AB Direct - Steers

Live: ---
Rail: 372.00 del

AB Direct - Heifers

Live: ---
Rail: 372.00 del

US Trade- Steers

Live: ---
Rail: 288.00 *few (NE)

US Trade - Heifers

Live: ---
Rail: 288.00*few (NE)

Canadian Dollar

$74.24
0.07
Photo Credit: ABP's Environmental Stewardship Award Archives
June 12, 2023 Current Markets & Forecasts
by Canfax

Canfax Weekly Article | Report for the week of June 12, 2023

The Canfax fed steer price closed the week at around $245.50/cwt, $3.75/cwt higher than the previous week. Over the past six weeks, fed prices have rallied $20/cwt. Last week, dressed sales were reported $406.50-410.50/cwt FOB the feedlot. Cattle that traded were being scheduled anywhere from immediate delivery to the first half of July delivery. Feedlot margins are positive, and cattle are being marketed ahead of schedule. Western Canadian steer carcass weights continue to seasonally decline. Carcass weights are the smallest they have been since June 2019. YTD Western Canadian fed beef production is 6% lower than last year.

All classes of calves/feeders traded steady to higher last week, and new annual highs were established. The Canfax average feeder steer price was $3.50/cwt higher, while heifer prices strengthened $7/cwt. Week over week, the largest price increase was on heifers over 700 lb, with prices $9-10/cwt higher. Over the past month, steers weighing from 7-800 lb have rallied $14/cwt. The Western Canadian calf index closed the week at $345.95/cwt. Alberta auction volumes totaled just more than 23,000 head, 4,000 head more than this week last year. Canadian feeder cattle exports to the U.S. for the week ending May 27 totaled 2,298 head.

Alberta D2 cows traded $2/cwt lower than the previous week, and live trade was reported from $145‑167/cwt. D3 cows averaged $138.50/cwt. Butcher bulls traded $2.75/cwt higher, averaging $164.25/cwt, with a trading range from $148-186/cwt. Canadian butcher bull exports to the U.S. for the week ending May 27 totaled 391 head, 34% lower than the same week last year. Over the past couple of weeks, Alberta cow prices have been at a $12-14/cwt premium against the U.S. utility cow market.

Bull:

  • All 2023 live cattle contracts set new highs last week.
  • From Friday to Friday, Choice and Select beef cutout values advanced U.S. $15-23/cwt, setting new annual highs.
  • Even with lower carcass weights, quality grade percentage (Prime/AAA) remains near record high for this time of the year.

Bear:

  • Based off the five-year average, Alberta fed cash-to-futures basis levels historically weaken from May to June.
  • U.S. beef exports for the month of April were 12% lower than last year.
  • Dry conditions are being noted across much of the prairies, and there has been a sharp increase in non-fed volumes through commercial auction facilities.

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About the Author

Canfax

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.

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Cattle Report

Updated: 23/02/2024

Steers

Live: ---
Rail: 372.00 del

Heifers

Live: ---
Rail: 372.00 del

Choice Steers

Live: ---
Rail: 288.00 *few (NE)

Choice Heifers

Live: ---
Rail: 288.00*few (NE)

Boner Cows

Over 500 lbs: 212.04

Canadian Dollar

$74.24   0.07

Livestock Price Insurance Index

Expiry Fed Feeder Calf
13-May-2024 230 330 --
10-June-2024 238 340 --
8-July-2024 234 -- --
5-August-2024 232 340 --
2-September-2024 230 346 --
30-September-2024 230 348 388
28-October-2024 228 348 388
Last Updated on February 16, 2024

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