Fed cattle stronger
Steers averaged $98.33 per hundredweight, up $1.94 compared to the week before and heifers rose 81 cents to $96.76, said Canfax.
Prices were helped by the lower Canadian dollar and by a stronger American market, supported by stronger beef prices and the expectation of a tighter supply of market-ready animals in late August.
Trade volume in Alberta totalled 26,500 head, up 71 percent from the holiday-shortened first full week of August.The showlist and outstanding carryover were swept clean.
The cash to futures basis widened to $11.59 under compared to $10.37 the week before. About 8,760 head were exported to the U.S., up 38 percent from the week before, but 72 percent down from last year.
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Canfax said fed prices are expected to be fairly steady for the next few weeks.
By mid September, the supply of market-ready fed cattle will have mostly dried up and prices are expected to climb higher. Beef demand in the fall could drop, but still exceed projected supply.
D1, 2 cows in Alberta were mostly steady at $54.25, down 25 cents per cwt. from the week before, but $10 higher than the same week last year.
Butcher bulls gained $2 to average $66.
Pairs are being separated at auction, providing a steady stream of slaughter cows. Prices will see some pressure as volumes start to build going into the fall, said Canfax.
Cow slaughter in the U.S. is picking up because of drought in Texas.
Beef climbs
U.S. Choice cutouts rose to $164.84 per cwt., up $2.90 from the week before. Select was $157.72, up $2.63, said Canfax. U.S. beef exports in June were 27 percent higher than last year.
Byproduct values in Western Canada have averaged $112.50 in recent weeks, up 10 percent from last year and 21 percent from 2006.
The Calgary wholesale for delivery this week is up $2 to $164-$166.
Feeders mixed
A large volume of feeder cattle trade saw mixed prices, said Canfax. Most auctions have resumed sales after a summer break.
New crop 300-400 lb. quality steers rose sharply by $4.50 per cwt.
Steers 400-500 lb. rose $2, but 500-700 lb. dropped 25-75 cents.
Steers 700-800 lb. saw strong demand and prices $3 higher.
A large volume of grass cattle at 800-900 lb. and heavier saw prices $1.50-$2.25 stronger.
Steers 900 lb. and heavier averaged $102.83, up 61 cents from last year at the same time.
Heifers 400-600 lb. fell $2.50-$3 while 600-700 lb. fell by $1.25.
Heifers 700-900 lb. rose 50 cents and 900 lb. and heavier rose by $1.
Sales volume of 37,809 head was up 25 percent compared to the week before and up 55 percent from last year, said Canfax.
About 2,600 feeders headed south, up 37 percent from the week before, but down 48 percent from last year.
Canfax said volume should increase as yearlings come off grass.
Cow-calf pairs averaged $996.25, up $183.75 from the week before.
Bred cow and heifer trade was too light to report.
On-feed report
There were 673,735 head in feedlots in Saskatchewan and Alberta Aug. 1, down 16 percent from last year at the same time.
Placements in July totalled 84,936, up four percent from last year.
Marketings in July totalled 181,452, up 17 percent. Other disappearance in the month was 13,303, up one percent.
Placement followed the seasonal trend with more light feeders placed as 2008 calves are weaned.
Traders fear slow exports
Strong exports pushed U.S. pork cut-out prices to new record highs last week, but hog prices edged lower on expectation that the export pace would slacken, discouraged by the stronger American dollar.
The weaker Canadian dollar is helping to improve hog prices here.
Iowa-southern Minnesota cash hogs dipped to $64.50-$65 US per cwt. Aug. 15, down from $66 Aug. 8.
The U.S. composite pork carcass cut-out value climbed to $94.41 Aug. 15, up from $92.32 Aug 8.
U.S. slaughter for the week ending Aug. 16 was estimated at 2.14 million, up from 2.13 million Aug. 9.
Bison stable
The Canadian Bison Association said markets were steady. Grade A carcasses from youthful bulls in the desirable weight range in Canada were $2.20-$2.30 per lb. hot hanging weight. Heifers were $2.10-$2.30 per lb. Cull cows and bulls were 90 cents to $1 per lb.
The U.S. Department of Agriculture said bison prices in July were mostly steady but higher on the top end for young bulls and heifers.
Young grain-fed bull carcasses at plant had a weighted average price of $228.63 US per cwt. and young heifer carcasses were $221.07.
Lambs steady
Ontario Stockyards reported 1,829 sheep and lambs and 85 goats traded Aug. 11. Well-fed lambs were steady while underfinished kinds were barely steady. Good sheep traded higher and goats were firm.
Beaver Hill Auction in Tofield, Alta., reported 706 sheep and lambs and 306 goats traded Aug. 11.
The spread between grass-fed lean and full fed lambs widened.
Lambs were steady to higher. Cull sheep were $10 per cwt. higher. Well-fed kids were higher while light kids were barely steady. Lambs lighter than 70 lb. were $80-$137 per cwt. Lambs 70 to 85 lb. were $90-$129, 86 to 105 lb. were $107-$127 and those heavier than 105 lb. were $100-$116.
Rams were $35-$54 per cwt. Cull ewes were $30-$50 per cwt. Ewe-lamb families were $100-$210 per unit.
Good kid goats were $145-$217.50. Nannies were $62-$126 per cwt. and mature billies were $100-$155. Goat-kid families were $100-$230 per unit.
