For the second consecutive week there has not been enough cash trade to establish a market trend. Market ready supplies remain current and selling pressure has been minimal. Last week dressed bids ranged anywhere from $192.00-196.00/cwt delivered. The majority of last week’s cash offering will be rolled into next week’s showlist. Light volumes of Alberta and Saskatchewan fed cattle continue to be vented to Guelph, Ontario and this trend will likely continue until the High River plant is processing at full capacity. Canadian fed exports to the US for the week ending June 22nd totaled 5,590 head.
Feeder cattle prices firmed higher last week as auction volumes seasonally dwindle. The Canfax average steer price was $1.50 higher while heifers strengthened $1.00. 400-800 lb steers saw prices firm $1.50-2.00/cwt higher while light weight stocker heifers trended fully steady. 850lb basis levels still remain weaker than the five year (08-12) historical average. Alberta auction volumes totaled 5,400. Canadian feeder exports to the US for the week ending June 22nd totaled 2,475 head.
D1, D2 cows traded fully steady and live trade was reported from $70.00-81.00/cwt. Last week D3 cows averaged $67.00/cwt. Rail bids were reported fully steady. Butcher bulls trended sideways last week, to average 86.00/cwt, live trade was reported from $78.00-98.00/cwt. Canadian non-fed exports to the US for the week ending June 22nd totaled 6,068 head.
- In the US beef complex, with the exception of loins, all other primals traded higher last week
- Spot barley prices have eased over the past couple of weeks
- Eastern Canadian fed prices remain strong
- After recent rains, pen conditions remain less than desirable
- Locally, restricted slaughter and slow cash marketings have added static to the fed pipeline
- Beef demand heading into summer is typically sluggish