Steady prices for fed cattle
Fed cattle prices were $2 per hundredweight higher last week on average.
Prices this week are expected to be steady. Heavyweight discounts continued on cattle over 900 lb.
Canfax said the higher price last week helped increase sales, especially from Canadian packers and fewer cattle traded south.
Alberta prices Feb. 10 were steers $90.50-$93.25 per cwt., flat rail $155.80-$157.10 and heifers $90.50-$93.25.
In wholesale beef trade the Montreal price was $160 per cwt. while the Calgary wholesale was mixed, from steady to $2 higher.
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That puts a handyweight steer in a range of $154-$170 with tops to $174. Heavyweight discounts were about $3 per cwt.
Alberta packers buying will be influenced by the Feb. 21 holiday in that province.
Sellers need to keep on top of their marketings as the heavyweight discount can eat up potential price improvements.
Slaughter cows sold $2 per cwt. higher on average due to increased packer interest, said Canfax.
Cow slaughter in Canada for the first five weeks of the year is eight percent down from last year.
Most D1,2 cows traded in a range of $55-$59 with grain feds to $64.75.
Feeder calves in demand
Feeder calf prices were steady while yearling cattle gained $2.
Demand for good quality feeders was steady to stronger as offerings remained light.
The supply of lightweight cattle was also limited.
Sales of feeders into the northern U.S. were reported.
Canfax expects a steady feeder market for a while.
Feedlots are not full and buyers will look to fill pens.
In stock cow trade, bred cows were $850-$1,450 with medium types $850-$1,200 and good quality cows mostly at $1,100-$1,450.
Bred heifers were $850-$1,300.
Cow-calf pairs were $1,000-$1,550 on the few sales reported.
Cautious demand for pork
Pork values in the United States fell early last week, causing packers to reduce bids and the futures market to slip.
Pork demand and prices improved by mid week, but packers were not willing to pay more for hogs.
Iowa-southern Minnesota hog prices (plant top, 51-52 percent lean, live equivalent) were $33.25-$44.50 (U.S.) per cwt. on Feb. 11, with the mean at $40.28 down $1.23 from the previous Friday.
Manitoba Agriculture said competition among hog processors in that province strengthened when Maple Leaf Pork raised its weekly Index 100 pool price (excluding premiums) to $165 per 100 kilograms Feb. 4 and the price was matched by other Manitoba hog buyers.
However, responding to the drop in U.S. hog prices, Manitoba Index 100 pool prices (excluding premiums) settled Feb. 11 at about $155 per ckg last week.
The estimated average Manitoba Index 100 hog price (including premiums) for all hogs slaughtered in the province was about $160 per ckg, which is close to the equivalent Iowa-southern Minnesota hog price for the week.
