattle up $4-$5
The fed cattle market trended higher last week, said Canfax.
Fed steers traded from $83 to $87 live and $142.80 to $145.05 per hundredweight on the rail.
The weekly average steer price was $85.57 per cwt., an increase of $4.35 from the week before.
Heifers traded from $83.89 to $87 per cwt. live and $142.50 to $144.30 on the rail, pushing the weekly heifer average up $5.12 to $85.36.
Feedlots sold their entire show lists. The volume traded was about 18,000 head.
The Alberta-Nebraska basis narrowed to $9.93 under from $13.10 under the week before.
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Fed cattle exports two weeks ago slipped to 19,334 head with the decline is most likely due to the U.S. Thanksgiving holiday.
Canfax said that with the loonie stabilizing just above par, steady Canadian fed supplies and tightening U.S. supplies expected over the next few weeks, Canadian prices should be fairly steady.
Beef price edges higher
U.S. cut-out values rose early in the week as supply tightened after plant closures during American Thanksgiving the week before. Cut-out values dropped later in the week as supply rose.
The Choice cutout peaked at $151.34 midweek but slid back to $149.88 Dec. 29.
The Choice cutout ended the week at $147.98, $1.90 more than Nov. 23. The Select cutout rose $1.13 to $135.73.
Canfax said there is better holiday buying demand for ribs and tenders but Canadian packers face stiff competition from U.S. product and other meats.
The Calgary wholesale market for delivery this week was $5 higher at $140 to $142 per cwt.
Feeders rise
Feeder cattle prices rose across the board, said Canfax.
Volume rose seven percent and buyer interest was strong.
Steers 300-600 pounds were steady while 600-700 lb. steers rose $1.74 per cwt. Steers 700-900 lb. and heavier jumped $3-$4.
Light heifers 300-500 lb. gained $1-$1.75, 600-700 lb. heifers climbed $3 per cwt., while 700-900 lb. and heavier gained $1.75-$2.25.
Feeder exports were down 15 percent from the week before to 13,346 head.
Year to date, exports are up 65 percent over last year.
Canfax said the increase in fed prices should support feeder prices. Auction volumes were steady in November and are expected to continue steady until the holiday season.
D1, 2 cows fell 14 cents. Butcher bulls were unchanged.
The slaughter cow and bull market should remain steady until the new year.
A few slaughter cows might have been held in hope of a stronger export price, but that did not materialize so the number delivered to the domestic markets might edge higher.
There was a wide range of bred cow prices and supplies appear to be exceeding demand.
Hog price rises
U.S. slaughter plants continued to post good profit margins and kept kill numbers high. They bid higher to get the hogs needed to maintain the pace.
Iowa-southern Minnesota cash hogs traded at $38.50 to $39 US per cwt., up from $37-$37.50 on Nov. 23.
The U.S. composite pork carcass cut-out value closed at $60.55 on Nov. 30, up from $59.10 on Nov. 23.
U.S. slaughter for the week was estimated at 2.397 million, compared to 2.02 million the week before and 2.159 million a year ago.
Bison sales at Agribition
The regular Canadian Bison Association report is unavailable.
Bison prices at the Agribition annual national show and sale saw increases of more than 20 percent. Two-year-old bulls averaged $2,450 compared to slightly more than $2,000 in 2006 – a 22.5 percent increase.
Bred two-year-old heifers increased 33 percent with an average of $1,800 compared to $1,350 last year.
Yearling bison bulls averaged almost $2,350 compared to $1,550 last year. Yearling heifers averaged almost $920 compared to about $740 last year.
“These prices certainly reflect the cautious optimism in the industry,” said Mark Silzer, president of the Canadian Bison Association.
Sheep steady to stronger
Beaver Hill Auction in Tofield, Alta., reported 661 sheep lambs and 111 goats traded Nov. 26.
Sheep, lambs and goat prices were steady to $10 per cwt. higher.
Lambs lighter than 70 lb. were $126-$148 per cwt. Lambs 70 to 85 lb. were $118-$130, 86 to 105 lb. were $112-$124 and 106 and heavier were $97-$111.50.
Rams were $50-$79 per cwt. Cull ewes $40-$60 per cwt. Bred ewes were $60-$97.
Good kid goats were $150-$190 per cwt.
Nannies were $41-$72 per cwt. and mature billies were $130-$160.
Ontario Stockyards reported 1,828 sheep and lambs and 72 goats traded last week. New light lambs traded at higher prices. Other lambs, sheep and goats sold steady.
