Canfax Weekly Article | Report for the week of March 15, 2021

The Canfax fed steer price closed last week around $149/cwt, $1/cwt lower than the previous week. Fed prices are at their lowest point in seven weeks. Last week dressed sales were reported from $247-250/cwt FOB the lot. Cattle that traded last week were being scheduled for the week of April 5^th and 12^th delivery. Last week on a cash to cash basis, Alberta fed prices were trading at an estimated $7.50/cwt premium against the US market.

Last week the Canfax average feeder steer price closed the week $1.50/cwt lower while heifer prices were mostly steady. The largest week over week price decline was on 3-400 pound calves with prices down $5/cwt. Steers over 700 lbs traded $1-2/cwt lower while same weight heifer prices closed the week steady to $2/cwt higher. Western Canadian calf and feeder indices closed the week at $216.61/cwt and $185.02/cwt respectively. Alberta weekly auction volumes totaled just over 41,000 head. Canadian feeder cattle exports to the US for the week ending February 27^th totaled 1,884 head.

Alberta D2 cow prices traded fully steady with live trade reported from $80-94/cwt. Last week D3 cows averaged $75.25/cwt. YTD Western Canadian cow slaughter is 17% lower than last year. Butcher bulls traded $1.75/cwt lower to average $105/cwt and live trade was reported from $90-124/cwt. Canadian butcher bull exports to the US for the week ending February 27^th totaled 663 head.

Bull.

• The Choice beef to pork cutout ratio is 2.34 versus 3.17 last year, suggesting beef is more competitively priced with pork compared to last year
• Total Canadian beef exports for the month of January were 9% larger than last year
• US steer carcass weights have dropped 20 lbs over the past two weeks

Bear

• US beef cutout values were under pressure for most of the week
• In Western Canada, there have been reports packers are behind schedule picking up cattle
• On Friday the Canadian dollar closed over 80 cents

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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