Canadian feeder cattle market remains firm
For the week ending Feb. 21, western Canadian markets for yearlings or backgrounded cattle traded steady to $10 per hundredweight higher.
The calf market was mixed with values quoted $5 higher to $10 per cwt. lower.
Feedlot margins appear to be improving in the short-term, which supported the yearling market. Extremely cold temperatures across most of Alberta may have contributed to softer market for calves.
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Near Leoville, Sask., a group of 300 mixed medium-frame steers carrying lighter butter averaging 970 lb. on backgrounding ration with full processing traded for $470 per cwt. f.o.b. farm.
The Perlich Bros. market report include a small package of Angus-Charolais cross yearling steers weighing 900 pounds that sold for $502 per cwt.
The TEAM market report had a group of 73 black steers with a mean weight of 830 lb. with full processing records and implants on six pounds barley and silage diet selling for $525 per cwt. f.o.b. ranch near Consort, Alta.
In southern Alberta, a pen-sized group of 120 medium to larger frame Simmental-cross mixed heifers with full processing data and implants on light grain and corn silage diet (controlled weight gain) averaging 840 lb. were priced at $465 per cwt. f.o.b. farm.
The VJV Ponoka market report included a group of Charolais-cross steers weighing 741 lb. on the full herd health program with implants coming off diet of light barley and silage ration that sold for $557 per cwt.
At the same sale, similar quality heifers on the same program weighing 699 lb. were valued at $540 per cwt.
At the ring sale in Clyde, a group of 24 Angus heifers evaluated at 607 lb. traded for $623 per cwt.
The Perlich Bros. market report included a group of 98 black steers on the full herd health program weighing 609 lb. that sold for $687 per cwt.
The Killarney market report had an eight-pack of black steers with a mean weight of 534 lb. priced at $718 per cwt.
North of Calgary, a farmer reported that a group of Angus cross heifers weighing 510 lb. reportedly sold for $670/cwt.
For last half August and first half September delivery, 1,000 lb. yearling steers in central Alberta are trading in the range of $480-$485 per cwt. f.o.b. ranch.
Alberta packers were buying fed cattle on a dressed basis in the range of $525-$530 per cwt. delivered, up from the average value of $520 per cwt. seven days earlier. Using a 60 per cent grading, live prices would be equivalent to $315-$318 per cwt. delivered.
Feedlot break-even pen closeouts are in the range of $317-$320 per cwt. for February.
In the United States, live prices were quoted at US$249 per cwt., up $1 per cwt. from a week earlier. This is a fresh record high for the U.S. finished market.
Disposable income for the average American is expected to increase by four to five per cent this year.
January and February are two months of seasonal low beef demand. We’re expecting wholesale beef values and fed cattle prices to percolate higher over the next couple of months.
Source: producer.com