Canfax Weekly Article | Report for the week of Aug 9, 2021

Canfax fed steer and heifer prices closed the week around $150/cwt, mostly steady with the previous week. Last week dressed sales were reported from $250.50-251.75 FOB lot. Cattle that traded last week were being booked for late August/early September delivery. On a cash-to-cash basis Alberta fed prices are trading at roughly $5.75/cwt discount against the Nebraska market, the weakest basis since December. US buying interest on the western Canadian fed market was non-existent.

Last week the Canfax average feeder steer and heifer prices closed the week slightly lower. Heavier weight feeders continue to trade at or near annual price highs while calf prices have been under pressure for the past thirty days. Last week heifers over 800 lbs traded fully steady and are $6/cwt higher than last year. Alberta calf prices are trading at roughly a $6/cwt premium against the US market. Alberta weekly auction volumes totaled just over 24,000 head. Canadian feeder cattle exports to the US for the week ending July 24^th totaled 2,309 head.

Last week Alberta D2 cow prices traded fully steady and live trade was reported from $75-89/cwt. D3 cows averaged $73/cwt. Butcher bulls traded $0.50/cwt lower to average $111/cwt and live trade was reported from $100-127/cwt. Canadian butcher bull exports to the US for the week ending July 24^th totaled 1,232 head.

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Bull

• Beef cutout values continue to strengthen
• Over the past three weeks US pork production has averaged around 485 million pounds, 11% smaller than last year
• Both US beef and pork exports for June were higher than last year

Bear

• Drought conditions continue to impact the Canadian prairies and western US
• From Monday to Thursday pork cutout values declined 4%
• For the week ending July 24^th US steer carcass weights averaged 894 lbs, for the second half of July this is the second largest carcass weight on record. 

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.

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