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AB Direct - Steers

Live: ---
Rail: 403.00-405.00 del

AB Direct - Heifers

Live: ---
Rail: 403.00-405.00 del

US Trade- Steers

Live: 190.00 (KN)
Rail: 296.00 (NE,)

US Trade - Heifers

Live: 190.00 (KN)
Rail: 296.00 (NE, IA)

Canadian Dollar

$71.96
0.03
August 5, 2024 Checking in with ABP

Canfax Weekly Article | Report for the week of August 5, 2024

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.

Bull

  • U.S. pork cutout values established new annual highs last week
  • Western Canadian cow slaughter continues to run below last year
  • The softer Canadian dollar should be supportive to the cattle market

Bear

  • Over the past 7 trading sessions, the October and December live cattle contracts have dropped 4 per cent or 700 points
  • Based on the five-year average, Alberta fed basis levels historically weakens from July to August
  • Chinese beef prices have been under pressure and this has softened import demand

About the Author

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. Those interested in becoming Canfax members can sign up on the website at www.canfax.ca.

Author

Cattle Report

Updated: 01/11/2024

Steers

Live: ---
Rail: 403.00-405.00 del

Heifers

Live: ---
Rail: 403.00-405.00 del

Choice Steers

Live: 190.00 (KN)
Rail: 296.00 (NE,)

Choice Heifers

Live: 190.00 (KN)
Rail: 296.00 (NE, IA)

Boner Cows

Over 500 lbs: 237.03

Canadian Dollar

$71.96   0.03

Livestock Price Insurance Index

Expiry Fed Feeder Calf
27-Jan-25 238 324 --
24-Feb-25 236 320 --
24-Mar-25 236 320 --
21-Apr-25 242 322 --
19-May-25 246 324 --
16-Jun-25 250 324 --
14-Jun-25 238 -- --
Last Updated on November 1, 2024

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