For the week ending March 15, Western Canadian feeder cattle markets traded $8-$12 higher compared to seven days earlier. Prices fully recovered from the prior week with values quoted at or near historical highs. Finishing feedlots were aggressive across all weight categories due to strength in the nearby and deferred live cattle futures. Once again, buyers have shrugged off the looming U.S. tariffs set for early April. There was limited slippage on fleshier types of backgrounded steers but heifers were discounted accordingly. Some packages of quality packages of calves under 600 pounds traded as much as $20 above week ago levels; however, prices were quite variable across the prairies in the lighter weight categories.
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In central Alberta, larger frame Simmental cross steers carrying lighter butter on light grain and silage diet with full processing data averaging 900 pounds traded for $375. In the same region, medium to larger frame, black mixed heifers weighing 865 pounds with some fleshier types included, supposedly traded for $340.
North of Saskatoon, mixed steers carrying medium flesh levels weighing 875 pounds coming off backgrounding grain diet with full processing records supposedly traded for $377 fob farm. At the St Rose Auction in Manitoba, the market report had Charolais steers weighing 846 pounds selling for $385.
East of Edmonton, a small package of Angus blended heifers carrying medium flesh averaging 800 pounds sold for $355. South of Edmonton, black, wide frame Limousin based heifers evaluated at 800 pounds with lower flesh levels were last bid at $367.
Southeast of Calgary, Charolais cross steers weighing 680 pounds apparently traded for $455. At the Ponoka sale on March 12, red mixed steers with a mean weight just under 600 pounds notched the board at $506. North of Calgary, red mixed heifers averaging 630 pounds supposedly settled at $431.
At the Lloydminster sale, a smaller package of black steers weighing 516 pounds silenced the crowd at $571. In southern Manitoba, a smaller package of black mixed steers weighing 507 pounds reportedly moved through the ring at $505. Northwest of Winnipeg, red mixed steers weighing 460 pounds apparently dropped the gavel at $582.
Alberta packers were buying fed cattle on a dressed basis in the range of $450-$455/cwt delivered, up $5-$20/cwt from the week ending March 8. Feeding margins continue to hover in positive territory which is supportive for the feeder complex. In the short-term, feedlot operators have a bullish outlook for fed cattle. This is barring no U.S. tariffs of course.
