Canfax Weekly Article | Report for the week of November 1, 2021

Canfax fed steer and heifer prices last week were around $153/cwt, $2.50/cwt lower than the previous week. This is the lowest fed prices have been in nine weeks. Dressed sales were reported from $254-256/cwt FOB lot. Cattle that traded last week were being booked for the second half of November delivery. On a cash-to-cash basis, Alberta fed prices were estimated at a $2.75/cwt discount against the US market.

Last week the Canfax average feeder steer and heifer price closed the week $1/cwt lower. Over the past month 500-600 lb prices have dropped around $10/cwt but did show signs of stability last week. Steers and heifers weighing over 800 lb traded $2/cwt lower. Western Canadian calf and feeder indices closed the week at $206.18/cwt and $194.04/cwt respectively. Alberta weekly auction volumes have likely peaked totaling just over 95,000 head last week. Canadian feeder cattle exports to the U.S. for the week ending October 16^th totaled 4,841 head.

Last week Alberta D2 cow prices traded $6.75/cwt lower and live trade was reported from $57-68/cwt. D3 cows averaged $54.25/cwt. Butcher bulls traded $3.50/cwt lower to average $93/cwt and live trade was reported from $80-108/cwt. Canadian butcher bull exports to the US for the week ending October 16^th totaled 680 head.

Bull.

• Last week U.S. weekly slaughter was estimated at 668,000 head, if realized this would be the largest for that week since 2011.
• The U.S. all fresh beef retail price for September set new record highs.
• Based on the five-year average, fed prices historically strengthen over the next two months.

Bear.

• Alberta fed basis levels historically weaken from October to November.
• Alberta D2 cow prices are at the lowest point since 2011.
• Competition on the western Canadian fed cash market has been limited over the past couple of weeks. 

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