Alberta weighted average steer prices tested record highs last week. The Canfax weekly average steer price jumped $1.35 higher last week and heifers averaged $1.10 higher. The bulk of dressed trade was reported at $200.00/cwt delivered. Reported sale volumes last week of 12,567 head were 36% larger than the previous week. The Alberta cash to futures basis strengthened to a seasonal -3.94. Western Canadian fed slaughter for the week ending April 27th was 1% larger than the previous week. Canadian fed cattle exports to the US for the week ending April 20th were at 12,594 head.
The weekly average Canfax feeder steer price firmed $1.00 higher and average heifer prices trended $2.25 higher. The Western Canadian calf index trended higher to $146.24/cwt while the feeder index was moderately higher. Alberta auction volumes totaled 30,651. Canadian feeder exports to the US for the week ending April 20th were 7% larger than the previous week.
D1, D2 cows traded moderately lower than the previous week and D3 cows slipped $1.00 lower. Dressed sales last week were reported around $149.00-154.00 delivered. Slaughter bulls averaged $88.05/cwt, down slightly. Canadian non-fed exports to the US for the week ending April 13th totaled 7,323 head.
Seasonal beef demand has improved
Feedlot supplies are manageable moving forward
The Alberta cash to futures basis narrowed to seasonal levels
This week’s fed offering has significant formula cattle numberss
Cutouts appear to have plateaued
Futures are struggling to hold ground
For more detailed information on markets this week please visit the Canfax website www.canfax.ca.