Fed cattle steady, lower
It was another slow week for fed cattle sales with prices mostly steady to 25-50 cents per hundredweight lower, Canfax said.
Most business was done midweek with steers averaging $85.14 per cwt. live and $141 on the rail and heifers $84.70 live and $141 on the rail.
Prices Dec. 13 were steers $140.05 rail and heifers $84.15 live.
The weekly average for steers was $85.01, 34 cents lower than the previous week and heifers $84.70, down 57 cents. About 14,500 head sold.
Exports to the U.S. totalled 18,001 head, up four percent from the previous week.
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Canfax said packer interest might not improve until the new year and feedlot supplies should maintain steady.
Prices are expected to remain steady until Christmas, Canfax said.
The Canadian market has been relatively stable since the Canadian dollar settled into a narrow trading range.
The Calgary wholesale beef market for delivery this week was steady at $142-$143 Cdn per cwt.
The U.S. Choice cutout was quoted at $147.24 US Dec. 13 compared to $147.63 the week before. Select ended the week 85 cents higher at $132.
Some packers have plans to reduce slaughter for the remainder of December to reduce production and push cut-out values higher.
Volume rises, prices fall
Feeder auction volumes rose considerably, pressuring prices lower on all weight classes, said Canfax.
The volume sold totalled 67,512 head, or 14 percent more than the week before but 19 percent lower than a year ago.
The larger regular sales during the week were the result of the special calf and presort sales winding down.
Lighter steers 300-599 pounds were 25 cents-$1 per cwt. lower. Mid-range steers 600-799 lb. fell $2-$2.25 and 800-900 lb. and heavier steers fell $1.20.
Heifers 300-400 lb. dropped $2 while 400-500 lb. dipped 25 cents and 500-699 lb. dropped $1.50. Heifers 700-900 lb. and heavier fell 50-75 cents.
Feeder cattle exports to the U.S. were down 13 percent from the previous week, totalling 19,204 head.
Canfax said feeder prices should be steady for the rest of the year and demand should be good due to year-end tax buying.
Slaughter cows were unchanged. Butcher bulls rose 50 cents per cwt.
Slaughter cows should be steady to slightly lower and butcher bulls should see no significant change until the new year.
On-feed number shrinks
There were 987,402 cattle on feed in Alberta and Saskatchewan Dec. 1, down six percent from 2006, and down 11 percent from 2005.
Not including 2003, the total is the smallest for December since the cattle-on-feed report began in 2000.
Placements in November totalled 239,634 head, down six percent from last year. Contributing to this were U.S. exports that totalled nearly 80,000, up 60,000 over last year.
Marketings for slaughter in November totalled 206,351 head, down four percent from the same month last year. Larger feedlots saw marketings drop 14 percent from last year.
Hogs fade
A winter storm early in the week forced American packers to raise bids to get supply, but as the weather cleared prices fell back.
Prices are expected to be lower this week as producers try to market more before Christmas and packers prepare for reduced holiday operations.
October U.S. pork exports were a record for any month and annual exports are now running at a record pace.
Iowa-southern Minnesota cash hogs traded at $41.50 US per cwt. Dec. 14, up from $40 Dec. 7.
The U.S. composite pork carcass cut-out value closed at $58.93 Dec. 14, down slightly from $59.05 Dec. 7.
U.S. slaughter for the week was estimated at 2.365 million, compared to 2.383 million the week before and 2.157 million a year ago.
Bison prices edge lower
The Canadian Bison Association said the sales range widened last week with the lower end dropping five cents per lb. Grade A carcasses from bison bulls younger than 30 months in the desirable weight range in Canada were $1.80-$1.90 per lb.Heifers were $1.75 in Canada to $1.90.
Rail prices for top quality, youthful, older-than 30-month bulls and heifers were steady at $1.75-$1.90 per lb.
Cull cows were unchanged at 60 cents and bulls were 45-65 cents per lb. hot hanging carcass. Check with marketers regarding large herd bulls for prices and acceptability.
New lamb prices up
Beaver Hill Auction in Tofield, Alta., reported 1,111 sheep and lambs and 336 goats traded Dec. 10.
Sheep and goat prices were steady to higher. Light finished lambs saw excellent demand. Fat lambs 77 lb. sold for $146.75 per cwt.
Lambs lighter than 70 lb. were $120-$134 per cwt. Lambs 70 to 85 lb. were $126-$149, 86 to 105 lb. were $121-$139 and 106 lb. and heavier were $105-$123.50.
Rams were $40-$59 per cwt. Cull ewes were $40-$68 per cwt. Bred ewes were $77-$101. Good kid goats were $160-$202 per cwt.
Nannies were $69-$97.50 per cwt. and mature billies were $110-$166.
Ontario Stockyards reported 5,057 sheep and lambs and 1,002 goats traded last week. Well fed new-crop lambs sold at strong prices while all other lambs and sheep traded steady. Good goats sold strong, others held firm.
