Canfax Weekly Article | Report for the week of September 30, 2024

In Alberta last week, fed steer averaged almost 242/cwt and heifer traded just below $240/cwt. The Western Canadian fed market established a new second al of the year price lows, while US fed prices have rebounded roughly $5/cwt over the past couple weeks. On a cash basis, Alberta fed prices are now trading at a $10/cwt discount against the Nebraska market. Packing segment seem to have the leverage, which is uncommon for this time of the year. Dressed sales were reported from $405.00/cwt delivered, most of the cattle traded were scheduled for the second half of October delivery.

Last week, Alberta auction total 36,079 head, down 28 per cent from last year. The Canfax average for steer and heifer traded $5/cwt and $2/cwt stronger than last week respectively, following five consecutive weeks of weaker prices. Calf numbers appear to be increasing at auction markets. This week would suggest calf prices could trend steady to higher in the coming weeks. For the week ending September 20th, Lethbridge barley averaged $276.50/tonne, up $8/tonne from the previous week. This is the first time in eight weeks it has traded above $270/tonne.

The Alberta non-fed market continues seasonally decline. Alberta D2 cows averaged $181/cwt, down $3/cwt from last week. It has been trading above $180/cwt for the last 22 weeks. Alberta D3 cows averaged just shy of $169/cwt, down $2/cwt from last week. Butcher bulls traded $5/cwt lower than the previous week.

Bull

• Calf numbers appear to increase at auction markets
• Alberta feeder have a positive week following five consecutive weeks of weaker prices
• Canadian fed cattle shipments to the US remain well above last year

Bear

• Fed slaughter volumes been below last year for two consecutive weeks
• Lethbridge wheat strengthened for four consecutive weeks
• Non-fed market continues to seasonally declines