Canfax Weekly Article | Report for the week of April 19, 2021

Canfax fed cattle prices closed last week around $152.25/cwt, $2/cwt higher than the previous week. Since the second half of March fed prices have rallied $5-8/cwt. Last week dressed sales were reported from $254.50-255.75/cwt FOB the lot. Cattle that traded last week were being scheduled for the week of April 26^th and May 3^rd delivery. Last week on a cash to cash basis, Alberta fed prices were trading at an estimated $2.50/cwt discount against the US market.

Last week the Canfax average feeder steer price closed the week $5.50/cwt higher while heifer prices strengthened $2/cwt. Trading $1-3/cwt higher, steers weighing from 6-900 lbs established new annual price highs. Alberta heifer calves and light weight stocker prices are trading $9-16/cwt higher than last year. Western Canadian calf and feeder indices closed the week at $224.77/cwt and $195.19/cwt respectively. Alberta weekly auction volumes totaled just over 25,000 head. Canadian feeder cattle exports to the US for the week ending April 3^rd totaled 1,862 head.

Last week Alberta D2 cow prices traded $4.35/cwt higher and live trade reported from $85-101/cwt. Last week D3 cows averaged $81.75/cwt. Butcher bulls traded $3.25/cwt higher to average $111/cwt and live trade was reported from $95-129/cwt. Canadian butcher bull exports to the US for the week ending April 3^rd totaled 1,862 head.

Bull.

• Western Canadian lift dates have tightened going from 4-5 weeks out to now 2-3 weeks out
• Western Canadian cow prices established new annual price highs
• YTD (Jan-Feb) Canadian beef exports to US and Japan are up 7% and 14% respectively compared to last year

Bear.

• US Live cattle futures contracts have trended lower for seven consecutive days
• AB/SK April 1^st cattle on feed report should be viewed as bearish
• US steer carcass weights are 3 lbs heavier than last year and 19 lbs larger than the five-year average

For over 50 years, Canfax has provided expert analysis of markets and trends in the ever changing North American beef industry. In this new millennium, cattlemen, feedlot managers, and agri-business professionals will continue to rely on up-to-the-minute information as an essential tool for maximizing profit in today’s beef sector. Whether your operation needs to plan for three hours or three years into the future, Canfax delivers timely, accurate information for 21st Century cattle industry professionals.

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