Daily Cattle Report
Thursday March 11, 2010
Slaughter Report Last updated March 11, 2010
Feeder Report Last updated March 11, 2010
Alberta Cattle Industry Market Report
Alberta direct cattle sales Wednesday saw most cattle passed at bids from $83.00-83.50 from local packers. There was some cattle that sold on a live basis to the US.
Live |
Rail |
|
|---|---|---|
Steers |
82.00-84.00 |
143.50 |
Heifers |
No Trade |
143.85 |
In the cow and bull trade in Southern Alberta on Wednesday:
D1, D2 cows |
D3 cows |
Bulls |
|---|---|---|
53.50-56.50 |
52.00-53.50 |
64.00-69.00 |
US Trade
In the U.S. trade active business isn’t expected until tomorrow. Some light trade could occur in the North. Asking prices are $94.00 live and $150.00 dressed.
US Trade |
|
|---|---|
Choice Steers |
88.00 |
Choice Heifers |
88.00 |
Canadian Dollar
The Canadian dollar at 9:00 this morning was trading at 97.00, down 0.44.
Chicago Mercantile Exchange
On the Chicago Mercantile Exchange, in midsession trade, live cattle futures are as follows:
April |
June |
August |
|---|---|---|
93.75, -0.12 |
91.52, -0.20 |
89.80, -0.02 |
Replacement Trade
Information provided on this report is supplied by various auction markets throughout Alberta. In reference to the following prices, producers are reminded to check with individual markets on current prices and trends. Prices quoted include top quality cattle only.
Feeder and stocker prices in Southern Alberta on Wednesday:
Steers |
Heifers |
|
|---|---|---|
900+ |
87.00-93.50 |
n/a |
800-900 |
92.00-98.25 |
87.00-92.50 |
700-800 |
95.00-106.50 |
88.00-94.50 |
600-700 |
104.00-119.50 |
94.00-108.00 |
500-600 |
113.00-129.50 |
99.00-115.25 |
400-500 |
114.00-130.00 |
110.00-116.50 |
300-400 |
119.00-131.50 |
106.00-118.50 |
Bred Cow |
Bred Heifers |
Cow/Calf Pairs |
|---|---|---|
900.00-1025.00 |
n/a |
n/a |
All information sourced from Statistics Canada, Alberta Agriculture and CanFax
Canfax Weekly Article
The Canadian dollar was one of the only currencies to rally in the face an appreciating greenback last week. Although it may be a safe haven for investment the loonie’s recent strength countered last week’s advances of live cattle futures and narrowed the basis on fed cattle sold into the US. The Canfax weighted average price on steers last week was $84.08/cwt, steady compared to the previous week, while heifers traded $0.15/cwt higher to average $84.52/cwt. Sale volumes of 12,978 head were 17% smaller than the previous week. The cash to futures basis strengthened to -11.81 compared to -13.59 last week. USDA fed export volumes for the week ending February 20th were 10% higher than the previous week at 18,661 head and were 15% higher than this week last year. Feeder steer prices for Alberta averaged $0.65 higher and average feeder heifer prices held steady. Alberta auction market volumes were just under 55,500 head, up 11% from the previous week. YTD auction volumes were 10% higher than this week last year at around 331,000 head. D1,D2 cow prices were over $4.00/cwt higher this week to average $52.65/cwt. Butcher bulls traded $3.20 higher and averaged $62.85/cwt. Bred cows prices were up almost $85/hd to average $865 and bred heifers averaged $950. Cow/calf pair volumes should start to increase this month, but currently are too small to report. Nearby barley futures at Thursday’s close were down $1.50 to finish the week off at $141.50/tonne. This week the Canadian live steer price to Choice cutout value was 54.36%, 1.5% higher than last week.
Bull factors
US fed supply is very current and American packer interest is strong.
Local fed ready numbers are tightening with limited supplies of market ready fed calves expected until mid-April.
Very good retail beef margins.
Bear factors
Appreciating Canadian dollar.
Cattle complex futures are again seeing fund investment and are overvalued.
Cutout values were softer last week.
For more detailed information on markets this week please visit the NEW Canfax website www.canfax.ca.
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