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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 12, 2024 Current Markets & Forecasts

Canfax Weekly Article | Report for the week of August 12, 2024

In Alberta last week, weighted average fed steer and heifer prices closed the week around $255/cwt live, $1.50/cwt lower than the previous week. From their highs in June, prices have declined $10/cwt. Despite lower prices fed cattle prices continue to be historically strong. Last week, buying interest was noted from all three Western Canadian packers and dressed sales were reported from $423.00-426.50/cwt FOB the feedlot. Cattle that traded were being booked for delivery throughout the month of September (most of the sales were for the first half of September). The Alberta fed cash-to-futures basis did strengthen going from +$0.17/cwt to +$4.85/cwt last week. For the beginning of August, this is the strongest cash to basis on record.

Live cattle contracts have been under pressure taking some shine off the feeder cattle market. Last week, the Canfax average feeder steer price was $6/cwt lower, while heifer prices eased $4/cwt. Week over week the largest price declines were on 900+lb feeders with prices down $7-8/cwt. AB 5-600 pound heifer prices have been steady for the past month averaging on either side of $390/cwt. With the holiday short week, Alberta auction volumes totaled 17,000 head, 4,000 head smaller than last year. Canadian feeder cattle exports to the U.S. for the week ending July 27th totaled 2,109 head.

Alberta D2 cows traded $2.75/cwt higher and live trade was reported from $188-206/cwt. D3 cows averaged $181/cwt. For the month of July, Western Canadian cow slaughter was 24 per cent lower than last year. Butcher bulls traded $5.25/cwt higher, averaging $217.50/cwt, with a trading range from $200-241/cwt. Canadian butcher bull exports to the US for the week ending July 27th totaled 601 head.

Bull

  • Alberta fed cash to future basis levels remain historically strong
  • Alberta cow prices set new record highs last week
  • U.S. 90 per cent trim prices remain at or near record highs

Bear

  • U.S. steer carcass weights have rebounded and are right close to annual high levels
  • U.S. beef exports for the first half of 2024 are down 5 per cent compared to last year
  • Live cattle contracts are trading at the lowest point since May

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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