Light to moderate trade developed last week with weighted average prices $0.75-1.25/cwt lower than the previous week. The bulk of the dressed trade was at $195.00/cwt delivered. Alberta fed cash to futures basis closed last week at -11.33. Last week’s small cash offering was cleaned up with accumulated sale volumes of 12,393. Canadian fed exports to the US for the week ending January 5th were up 33% from the same week last year.
Feeder prices eased slightly lower last week with 550 lb steers trading $0.50/cwt lower and heavier steers over 800 lbs generally $1.50/cwt lower. Feeder heifer prices were mostly steady to $1.00/cwt lower. Auction volumes remained seasonally moderate again last week at 18,307 head. YTD auction volumes of 29,097 head are 1% smaller than the same week last year. Canadian feeder exports to the US for the week ending January 5th were 58% lower than same week last year. Last week’s calf index softened $2.06 and the feeder index followed suit slipping $2.29.
D1,2 slaughter cow prices firmed over $1.50/cwt higher this week and D3 cows traded $0.50/cwt higher, dressed prices ranging from around $136.00-141.00/cwt. Butcher bulls traded fully steady to average $76.80/cwt. Western Canadian non-fed slaughter for the week ending January 12th was at 9,279 head and YTD was up 41% at 11,909 head. Canadian non-fed exports to the US for the week ending January 5th YTD were 35% higher than the same week last year.
The fed basis tightened $2 to align with the five-year seasonal average
Collapsed cattle futures are expected to rebound somewhat this week
Combined Canadian carcass weights for the week ending Jan 12 were 11 lbs lower than the same week last year
Post-holiday demand remains lackluster and cutouts last week trended sharply lower
Western Canada December fed marketings were down 25% compared to 2012
The strong Canadian dollar continues to dampen American buyer interest in local fed cattle
For more detailed information on markets this week please visit the Canfax website www.canfax.ca.