Magnifying Glass

AB Direct - Steers

Live: ---
Rail: 403.00 FOB feedlot / 405.00 del

AB Direct - Heifers

Live: ---
Rail: 403.00 FOB feedlot/ 405.00 del

US Trade- Steers

Live: ---
Rail: ---

US Trade - Heifers

Live: ---
Rail: ---

Canadian Dollar

$73.83
0.11
April 15, 2024 Current Markets & Forecasts

Canfax Weekly Article | Report for the week of April 15, 2024

In Alberta last week, weighted average fed steer and heifer prices closed the week around $249.25/cwt live, $6/cwt higher than the previous week. Fed cattle prices established new record highs.

Competition on the Western Canadian market was good with packers actively making inquiries for cattle. Last week, a stronger price tone was noted from Wednesday to Thursday. Dressed sales were reported from $410.50-422/cwt FOB the feedlot. Cattle that traded were being scheduled anywhere from next week to the second half of May delivery. Alberta fed basis levels strengthened going from -$0.08/cwt to +$4.52/cwt last week.

Last week, the Canfax average feeder steer price was $7/cwt lower, while heifer prices eased $2/cwt. Alberta heifers weighing from 5-700 pounds traded $10-12/cwt lower than the previous week. Feeder steers weighing over 800 pounds were reported steady to $1/cwt lower. From their highs in mid-March, 750 pound steer price has decline $20/cwt. Over the same time frame, same weight heifer prices have dropped $7/cwt.

Alberta auction volumes totaled just over 35,000 head, 21,000 head larger than the same week last year. Canadian feeder cattle exports to the U.S. for the week ending March 30th totaled 3,363 head. Year-to-date feeder cattle exports to the U.S. are 8 per cent larger than last year.

Alberta D2 cows traded $3/cwt higher and live trade was reported from $160-189/cwt. D3 cows averaged $190.75/cwt. Alberta cow prices are trading at $16/cwt premium compared to the Ontario market. Last week, butcher bulls traded $11/cwt higher, averaging $190.75/cwt, with a trading range from $169-225/cwt. Canadian butcher bull exports to the U.S. for the week ending March 30th totaled 422 head.

Bull

  • April 1st Alberta Saskatchewan cattle on feed inventories are below last year, the five-year average
  • Last week’s Alberta fed cash-to-futures basis was the strongest since July 2023
  • Canadian Prime and AAA grading is record high

Bear

  • Over the past three weeks, live cattle futures contracts have decline $13/cwt
  • USDA revised its beef and pork production estimates upwards for 2024
  • U.S. 50 per cent trim prices are 26 below last year and 12 per cent lower than 2022

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

You might also be interested in

Cattle Report

Updated: 04/10/2024

Steers

Live: ---
Rail: 403.00 FOB feedlot / 405.00 del

Heifers

Live: ---
Rail: 403.00 FOB feedlot/ 405.00 del

Choice Steers

Live: ---
Rail: ---

Choice Heifers

Live: ---
Rail: ---

Boner Cows

Over 500 lbs: 238.71

Canadian Dollar

$73.83   0.11

Livestock Price Insurance Index

Expiry Fed Feeder Calf
23-Dec-24 228 304 --
20-Jan-25 228 306 --
17-Feb-25 228 306 --
17-Mar-25 226 304 --
14-Apr-25 232 306 --
12-May-25 234 308 --
9-Jun-25 242 314 --
Last Updated on September 27, 2024

Add abpdaily.com to your home screen

Tap the menu button next to the address bar or at the bottom of your browser.

Select ‘Install’ or ‘Add to Homescreen’ to stay connected.