AB Direct - Steers

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US Trade- Steers

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Canadian Dollar

$73.78
0.34
(Laurie Johnson/Johnson Family Livestock for Canada Beef Inc.)
November 8, 2021 Current Markets & Forecasts

Canfax Weekly Article | Report for the week of November 8, 2021

Alberta fed bids started off at $257/cwt delivered and by Wednesday afternoon/Thursday, bids/sales were reported in the $261-262/cwt area delivered to the plant. Dressed bids/sales were anywhere from steady to $5/cwt higher than the previous week. Sale volumes were too light to establish a weighted average price trend last week. For the month of October western Canadian fed slaughter averaged 45,911 head/week compared to 44,762 head/week last year. Western Canadian steer carcass weights dropped sharply averaging 914 lb. This is the smallest carcass weights have been since late August.

Light calves saw prices ease around $2.50-4.50/cwt lower than the previous week and middle weight calves from 500-700 lb were modestly lower. Large feeders over 700 lb traded steady to $3/cwt lower on varied quality and reduced offerings. Manitoba 500-600 lb steer calf prices saw a $2/cwt premium to Alberta. Weekly auction volumes in Alberta were 14% smaller than the previous week at 82,239 head and were 7% lower than year ago. YTD auction volumes were 30% larger totaling 1,400,898 head. Feeder exports to the U.S. for the week ending October 23rd were 19% smaller than the previous week at 3,934 head and were 76% larger than the same week last year. YTD feeder exports are up 7% at 104,117 head.

Non-fed prices were mixed last week with slaughter cows slipping $2/cwt lower and butcher bull prices firmed $1/cwt higher. Alberta D2 cows slid to a new annual low; averaging $61.29/cwt, the lowest weekly average since early 2011. Compared with Ontario, Alberta D2 cows traded at a $6.32/cwt discount. Slaughter cow prices across the western prairies were comparable. Dressed cow bids continued sideways from $120-125/cwt delivered. Butcher bull prices for the week averaged $93.94/cwt.

Bull.

  • Risk management opportunities have improved.
  • Steer carcass weights dipped significantly lower than the previous week and year ago.
  • Cutout values are seasonally strengthening.

Bear.

  • Packers maintain large out-front slaughter inventories.
  • Barley prices are firming higher.
  • Slaughter cow prices are near a ten year lower.

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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Livestock Price Insurance Index

Expiry Fed Feeder Calf
20-Feb 192 226 -
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17-Apr 200 230 -
15-May 202 238 -
12-Jun 206 248 -
10-Jul 202 - -
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Last Updated on November 24, 2022