Canfax Weekly Article | Report for the week of June 14, 2021

Canfax fed steer and heifer prices closed last week around $164/cwt, $0.50/cwt higher than the previous week. Last week dressed sales were reported from $271-278/cwt FOB the lot. Most of the cattle that traded last week were being scheduled for late June/early July delivery. Last week it was estimated Alberta fed prices were trading at a $19.50/cwt premium against the US market. With strong basis levels Canadian fed cattle exports to the US have slowed.

Last week the Canfax average feeder steer price closed the week $3.25/cwt higher while heifer prices on average increased $1.75/cwt. Steers and heifers weighing from 8-900 lbs traded $2-4/cwt higher and established new annual price highs. Steer calves and light weight stockers traded $3-7/cwt higher last week. Western Canadian calf and feeder indices closed the week at $221.46/cwt and $192.57/cwt respectively. Alberta weekly auction volumes totaled just under 15,000 head. Canadian feeder cattle exports to the US for the week ending May 29^th totaled 2,521 head.

Last week Alberta D2 cow prices traded $0.25/cwt lower and live trade was reported from $92-114/cwt. D3 cows averaged $90/cwt. Butcher bulls traded $2/cwt higher to average $114.50/cwt and live trade was reported from $100-135/cwt. Canadian butcher bull exports to the US for the week ending May 29^th totaled 532 head.

Bull.

• Canadian beef exports for the month of April were 66% larger than last year and larger than the five-year average
• It seems like it has been a long time coming but feedlot margins are slightly positive
• February and April 2022 live cattle contracts established new contract highs

Bear.

• Seasonally fed cattle prices decline heading into the summer months
• US hog carcass weights averaged 215 lbs, for early June this is the second largest hog carcass weight on record
• Over the past three years US Choice cutouts have declined from the start of June to the end of June

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

Disclaimer: Not for further distribution without permission from Canfax