Western Producer Livestock Report

Fed cattle rise

The Canfax average steer price last week was $91.56 per hundredweight, up $1.25 while heifers traded at $90.69, $1.10 higher than the week before.

Sale volumes were slightly less than 21,000 head, up three percent from the previous week.

With the exception of some cleanup yearlings, price ranges tightened.

Weights are declining as market-ready supply tightens.

The cash to futures basis narrowed to $1.64 under, compared to $3.25 under last week.

Fed exports totalled 10,432 head, down 24 percent from the week before and 29 percent lower than last year.

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Canfax said tight fed supplies will challenge packers through May.

Rising fuel prices may see packers opt away from delivered bids as freight rates climb.

If the Canadian dollar drops against the U.S. greenback and supply stays tight, prices could rise through May, said Canfax.

Beef prices rise

The Calgary wholesale for delivery this week rose $1 to $151-$153 Cdn.

The Montreal wholesale for next week delivery is up $4 at $158-$159.

U.S. Choice cutouts fell $1.01 US to $154.26 May 1 while Select rose 90 cents to $152.63. Analysts believe the spring highs are in for beef prices and the seasonal decline into July will begin, but the resumption of near normal U.S.-South Korea beef trade will limit the fall.

Feeder prices, trade increase

Feeder cattle saw good demand with steers averaging $2.05 higher and heifers averaging $1.71 higher.

Volumes traded rose 61 percent from the previous week to 37,047 head. That was about steady with last year’s trade.

Heifers 600 pounds and heavier rose $2.33 per cwt. from the week before.

Demand was weaker for heifers lighter than 600 lb., which rose 88 cents.

Steers heavier than 600 lb. rose $1.98. Steers lighter than 600 lb. rose $2.16.

U.S. cattle feeders showed good interest and exports rose to 15,688, up from 14,210 the week before.

Canfax said feeder cattle volumes are expected to remain steady.

D1, 2 cows averaged $49.81, up 31 cents from the week before and $9.62 stronger than a year ago.

Bred cows averaged $753.13 in light volume. That was $50 lower than a year ago.

Cow-calf pairs averaged $847.92.

Butcher bull average prices were steady at $51.09. That was $12.61 higher than last year.

D1, 2 slaughter cows and butcher bulls will see continued strong demand. Prices should remain steady to slightly higher going into next week.

Hog prices rise in U.S.

Cash hog prices rose last week in the U.S. as supplies tightened and carcass weights fell.

Futures markets fell in the middle part of the week when the U.S. dollar rallied, threatening what has been a record pace for pork exports.

Also negative for prices was news that Russia would stop importing from four American pork plants because of concerns about the antibiotic tetracycline.

Futures regained much of the losses by the end of the week, partly on news the federal government would buy $50 million US of pork for food programs.

Iowa-southern Minnesota cash hogs rose to $55.50 per cwt. May 2, up from $53.50-$54 on April 25, The U.S. composite pork carcass cut-out value rose to $75.19 May 2, up from $73.41 April 25.

U.S. slaughter for the week ending May 3 was estimated at 2.16 million, down from 2.25 million the week before but 9.4 percent more than last year.