Alberta Cattle Industry Market Report
Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 142.25 and 143.00 respectively. Closing just over 4.50 lower weighted average steer prices established new lows last week.
US Trade
In the US, trade developed over Wednesday and Thursday. Dressed sales in the North were steady to 2.00 lower than the previous week while southern regions traded steady to 1.00 lower on a live basis. USDA released its August 1st cattle on feed report on Friday and should be interpreted as neutral to slightly bearish as placement volumes and on feed numbers came in above pre report estimates. On feed inventories as of August 1st are 1.6% larger than last year and also marks the sixth consecutive month on feed inventories have been above year ago levels.
Canadian Dollar
The nearby Canadian dollar at 8:30 this morning was trading at 77.39, down 0.37.
Source : Alberta Beef Producers