Last week, the Canfax average fed steer and heifer price closed around $331/cwt live, up slightly from the previous week. Fed prices did establish new highs last week. Buying interest was noted from all Western Canadian packers. Light trade was reported with dressed sales ranging from $548.50–$553.75/cwt FOB the feedlot. Lift times were all over the map depending on the packer. Most of the cattle that traded would be picked up in two weeks. There were some cattle booked for June delivery. U.S. packer interest was noted but no sales were confirmed. For the week ending April 18th, Western Canadian steer carcass weights averaged 963 pounds; for the middle of April, carcass weights are record large.
It was a mixed week for the calf and feeder market. The Canfax feeder steer price closed the week $1/cwt lower while heifers advanced $2/cwt. Last week the bright spot on the market was 5-weight steer calves; prices have rebounded and are back to within $7/cwt of their highs back in March. From an observational standpoint, the soft spot on the market was feeders weighing over 1,000 pounds; the market looked about $5/cwt softer compared to the previous week. Steers weighing from 950–975 pounds are bringing the same dollars per head and in some instances more, compared to steers weighing 1,050–1,100 pounds. Demand for replacement quality heifers has moderated compared to a month ago. Alberta auction volumes were just over 21,000 head, 2,000 head larger than last year.
Canadian feeder cattle exports to the U.S. for the week ending April 11th totaled 1,620 head.
Last week, Alberta D2 cows traded $4/cwt higher, averaging $245/cwt with a range from $208–$270/cwt. D3 cows averaged $222/cwt. Butcher cow prices are trading $22/cwt higher than last year. Butcher bulls traded $3.50/cwt higher, averaging $270/cwt, with a range from $225–$331/cwt. Canadian slaughter bull exports to the U.S. for the week ending April 11th totaled 360 head.
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