Canfax Weekly Article | Report for the week of July 19, 2021

Canfax fed steer and heifer prices closed last week around $151.75/cwt, $3/cwt lower than the previous week. Fed cattle prices have declined for five straight weeks, and over that timeframe have dropped $12.50/cwt. Last week dressed sales were reported from $251.50-255.50/cwt FOB the lot. Most of the cattle that traded were being scheduled for the week of August 9^th delivery. Competition on the cash market was limited, and there were instances where packers were not even bidding on cattle last week.  

Last week the Canfax average feeder steer price closed $3.25/cwt higher while heifer prices on average increased $2.50/cwt. Steers weighing from 8-900 lbs traded $3.50-5.00/cwt higher and established new annual price highs. Calf and light weight stocker prices traded $1-6/cwt higher. With dry conditions across the prairies, some grass yearlings are being marketed 1-2 months earlier than normal.  Alberta weekly auction volumes totaled just under 20,000 head. Canadian feeder cattle exports to the US for the week ending July 3^rd totaled 3,889 head. 

Last week Alberta D2 cow prices traded $4/cwt lower and live trade was reported from $82-100/cwt. D3 cows averaged $80/cwt. Butcher bulls traded $0.25/cwt lower to average $115/cwt and live trade was reported from $100-136/cwt. Canadian butcher bull exports to the US for the week ending July 3^rd totaled 734 head. 

Bull.

• Western Canadian fed slaughter for the week ending July 10^th was the largest seen this year 
• According to USDA the all-fresh beef retail price for June is the second highest in history 
• From January to May Canadian beef exports are up 29% in volume and 25% in value compared to last year 

Bull. 

• AB/SK July 1^st cattle on feed should be viewed as slightly bearish as June placements were larger than expected   
• Alberta fed prices are now trading at a discount to the US market  
• Feedlots are in a tough spot as fed prices have been under pressure and barley prices remain record high  

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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