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May 25, 2021 Current Markets & Forecasts

Canfax Weekly Article | Report for the week of May 25, 2021

Canfax fed steer and heifer prices closed last week around $163/cwt, fully steady with the previous week. Last week dressed sales were reported from $271.50-272.50/cwt FOB the lot. Most if not all the cattle that traded last week were being scheduled for the week of June 7th delivery. Last week it was estimated Alberta fed prices were trading at a $19/cwt premium against the US market.  

Last week the Canfax average feeder steer and heifer price closed the week slightly lower. All classes of cattle are trading above last year. Last week the largest week over week price declines were on steers weighing from 7-900 lbs, down $3-4/cwt. Feeders weighing over 900 lbs traded steady to $1/cwt higher. Western Canadian calf and feeder indices closed the week at $218.47/cwt and $187.19/cwt respectively. Alberta weekly auction volumes totaled just over 16,000 head. Canadian feeder cattle exports to the US for the week ending May 8th totaled 1,769 head.

Last week Alberta D2 cow prices traded $3/cwt higher and live trade was reported from $90-110/cwt. D3 cows averaged $87.75/cwt. Butcher bulls traded $1/cwt lower to average $113/cwt and live trade was reported from $100-130/cwt. Canadian butcher bull exports to the US for the week ending May 8th totaled 729 head.

Bull.

  • Butcher cow prices are trading at the highest point since July 2017
  • Last week’s US weekly cattle slaughter is estimated at 669,000 head, the largest this year
  • The Argentina government has halted beef exports for 30 days to curve inflation

Bear.

  • USDA May 1st cattle on feed report should be viewed as slightly bearish as placements came in larger than expected
  • The Canadian dollar is trading very close to a five-year high
  • The NPD Group reports first quarter 2021 total food service traffic in Canada was down year over year

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

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Last Updated on August 4, 2022