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AB Direct - Steers

Live: ---
Rail: 415.00-420.00 del

AB Direct - Heifers

Live: ---
Rail: 415.00-420.00 del

US Trade- Steers

Live: 182.00 (KN, TX) 185.00 (NE)
Rail: 293.00-295.00 (NE, IA)

US Trade - Heifers

Live: 182.00 (KN, TX) 185.00 (NE)
Rail: 293.00-295.00 (NE, IA)

Canadian Dollar

$72.82
0.32
December 5, 2022 Current Markets & Forecasts

Canfax Weekly Article | Report for the week of  December 5, 2022

Western Canadian-fed prices have been steady for the past seven weeks, while Ontario and U.S. prices continue to advance. December is traditionally a strong month for the fed cattle market. However, enthusiasm has been muted by smaller fed slaughter volumes during the second half of this year and historically long pick-up times. Last week, dressed bids and sales were reported from $304-305/cwt delivered; cattle were being scheduled for mid-January delivery. Light volumes of Alberta-fed cattle traded to the U.S. at USD$235/cwt delivered, depending on freight and dressing percentage; sales were working back to the mid $180s/cwt and were at premium over local deals.

Alberta feeder prices eased modestly lower last week, as frigid temperatures across the prairies limited marketing and buyer interest. Calves from 4-700 lb traded mixed, with steer prices steady to $2.50/cwt lower and heifer prices trended steady to $1.35/cwt higher. Large feeders over 700 lb traded seasonally softer on reduced lot size and quality. Saskatchewan calf prices were generally comparable with Alberta last week, but Manitoba calves, in close proximity to the Ontario market, once again commanded a premium. YTD auction volumes are down 3% from the same week last year totaling 1,578,955 head, but were 4% larger than the five-year average. Canadian feeder exports to the U.S. for the week ending November 19th were 49% larger than the previous week at 3,208 head and YTD were 54% larger than year ago, totaling 185,800 head.

Ample slaughter cow marketings were reported at auction again last week and prices eased lower. D2 cow prices slipped $3.40/cwt lower than the previous week to average $83.20/cwt and were at a $13+/cwt discount to Ontario this week and U.S. Utility cow the previous week. Dress cow bids slipped $5/cwt lower than the previous week to around $160-165/cwt delivered. Western Canadian non-fed slaughter for the week ending November 26th was down 4% from the previous week and for the second week in a row were above 9,000 head. Butcher bull prices trended sideways averaging $118.64/cwt.

Bull

  • U.S. buyers continue to procure Canadian-fed cattle.
  • Steer carcass weights are seasonally poised to ease lower.
  • U.S.-fed supplies continue to tighten.

Bear

  • The historical weak cash basis is not conducive to stronger first quarter fed prices.
  • Packers remain long bought.
  • Non-fed cattle are taking up fed hook space.

Disclaimer: Not for further distribution without permission from Canfax. 

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: 12/04/2024

Steers

Live: ---
Rail: 415.00-420.00 del

Heifers

Live: ---
Rail: 415.00-420.00 del

Choice Steers

Live: 182.00 (KN, TX) 185.00 (NE)
Rail: 293.00-295.00 (NE, IA)

Choice Heifers

Live: 182.00 (KN, TX) 185.00 (NE)
Rail: 293.00-295.00 (NE, IA)

Boner Cows

Over 500 lbs: 250.84

Canadian Dollar

$72.82   0.32

Livestock Price Insurance Index

Expiry Fed Feeder Calf
8-Jul-24 226 -- --
5-Aug-24 222 318 --
2-Sep-24 220 324 --
30-Sep-24 220 324 366
28-Oct-24 218 324 366
25-Nov-24 216 320 364
23-Dec-24 222 312 360
Last Updated on April 11, 2024

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