Fed prices rise
Fed steer trade was $90.50-$93 per hundredweight to average $92.29, up $2.50 from the week before. Flat rail was $156-$156.85.
Fed heifers traded $90.50-$92.80 to average $91.96, up $2.40. Flat rail was $154-$156.85, Canfax said.
Price support came from feedlots staying current, minimal weight issues, packers short on inventory and a weaker Canadian dollar.
Alberta slaughter levels are supportive with steer slaughter up 22 percent from last year and heifer slaughter up 13 percent.
The show list was cleaned up with about 21,000 head sold, up 57 percent head from the week before.
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The cash to cash basis rose to $10.68 under compared to $15.17 under the week before, reflecting stronger domestic demand.
Fed cattle exports to the United States totalled 13,420 head two weeks ago, down from 14,099 head the previous week and down from 17,795 head last year, Canfax said.
D1, 2 slaughter cow prices dropped $1.32 per cwt. to average $48.77. D3 cows traded $3.11 lower than the previous week. Butcher bulls saw prices 15 cents lower.
Quality D1, 2 cows and butcher bulls should continue to be in demand and prices will remain strong and steady, Canfax said.
Beef strengthens
U.S. beef cut-out values rose with Choice up 55 cents to $136.02 US and Select up $1.11 to $135.23.
Beef trim was steady with light to moderate demand and offerings.
Canadian AAA cutouts the week of Feb. 27 were down $2.02 Cdn from the week before. Compared to last year they were up $15.47, or 10 percent higher.
AA cutouts were $2.42 lower than the previous week. Compared to last year they are up $16.28, or 11 percent.
Calgary wholesale beef for delivery this week rose $2 to $166. The Montreal price jumped $4 to $172.
Retail margins were higher than average, and summer barbecue interest should see prices start to trend higher, Canfax said.
Feeders edge higher
Feeder cattle traded mostly steady to 25 cents lower than the previous week. Steers 300-500 pounds rose 26-47 cents per cwt, Canfax said.
Steers 500-600 lb. dropped $1.53 while 600-700 lb. were down 22 cents and 700-900 lb. rose 41-49 cents. Those 900 lb. and heavier rose 23 cents.
Heifers 300-500 lb. slid $1.33-$2.24 while 500-600 lb. were 32 cents lower.
Heifers 600-900 lb. rose 31-47 cents and 900 lb. and heavier were down 50 cents.
Generally, 600-900 lb. feeders saw firm prices due to lower breakevens.
Volume rose six percent to 44,606 head.
Feeder exports to the United States two weeks ago totalled 12,088 head, up 40 percent from the previous week, and 31 percent lower than last year.
Canfax said the cost of gain has dropped substantially because of cheaper barley. At current feeder prices, there should be considerable profit margins for all weights of feeders.
Prices normally trend higher toward summer and with the better break-evens on 600-900 lb. cattle, prices could see a slight improvement, Canfax said.
However, the 400-600 lb. grass types seem to have reached a plateau and should remain relatively steady.
Bred cows were $710-$1,050 to average $899 per head, up $47 from the week before. Bred heifers were $850-$1,090. Cow-calf pairs were $975-$1,075 to average $1,025. It is good to see the $126 premium for calving, Canfax said.
Prices should hold steady this week, but a run of good young cows or heifers will push the average higher.
On-feed report
The Saskatchewan-Alberta cattle-on-feed report found 956,756 head on feed as of March 1. That was an increase of seven percent from last year.
Placements in February totalled 179,038, down two percent from last year. Marketings in February were 152,898, down three percent and other disappearance totalled 20,063, down 35 percent.
Heifers represent 36 percent of the placements while steers represent 64 percent. This could point to heifer retention and a start to herd rebuilding, Canfax said.
Hog prices edge lower
U.S. cash hog prices retained most of the previous week’s gains and pork prices rose, but not enough to give packers positive margins. Packers might scale back slaughter this week.
China, a key destination for North American pork exports, expects to increase pork production by four percent this year.
Iowa-southern Minnesota cash hogs dipped to $45-$45.50 US March 13, down from $46.50 March 6.
The U.S. pork carcass cut-out value climbed to $59.55 March 13, up from $55.26 by March 6.
U.S. federal slaughter to March 14 was estimated at 2.16 million, down from 2.22 million the week before, and five percent down from the year before.
To date, U.S. hog slaughter is down 5.3 percent.
Bison prices dip
The Canadian Bison Association said the top end of the heifer price range fell five cents.
Grade A carcasses from youthful bulls in the desirable weight range in Canada were $2.40-$2.70 Cdn, with an estimated average of $2.40 per lb. hot hanging weight. Heifers were $2.30-$2.55 per lb. with an average of $2.30.
Cull cow and bull average rose to $1.15 per lb., with sales to $1.45.
Weight, quality, age and delivery location affect final price.
Lambs steady
Ontario Stockyards reported 1,772 sheep and lambs and 158 goats traded March 9. Sheep, lambs and goats sold steady.
Beaver Hill Auction in Tofield, Alta., reported 180 sheep and lambs and 43 goats traded March 11. Bitter cold kept most producers home.
Lambs lighter than 70 lb. were $140-$156 per cwt. Lambs 75 to 85 lb. were $139-$150, 86 to 105 lb. were $134-$148.50, and those heavier than 105 lb. were $134-$144. Rams were $41-$60 per cwt. Ewes were $45-$56.
Good kid goats were $150-$197. Nannies were $55-$75 per cwt. and mature billies were $80-$97.
