Canada cattle report: Canfax steer, heifer prices move higher

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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.

Bull factors

  • Seasonal beef demand has improved

  • Feedlot supplies are manageable moving forward

  • The Alberta cash to futures basis narrowed to seasonal levels

Bear factors

  • 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.



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