Fed market up slightly
Fed steer prices were $93.25-$96 per hundredweight live, for an average of $95.08, up 15 cents from the week before.
Rail grade was $158.75-$161.85, Canfax said.
Heifers were $91.35-$95.45 per cwt. to average $94.51, up 21 cents. Rail grade was $158.75-$161.85.
Canfax said there was a tug of war between packers and feeders. Feeders have maintained tight control of market-ready supply and are able to keep animals off the market, giving them the upper hand. Volume traded totalled about 17,000 head.
The cash-to-futures basis strengthened to $8.50 under compared to $9.89 under due to a stronger cash price and slightly weaker live cattle futures.
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The supply of market ready animals is tightening and there will be pressure on packers to raise bids.
D1, 2 slaughter cows averaged $50.30, up $1 from the week before, said Canfax.
Supply should be tight until calving slows at the end of April. Butcher bulls averaged $63.61, an increase of $1.10 from the week before.
With summer barbecue season fast approaching, demand should be steady and prices are expected to rise after Easter.
Beef stronger
Calgary wholesale beef prices for delivery this week were steady at $170. Montreal rose $4 to $178.
Retailers have lots of inventory, Canfax said.
Byproducts were steady at $60-$95.
In the United States, Choice rose $1.19 to $134.32 US and Select was up $1.31 to $134.63.
Ron Plain and Glenn Grimes of the University of Missouri said beef demand in the three months ending in February was surprisingly better than the year before.
Grass cattle wanted
Hot demand for feeders to put on grass pushed steer and heifer prices up, Canfax said.
Steers 300-400 pounds rose $1.03 Cdn per cwt. and heifers in the same range were $2.44 higher.
Steers 400-600 lb. traded $1.88-$2.54 higher and heifers in the same range were $1.88-$2.54 higher.
Steers 600-700 lb. traded $1.65 higher and heifers were $2.34 higher.
Steers 700-800 lb. were steady. Heifers 700-800 lb.were $2.34 higher.
Steers 800-900 lb. were steady and heifers were up about $2.
Steers 900 lb. and heavier were up 62 cents and heifers rose $1.14.
Feeder sales volume fell 11 percent to 43,834 head.
Overall, steers averaged $1.06 higher and heifers were $2.21 higher.
Strong demand is expected to continue into April. Auction volumes will drop. Canfax said prices on feeders heavier than 800 lb. could weaken.
Bred cows were steady with the previous week. As the cow-calf supply increases, discounts for poor individuals will increase if the pair splits.
Bred cows were $600-$1,060, Bred heifers were $650-$1,040 and cow-calf pairs were $1,000-$1,125.
Hog prices edge higher
Beginning this week, some American packing plants, including Smithfield, will not accept Canadian born hogs because of country-of-origin labelling.
USDA reported the March 1 hog herd at 97 percent of a year ago, the breeding herd at 97 percent and the market hog supply at 97 percent. Those numbers matched or were close to average trade estimates.
Several U.S. packing plants were closed March 27 because of a snowstorm.
Iowa-southern Minnesota cash hogs edged back to $42 Cdn March 27 from $41 on March 20.
The U.S. pork carcass cut-out value fell to $57.54 March 27, down from $58.73 March 20.
U.S. federal slaughter to March 28 was estimated at 2.21 million, up from 2.16 million the week before, but 2.2 percent down from the year before.
Bison prices steady
The Canadian Bison Association said prices were steady. Cull cow supply has slowed as calving season approaches.
Grade A carcasses from youthful bulls in the desirable weight range in Canada were $2.40-$2.70 Cdn hot hanging weight. Heifers were $2.30-$2.55 per lb.
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
To the end of February, Canadian bison slaughter was up one percent to 3,750 head. Bison exports to the U.S. were down 32 percent to 4,073.
Lambs steady
Ontario Stockyards reported 2,033 sheep and lambs and 316 goats traded March 23. Sheep, lambs and goats sold steady. Heavy lambs fetched premiums.
Beaver Hill Auction in Tofield, Alta., reported 428 sheep and lambs and 79 goats traded March 23. Sheep were higher and goats were steady.
Lambs lighter than 70 lb. were $148-$176 per cwt. Lambs 75 to 85 lb. were $153-$164, 86 to 105 lb. were $142-$160, and those heavier than 105 lb. were $142-$159.
Rams were $51-$79 per cwt. Ewes were $45-$62.
Good kid goats were $165-$200. Nannies were $53-$77 per cwt. and mature billies were $102.50-$147.50.
