In Alberta last week, weighted average fed steer and heifer prices closed the week around $257/cwt live, fully steady with the previous week. Fed prices have been steady for the past six weeks averaging in the mid to upper $250’s/cwt. Last week, buying interest was noted from all three Western Canadian packers and dressed sales were reported from $425.00-428.50/cwt FOB the feedlot. Cattle that traded were being scheduled anywhere from the second half of August to the second half of September delivery. From the lows in late May, Western Canadian steer carcass weight have increased 33 pounds and are 12 pounds above last year.
Last week, the Canfax average feeder steer price was $2.50/cwt higher, while heifer prices strengthened $5.75/cwt. Last week, there was a good mix of backgrounded and grass cattle trading through commercial auction facilities and via electronics. Grass cattle are trading at a $10+/cwt premium over similar weight backgrounded cattle. Feeders over 800 pounds traded $4-6/cwt higher last week, establishing new record highs. Last week, Alberta 850 pound steer cash-to-futures basis was reported at -$2.30/cwt. For the end of July, this is the strongest basis since 2019. Alberta auction volumes totaled 20,000 head, 11,000 head smaller than last year. Canadian feeder cattle exports to the U.S. for the week ending July 20th totaled 2,031 head.
Alberta D2 cows traded $1/cwt higher and live trade was reported from $180-206/cwt. D3 cows averaged $182.50/cwt. Cow prices continue to hover at or near record high levels. Butcher bulls traded fully steady averaging $212.25/cwt, with a trading range from $190-230/cwt. Canadian butcher bull exports to the U.S. for the week ending July 20th totaled 662 head.
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