Canfax Weekly Article | Report for the week of April 26, 2021

Canfax fed cattle prices closed last week around $155/cwt, $2.50/cwt higher than the previous week, the highest prices since late March 2020. Most of the cattle that were marketed were yearlings, but a few fed calves were in the mix.  Last week dressed sales were reported from $257.00-260.50/cwt FOB the lot. Alberta fed cash to futures basis strengthened going from +$0.18 to +$6.37/cwt. Competition on the cash market was supported by three Western Canadian packers buying cattle last week.

Last week the Canfax average feeder steer price closed the week $0.50/cwt higher while heifer prices were steady. Both 650 lb steer and heifer prices established new annual highs. Feeders weighing over 900 lbs traded steady to $3/cwt lower. Western Canadian calf and feeder indices closed the week at $226.43/cwt and $193.09/cwt respectively. Alberta weekly auction volumes totaled just over 25,000 head. Canadian feeder cattle exports to the US for the week ending April 10^th totaled 2,191 head.

Last week Alberta D2 cow prices traded $1.50/cwt higher and live trade reported from $85-103/cwt. D3 cows averaged $82.50/cwt. Butcher bulls traded $3.25/cwt higher to average $114.50/cwt and live trade was reported from $100-133/cwt. Canadian butcher bull exports to the US for the week ending April 10^th totaled 677 head.

Bull.

• Last week Alberta fed prices moved back to a premium against the US market
• US 90% and 50% trim prices continue to strengthen
• Total US beef and pork in cold storage at the end of March is below last year

Bear.

• April 1^st cattle on feed inventories in Colorado and Nebraska are 10% and 8% larger respectively versus last year
• US fed cattle slaughter has been below last year in four out of the past five weeks
• According to USDA, US packers have more May contract cattle compared to last year 

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