Steers up, heifers down
Fed cattle prices were mixed last week with steers up 50 cents per hundredweight while heifers were down $1.25, said Canfax.
By the end of trade Jan. 10, the Canfax weekly average steer price was $82.75 per cwt. This slight increase was due mainly to the high percentage of steers sold at the top end rail prices. Heifers finished at $82.84.
Sale volume rose 56 percent to slightly more than 18,500 head.
Exports to the U.S. were steady at 9,813 head and up one percent from the same week last year.
Read Also
USDA’s August corn yield estimates are bearish
The yield estimates for wheat and soybeans were neutral to bullish, but these were largely a sideshow when compared with corn.
Canfax said increased cattle performance due to mild feeding conditions is causing fed cattle weights to rise and this should increase beef supply and cause prices to trend lower.
Packers are now focused on increasing cow slaughter for ground and trim meat export. Fed cattle will have this additional competition for packer interest and kill floor space.
Beef weakens
The Calgary wholesale market for delivery this week was $3 lower at $140-$142. U.S. beef cut-out values were steady last week with Choice up 35 cents to $154.05 US, and Select up $1.21 to $139.31.
Feeder prices fall
Feeder cattle auction market action resumed last week, said Canfax.
Volumes were light at 17,024 head, down 20 percent from last year.
Prices fell significantly from the week before, with 400-500 pound steers down $3 Cdn and 500-600 lb. down 50 cents. Steers 600-900 lb. and heavier dropped $4-$5. Heifers were generally down $3-$5 per cwt.
United States Department of Agriculture reported feeder exports to the U.S. for the week ending Jan. 5 were 23 percent higher than the same week last year. Also exported were 1,694 slaughter cows and bulls.
With feed grain prices rising, feeder prices will likely fall this week if the loonie stays near par. A rebound in January is unlikely.
D1-D2 slaughter cows and butcher bull prices should remain steady in the near term due to the increase in cow kill, said Canfax.
Feedlot population down
The total number of cattle on feed in Alberta and Saskatchewan Jan. 1 was down eight percent from last year and down four percent from 2006.
Canfax said placements in December were down 22 percent from December 2006, but that month saw exceptionally strong numbers.
The number of cattle marketed by the Canfax survey group was 141,696, down 10 percent from last year.
The number of steers and heifers killed domestically or exported for slaughter in Alberta and Saskatchewan in December totalled almost 166,000 head, down three percent from the year before. The Canfax group accounted for 85 percent of total marketings in December. Total disappearance in December was down nearly 3,500 head compared to last year.
Hog prices fall
Hog prices dropped again as supply continues to be ample even for an ambitious kill rate.
Profitable pork plant margins kept the slaughter pace high.
Soaring corn prices caused nearby Chicago lean hog contract prices to slump on expectations that producers will push hogs to market as quickly as possible. Iowa-southern Minnesota cash hogs traded at $35 US per cwt. Jan. 11, down from $36 Jan. 3.
The U.S. composite pork carcass cut-out value closed at $55.54 Jan. 11, down from $56.15 Jan. 3. U.S. slaughter for the week ending Jan. 12 was estimated at 2.44 million, up 21.5 percent over the week before and 16 percent more than the same week the year before.
Bison supply tightens
The Canadian Bison Association said prices are rising as supply tightens.
Grade A carcasses from bison bulls younger than 30 months in the desirable weight range in Canada were $1.80 to $2 per lb.
Heifers were $1.65 to $1.85 per lb.
Cull cows were 60 to 70 cents and bulls 45 to 65 cents per lb. hot hanging carcass.
The January U.S. Department of Agriculture report said young bull carcasses were $185-$210 US per cwt., for an average of $203.27 in December. Heifers were $175-$210 for an average of $194.39
Sheep mostly steady
Ontario Stockyards reported 1,777 sheep and lambs and 133 goats traded last week. All classes of lambs, goats and thinner type sheep sold at steady prices. Fat sheep saw lower prices.
