Canada cattle report: Light trade reported this week

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Light trade was reported last week with weighted average steer prices fully steady with the previous week while heifer prices strengthened $1.50/cwt. Dressed sales were exclusively at $202.00/cwt delivered. No significant buyer interest was observed out of the US last week. Sale volumes last week were 7% smaller than the previous week. Last week’s cash to futures basis weakened to close at –8.53. Canadian fed cattle exports to the US for the week ending December 8th totaled 6,129 head.

Auction volumes continue to seasonally decline as the bulk of auction traffic last week was non-fed and bred cattle. The Canfax average feeder steer price strengthened $0.17 last week while feeder heifer prices softened $0.09. The Western Canadian feeder index closed the week at $139.05/cwt, up $2.53. Reported auction volumes last week totaled 28,400. Canadian feeder exports to the US for the week ending December 8th totaled 1,195 head.

Butcher cows last week traded mixed on good local and US demand. Rail bids closed $1.00/cwt higher, ranging from $131.00-136.00/cwt delivered. Butcher bull prices trended sideways with live trade reported from $65.00-86.00/cwt. Canadian non-fed exports to the US for the week ending December 8th totaled 10,435 head.

Bull factors

  • Local feedlots supplies are current

  • End primals are cutout supportive ar

  • The Canadian dollar has eased somewhat

Bear factors

  • Packers have ample captive supplies for January

  • Post-holiday consumers wallets are empty

  • Drought placed against fed supplies will be large during the 1st quarter of 2012

For more detailed information on markets this week please visit the Canfax website

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