SASKATOON (Staff) – Fed cattle prices rallied last week, led by higher futures prices in Chicago.
Canfax said prices opened the week on steady money but followed U.S. futures and cash prices higher. Improved beef demand and movement in the U.S. seems to have sparked the rally.
Cash slaughter cattle prices in the southern Plains feedlot states jumped by $3 per hundredweight to trade from $60-$63 (U.S.)
In Alberta, trade on March 14 had steers priced from $74.85-$77.25 per cwt., while heifers were mostly $74.25-$76.20. Local packers were active bidders against U.S. buyers for local cattle, Canfax said.
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Total volume sold for the week was 13,000-plus head, up 15 percent from the previous week.
Prices remained strong on slaughter cows. Good demand is helping support prices but supplies of good quality cows are also getting tighter, Canfax said. Cow kills have ranged from 11,000-13,000 head per week for most of the year, about eight percent higher than last year. D1 and D2 cows ranged in price from $40-$55 per cwt., while railgrade bids ranged from $82-$92.25.
Feeder cattle prices were steady, with some lighter cattle suitable for grass fetching better prices, Canfax reported. Volumes on offer were off marginally from the previous week, but up by about one-fifth compared to the same week last year.
Hogs prices mixed
There were few changes in hog prices last week.
In Saskatchewan, marketings were up by 1,000 to 20,976. The index 100 average pooled price was steady at $164.60 per hundred kilograms. The price for sows was up by 80 cents per ckg to $105.10.
Alberta’s prices were down $1.20 per ckg to $168 as marketings were up by 3,000 at 38,166.
Marketings in Manitoba were similarly stronger, with 4,000 more sold to bring the week’s total to 44,801 head. Prices were nominally stronger, at $166.25, up 19 cents per ckg.
