Fed cattle lower
The Canfax average on steers was $95.46 per hundredweight, down $1.41 compared to the previous week, while heifers traded at $95.30, down 95 cents.
Sales volume was five percent smaller at about 19,000 head.
The cash to futures basis strengthened to $15.48 under compared to $16.63 under the week before and $17.52 under last year.
Exports to the U.S. totalled 12,962 head, down nine percent from the week before. That was 34 percent lower than last year, Canfax said.
The loonie was in the 82-85 cent range, less attractive to American buyers than when it was below 80 cents, but many feedlots are tapped out of market-ready cattle, and buyer interest is expected to improve, Canfax said.
Read Also
Push for Hudson Bay port shouldn’t rob funds from existing export hubs
An expanded Port of Churchill would unlock the dream to end the Prairie’s land-locked status with its own northern coast gateway to the world.
Tight fed supplies in November normally push prices higher. Smaller show list offerings could hold prices firm.
D1 and D2 cows in Alberta dipped to a range of $28-$46 per cwt. with an average of $36.24, down $5.24 from the week before.
Butcher bulls were $32.30-$64, with an average of $50.97, down $6.69.
Slaughter cow and bull exports totalled 5,949 head, the largest number since the border reopened.
Beef edges higher
AAA cutouts were $173.19, up 99 cents from the week before. AA cutouts were $170.53, up $2.74, said Canfax.
The AAA cutout is $29.75 higher than a year ago and AA is $34.52 higher, mostly because of the difference in the Canadian dollar.
The wholesale price for delivery this week was steady with Calgary at $163-$164 and Montreal at $164.
US Choice cutouts rose $7.22 US to $149.03. Select rose $5.92 to $141.34.
The Choice cutout has increased $9.01 from the same time a year ago and the Select is $12.71 higher.
Feeders lower
Alberta auction market volume rose one percent from the week before to 94,827 head. That was 42 percent more than the year before, said Canfax.
Light steer calves traded 75 cents-$2.54 per cwt. lower, while steers 500-600 pounds were 73 cents higher.
Steers 600-800 lb. were 22 cents-$1.96 lower and heavier steers traded $1.31-$1.96 lower.
Heifers 300-400 lb. were 63 cents higher, and heavy heifers were $2.10-$2.88 lower.
Overall, steers averaged $1.11 lower and heifers were $1.16 lower.
Exports of feeders to the U.S. totalled 10,095 head. That compares to 15,171 head last year.
Auction volume will likely be strong for the next two weeks. Feeder prices look to be under some pressure, with heifers being discounted more heavily than steers. Yearling cattle are expected to trade lower this week, said Canfax.
Pork, hogs fall
U.S. hog prices fell sharply as pork supplies increased, pork prices fell and exports slowed.
Iowa-southern Minnesota cash hogs Nov. 7 fell to $38.50 US per cwt., down from $42-$42.50 Oct. 31.
The U.S. pork carcass cut-out value plunged to $56.27 Nov. 7, down from $62.17 Oct. 31.
U.S. federal slaughter to Nov. 8 was estimated at 2.31 million, down from 2.39 million the week before and 2.36 million the year before.
Bison mostly steady
The Canadian Bison Association said A1 bull prices at the top of the scale dropped five cents, while heifers topped out five cents higher. Averages remained steady despite fluctuations of the Canadian dollar.
Grade A carcasses from youthful bulls in the desirable weight range in Canada were mostly $2.30-$2.75, with an estimated average of $2.50 per lb. hot hanging weight. Heifers were $2.25-$2.65 per lb. with an average of $2.40.
Cull cow and bull averages rose to $1.05 per lb., with sales to $1.40.
Weight, quality and delivery location affect final price.
Lambs steady
Beaver Hill Auction in Tofield, Alta., reported 828 sheep and lambs and 334 goats traded Nov. 3.
Lambs and sheep were steady. Light goats were down $40 per cwt. Heavier goats were steady. Good bred ewes were stronger.
Lambs lighter than 70 lb. were $70-$120 per cwt. Lambs 70-85 lb. were $70-$121, 86-105 lb. were $80-$117.50 and those heavier than 105 lb. were $100-$108.
Rams were $25-$43 per cwt. Ewes were $15-$39 per cwt.
Good kid goats were $120-$147. Nannies were $55-$72 per cwt. and mature billies were $90-$130.
Ontario Stockyards reported 1,957 sheep and lambs and 63 goats traded Nov. 3. Lighter, well finished lambs were stronger. Heavy lambs were steady. Goats were firm. Good sheep were $5 per cwt. higher; thinner types were under pressure.
