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November 25, 2024 Current Markets & Forecasts

Canfax Weekly Article | Report for the week of November 25, 2024

Alberta fed prices has finally broken to the upside after being stuck in a five-dollar trading range from $240-245/cwt, hitting the highest point since mid-August. Dressed sales were reported from $405-408/cwt delivered. Cattle traded were scheduled for first half of December delivery. U.S. packer interest was noted, with light volumes marketed South priced off the five-area average. Negotiated cash sales to the U.S. were reported in the mid to upper $250’s/cwt FOB the feedlot. Cattle traded to the U.S. will be shipped out in December. Western Canadian fed slaughter in recent weeks have averaged 39,888 head per week, 7 per cent below last year.

Last week, Alberta auction volumes were close to 55,000 head, the first time in four weeks it has fallen below the five-year average. As the fall run wraps up, volumes are expected to further decline. The fall run made a price low in the third week of September, touching last year’s price peak. Over the past decade, only 2014 and 2020 recorded price rallies this late into the year. Calves weight 5-600 pounds saw the largest rally last week, trading $12-17/cwt higher. The only year in the last decade see annual highs this late in the season was 2014. For the week ending November 9th, feeder cattle exports to the U.S. were 3,587 head; they have run below last year for 21 consecutive weeks.

Alberta D2 and D3 cow traded $2/cwt lower averaging $168 and $157/cwt respectively. Butcher bulls also traded $2/cwt lower averaging $188/cwt. For week ending November 16th, Western Canadian non-fed slaughter was just shy of 6,800 head, the largest weekly slaughter volume since the end of April. Western Canadian cow carcass wights averaged 779 pounds last week, 41 pounds heavier than the same week last year.

Bull

  • The fed market has finally broken to the upside after trading sideway for the past three months
  • Bred sales are starting to pick up with stronger prices
  • Calves weighing 5-600 pounds saw a $12-17/cwt rally setting new annual highs

Bear

  • U.S. November 1st cattle on feed inventories at 12 million head, is the third largest since reporting started
  • Over the past four weeks, Western Canadian fed slaughter averaged 39,888 head per week, remain 7 per cent below last year.
  • Alberta cull cows and butcher bulls closed the week $2/cwt softer

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About the Author

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: 05/12/2024

Steers

Live: ---
Rail: 415.00 del

Heifers

Live: ---
Rail: 415.00 del

Choice Steers

Live: 190.00 (IA, NE)
Rail: ---

Choice Heifers

Live: 190.00 (IA, NE)
Rail: ---

Boner Cows

Over 500 lbs: 223.55

Canadian Dollar

$71.27   0.14

Livestock Price Insurance Index

Expiry Fed Feeder Calf
17-Feb-25 236 338 --
17-Mar-25 236 334 --
14-Apr-25 242 336 --
12-May-25 246 338 --
9-Jun-25 254 338 --
7-Jul-25 246 -- --
4-Aug-25 240 -- --
Last Updated on November 21, 2024

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