Fed prices rise
Fed cattle prices climbed $2.50 per hundredweight higher last week. Steers averaged $90.36 per cwt. and heifers were $89.59, said Canfax.
Volume was about 20,000 head, down 11 percent from the week before. Lighter calves are starting to hit the market and carcass weights should fall. The cash to futures basis was $3.25 under compared to $3.67 under last week.
Exports to the United States totalled 13,728 head, up 35 percent from the week before and 12 percent lower than the same week last year.
Canfax said packers would struggle to procure fed supplies for several weeks as the feedlot supply tightens. Prices should climb into the mid $90s heading into May.
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U.S. demand is waning as the basis tightens and fewer cash cattle are expected to head south, said Canfax.
Beef prices rise
U.S. Choice cutouts rose $5.36 to $155.27 US. Select rose $4.14 to $151.73. The spread is historically narrow but is expected to widen as more calves are finished, resulting in fewer Choice animals, said Canfax. Also, May typically sees strong demand for Choice cuts.
Calgary wholesale prices for delivery this week rose $6 to $151-$152. Montreal rose $3 to $153-$155.
Feeders little changed
Cold, snowy weather reduced the number of head going to market. Volume was down 50 percent from the week before.
Heifers were down on average by 68 cents per cwt. and steers were up 10 cents.
Steers 600-800 pounds were $95.16 last week, up $1.07 and heifers in the same range were 50 cents lower at $84.04.
Steers 800-900 lb. averaged $85.03, up 37 cents. Heifers 800-900 lb. were $1.34 lower at $74.69 because replacement heifer demand has likely dropped off, said Canfax.
Steers heavier than 900 lb. were steady at $81.27 and heifers were $76.80.
High feed costs are keeping light cattle prices under pressure. Compared to last year, prices for steers 300-600 lb. are down $23 per cwt. and heifers are down $24.17.
Heavier steers 600-900 lb. are down $16.42 per cwt. compared to last year and heifers are down $16.77.
For the week ending April 19, feeder exports to the U.S. totalled 14,210.
Canfax expected feeder prices to improve this week based on the strong showing in fed cattle. But rising feed costs will keep a lid on increases.
D1, 2 cows rose $2.09 to $49.50 last week. Butcher bulls were steady at $51.09. Bred cows averaged $700 in light volume.
Slaughter cows and bulls should continue to see strong demand, Canfax said.
Hog prices strengthen
U.S. hog prices rose last week, pushed higher by strong demand and talk of new pork export business to China and Russia.
Domestic demand is also stronger as the grilling season approaches.
Markets were also supported by a Statistics Canada report that said Canadian hog numbers are down about 12 percent from the same time last year.
Iowa-southern Minnesota cash hogs showed good strength last week with prices jumping to $53.50-$54 US per cwt. April 25, up from $48 April 18.
The U.S. composite pork carcass cut-out value rose to $73.41 April 25, up from $67.50 April 18.
U.S. slaughter for the week ending April 26 was estimated at 2.25 million, down from 2.32 million the week before but 13.5 percent more than last year.
Bison supply tightens
The Canadian Bison Association said prices improved on tight supply.
Grade A carcasses from youthful bulls in the desirable weight range in Canada were $2.05-$2.25 per lb.
Heifers were $1.95-$2.10 per lb.
Cull cows and bulls averaged 90 cents per lb. hot hanging carcass.
Lamb prices steady
Ontario Stockyards reported 2,172 sheep and lambs and 191 goats sold April 21.
Good light lambs saw stronger prices but heavy lamb prices dropped $5 per cwt. Sheep dropped $5-$10 per cwt. Goats sold at stronger prices.
