The Western Canadian fed market was a little disappointing given dressed sales in Eastern Canada were $10–20/cwt stronger last week. Last week, the Canfax average fed steer and heifer price closed around $294/cwt live, fully steady with the previous week. Light trade was reported with dressed sales ranging from $492.00–493.50/cwt FOB the feedlot. Competition on the cash market was limited, with one packer not bidding on cattle. Cattle that traded were scheduled anywhere from immediate to mid-January delivery, depending on the packer. Last week’s Alberta fed cash-to-futures basis was reported at -$19.83/cwt, weaker than the five-year average.
The Canfax steer and heifer prices closed the week steady to $2/cwt lower. The largest week-over-week price decline was on lightweight calves, with prices $9–10/cwt softer. Last week, feeders weighing over 800 pounds traded $1–4/cwt stronger. From their lows in late November, Alberta 550-pound steers have rallied $15/cwt, while same-weight heifers have increased $2/cwt. In December, bred cattle volumes have increased and demand continues to be strong. Last week, bred heifers averaged $5,575/head, $1,000/head higher than last year. Alberta auction volumes totaled just over 22,000 head, 6,000 head smaller than last year. Canadian feeder cattle exports for the week ending December 6 totaled 2,421 head.
Cooler temperatures across parts of the Prairies resulted in lighter non-fed numbers. Last week, Alberta D2 cows traded $1.50/cwt higher, averaging $218/cwt with a range from $190–252/cwt. D3 cows averaged $195/cwt. Butcher bulls traded $2.50/cwt lower, averaging $224.50/cwt, with a range from $190–254/cwt. Canadian butcher bull exports for the week ending December 6 totaled 524 head, the smallest volume since early July.
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