In Alberta last week, weighted average fed steer and heifer prices closed the week around $266/cwt live, $2/cwt lower than the previous week. With historically strong fed prices, some cattle are being pulled forward and sold ahead of schedule. Inventory wise feedlots are very current as Western Canadian carcass weights are 50 lb below last year. Light trade was reported last week with dressed sales reported from $444.00-448.50/cwt FOB the feedlot. U.S. packer interest was quiet last week, and no negotiated cash sales were reported. Western Canadian packers have scaled back hours to match tighter cattle supplies.
Last week, the Canfax average feeder steer and heifer price was steady $2/cwt lower. Week over week, the large price decline was on steer calves from 4-600 lbs with prices down 8-10/cwt. The forward delivery market was lightly tested last week, AB 950+ lb steers for late summer/early fall delivery traded in the low $360’s/cwt. During the first quarter of 2024, a lot of forward delivery sales for 950 lb+ grass steers were in the $330/cwt area, suggesting prices are $30/cwt higher than a year ago. Alberta auction volumes were just over 42,000 head, 12,000 head larger than last year. Canadian feeder cattle exports to the U.S. for the week ending January 11th were 2,072 head.
Last week, Alberta D2 cows traded $2/cwt lower and live trade was reported from $175-195/cwt. D3 cows averaged $170/cwt. Alberta cow prices are trading at a slight premium compared to the US market. Butcher bulls traded $1.50/cwt lower, averaging $201.75/cwt, with a range from $185-222/cwt. Canadian butcher bull exports to the US for the week ending January 11th were 172 head.
For the January episode of The Bovine, Brenna Grant, Executive Director of Canfax Research Services, joins host Kara Mastel to explore the potential impacts of a proposed 25 per cent U.S. tariff on Canadian goods. From fluctuating exchange rates to exploring alternative markets like Japan and Korea, Brenna provides analysis on what cattle producers can expect and how they can prepare.
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