Canada cattle report: Canadaian showlists higher on carry over

Technical price levels improved last week as the Canadian dollar retracted and cattle futures rebounded. Active trade was reported by Thursday afternoon, with the Canfax average steer and heifer prices closing the week above $110.00/cwt and $111.00/cwt respectively. Last week the majority of dressed sales were reported at $188.00/cwt delivered. Over the past couple of weeks Alberta/Saskatchewan showlist volumes have been inflated by large carry over volumes. Strong price levels improved selling interest, and accumulated sales volumes totaled 25,700 last week. Canadian fed exports to the US for the week ending April 28th totaled 9,292.

The feeder market continues to show signs of exhaustion as concerning break evens have stalled feeder prices. The Canfax average steer price was $0.28/cwt lower while heifers strengthened $0.41/cwt. 900+ steers and heifers are now at the lowest price level of this year. The Western Canadian calf index closed the week at $158.80/cwt, down $3.26 from the previous week. Large volumes of heifers have been reported selling through commercial auction facilities. Alberta auction volumes totaled 19,900. Canadian feeder exports to the US for the week ending April 28th totaled 3,699.

A moderate flush of calving culls were reported through auction last week. D1, D2 cows traded from $73.00-85.00/cwt, while D3 cows averaged $70.07/cwt, up $1.00 from the previous week. Butcher bulls traded fully steady with the previous week ranging from $80.00-104.00/cwt. Canadian non-fed exports to the US for the week ending April 28th totaled 3,450.

Bull factors

• Next week showlist volumes should be relatively current

• Alberta/Saskatchewan May 1 cattle on feed inventories are 7% lower than the same time last year

• The North American non-fed market remains strong

Bear factors

• Larger fed supplies in the Northern US could slow export demand

• North American beef exports remain sluggish

• Canadian carcass weights remain heavier than the same time last year

For more detailed information on markets this week please visit the Canfax website www.canfax.ca.

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