Fed cattle rise
There was no Canfax report for the week between Christmas and Jan. 1.
In the week ending Dec. 23, Canfax said the fed cattle weekly average was $1.65-$2.20 per hundredweight higher.
The strong bids drew more cattle to town with nearly 20,000 head trading, up four percent from the week before, Canfax said.
Long fed heifers fetched the best prices with tops cracking $100 per cwt. for the first time since May 2003. Shorter fed cattle tended to be $2-$4 lower than the highs but still stronger than the week before.
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Alberta prices Dec. 23 were steers $95-$96.50 per cwt., flat rail $161.20-$162 and heifers $96-$98, flat rail $163.
With plant closures for the holidays and slower deliveries, prices were expected to be steady at the end of December, Canfax said.
Beef volatile
U.S. cutouts bounced up and down in the last two weeks of December, but were down by the close. However, prices were 11-13 percent higher than the year before.
Calgary wholesale prices for steers for delivery the last week of 2005 and the first week of January, in limited volume, were $2-$4 higher at $162-$164 per cwt.
Feeders lower
Feeder cattle prices weakened slightly before Christmas, but smaller volumes in most weight classes and mixed quality were the main causes, said Canfax. Top quality feeders brought mostly steady prices. The top end of the price ranges held firm.
The classes heavier than 700 pounds were $1-$2 per cwt. lower on average, while lighter feeders were $2-$4 lower.
The week’s volume of about 49,000 head was down 13 percent from the week before, but well above the same week a year ago. Demand remained good.
D1, 2 cow prices dropped by 50 cents-$1, weakened by the large number drawn to market by the previous week’s higher price. Butcher bulls were steady.
Prices typically ease in the first quarter of the new year for feeders, Canfax said.
Weekly exports continue to be strong for feeders and this pace should pick up in February and March.
A good volume of stock cows and heifers traded in the week before Christmas. Cow prices were $500-$1,425 with most of the trade at $700-$1,200. Bred heifers were $650-$1,425 with most at $800-$1,250. A few cow-calf pairs sold at $700-$1,190.
Hog prices weaken
Reduced slaughter because of the holiday period contributed to slightly weaker hog prices in the United States, although packers’ profit margins remained good, keeping a floor under the market.
About 1.81 million head were federally slaughtered in the U.S. in the last week of 2005, down from 2.05 million the week before, but up from the 1.78 million processed in the same week last year.
The Iowa-southern Minnesota live cash price for hogs delivered to plants slipped to $43 US on Dec. 30, down from $43.50 Dec. 23 and $44-$44.50 reported Dec. 16.
The U.S. Department of Agriculture composite pork carcass cut-out value was $64.08 per cwt. on Dec. 30, $64.47 on Dec. 23 and $65.06 on Dec. 16.
Quarterly pig report
The quarterly USDA Hogs and Pigs Report released Dec. 29 showed the number of hogs on U.S. farms as of Dec. 1 at 100 percent of last year, close to the average trade estimate of 100.7 percent.
Hogs kept for breeding were at 101 percent of last year and hogs kept for market were 100 percent. The average trade estimate for hogs kept for breeding was 100.9 percent and for hogs kept for market 100.6 percent.
Although hog numbers were up slightly, the rise was less than some anticipated. Farrowing intentions were lighter than projected, they said.
Heavy lambs stronger
Ontario Stockyards Inc. reported that for the week ending Dec. 30, 734 sheep and lambs and seven goats traded. Light new-crop lambs sold at lower prices, while heavy lambs and sheep traded $5-$10 cwt. higher. Goats were steady.
