The Canfax average steer and heifer prices closed the week at $119.00/cwt and $117.00/cwt respectively, steady to $1.00 lower than the previous week. Last week dressed trade was reported from $198.00-200.00/cwt delivered. Showlist volumes were cleaned up and accumulated sale volumes totaled 13,600 head. Alberta fed cash to futures basis levels did strengthen and generally remain in line with the five year average. Canadian fed exports for the holiday shortened week of July 6th totaled 2,519 head.
Feeder prices seasonally continue to gain momentum on improved feeding margins and tighter supply. The Canfax average steer and heifer price strengthened $2.00-2.50 last week. 400-600lb steers and heifers traded $1.00-3.00/cwt higher than the previous week while 900+ feeders strengthened $2.00 on good demand. Alberta auction volumes totaled 10,100 head up from last week and the same time last year. Canadian feeder exports to the US for the week ending July 6th totaled 610 head.
D1, D2 cows traded $0.15 lower and live trade was reported from $73.00-85.00/cwt. Last week D3 cows averaged $72.75/cwt. Rail bids continue to hold firm. Butcher bulls strengthened $1.25 to average $89.50/cwt and live trade was reported from $80.00-99.00/cwt. Canadian non-fed exports to the US for the week ending July 6th totaled 4,711 head.
- The Alberta/Nebraska cash to cash basis remains stronger than the 5 year (08-12) historical average
- Cash supplies have been cleaned up for the past two weeks
- Barley prices have come under pressure
- Hot weather in Eastern Canada/US has impacted beef demand
- Packers continue to fill hooks with ample non-fed supplies
- Seasonally, fed market ready supplies should increase
For more detailed information on markets this week please visit the Canfax website www.canfax.ca.