Magnifying Glass

AB Direct - Steers

Live: ---
Rail: ---

AB Direct - Heifers

Live: ---
Rail: ---

US Trade- Steers

Live: ---
Rail: ---

US Trade - Heifers

Live: ---
Rail: ---

Canadian Dollar

$73.24
0.12
April 22, 2024 Current Markets & Forecasts

Canfax Weekly Article | Report for the week of April 22, 2024

In Alberta last week, fed steers and heifers set new record highs at $256.40/cwt and $254.40/cwt respectively. Fed steer and heifer prices have rallied $32 – 38/cwt since the beginning of the year compared to a rally of $37 – 40/cwt for the same period last year.

Dressed sales last week were $425-432/cwt delivered with pick up times for cattle traded one to two weeks out. Interest from packers started with a solid tone and strengthened throughout the week. The Alberta cash-to-futures basis was at a premium for two consecutive weeks for the first time this year at $7.33/cwt.

Last week, Alberta auction volumes were over 26,000 head, 5 per cent lower than the same week last year, but up 19 per cent compared to the five-year average. Alberta grass type steers traded steady to $4/cwt weaker, while heavyweight steers traded steady to $5/cwt stronger.

Alberta heifer prices were steady to $15/cwt softer; with only 5-700 pounds trading stronger at $3-7/cwt. For the week ending April 6th, feeder cattle exports to the US were 3,218 head, up 22 per cent from last year. Year-to-date exports at 36,939 head, are up 9 per cent from a year ago.

Last week, Alberta D2 cows traded $5/cwt higher averaging $180/cwt, setting a record high. D3 cows traded steady averaging $162/cwt, they remain near record high levels. Similarly, butcher bulls traded steady averaging $191/cwt.

Year-to-date Western Canadian cow slaughter is 5 per cent lower than last year, but 7 per cent larger than 2022 and 10 per cent larger than 2021.

Bull

  • Fed steers and heifers are trading at all time high prices
  • Alberta cash-to-future basis has been at a premium for two consecutive weeks for the first time this year
  • Butcher cow market remain record high prices

Bear

  • U.S. carcass weights remain record large despite recent drop
  • Lightweight feeder heifer prices have counter seasonally softened
  • U.S. beef production for 2024 has recently been revised higher

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

Latest News

Cattle Report

Updated: 09/10/2024

Steers

Live: ---
Rail: ---

Heifers

Live: ---
Rail: ---

Choice Steers

Live: ---
Rail: ---

Choice Heifers

Live: ---
Rail: ---

Boner Cows

Over 500 lbs: 240.44

Canadian Dollar

$73.24   0.12

Livestock Price Insurance Index

Expiry Fed Feeder Calf
30-Dec-24 -- -- --
27-Jan-25 234 312 --
24-Feb-25 230 310 --
24-Mar-25 230 308 --
21-Apr-25 236 312 --
19-May-25 240 312 --
16-Jun-25 244 316 --
Last Updated on October 3, 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.