Compared to last week, Western Canadian yearling prices traded steady to $2 lower on average while calf markets were down $3 to $5. Feedlots in Alberta and Saskatchewan are backed up with significant numbers of market ready fed cattle which has set a negative tone for replacement cattle.
Carcass weights are nearing historical highs. Barley prices in Lethbridge were quoted from $450 to $460/tonne delivered, up $10-$15/tonne from last week.
The yearling run is in the final stages. Limited numbers in Saskatchewan and Manitoba made the market hard to define. In Central Alberta, a larger group of tan steers averaging 920 pounds straight off grass silenced the crowd at $232; a small group of mixed medium frame heifers straight off grass with full health data weighing 932 pounds were valued at $205. In Southern Alberta, larger frame Angus blended steers off grass weighing 835 pounds were valued at $245. Northwest of Winnipeg, a small group of red steers weighing just over 800 pounds sold for $238.
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Calf prices were relatively flat across the prairies this week. In East Central Saskatchewan, Simmental mixed larger frame steer calves averaging 720 pounds dropped the gavel at $252 and similar quality heifers weighing just over 700 pounds charted the board at $203. In Manitoba, Charolais weaned steers weighing 650 pounds sold for $265 and similar quality heifers averaging 622 pounds stopped bids at $228. In Central Alberta, mixed steers averaging 590 pounds with full health records straight off their mothers charted course at $263. In the same region, bawling tan heifers that ran across the scale at 550 pounds silenced the crowd at $234. In Southern Alberta, semi-weaned Simmental mixed steers weighing 600 pounds were valued at $266.
Genetic qualities appear to be influencing the price structure on calves under 500 pounds. Northwest of Winnipeg, Charolais steers weighing 425 pounds touched the $325 level. In Central Alberta, red steers balancing the scale at 440 pounds sold for $308.
Alberta packers were buying fed cattle on a dressed basis at an average price of $302/cwt delivered. Using a 60 per cent grading, live prices would be $181/cwt delivered in Alberta. Domestic packers were buying cattle last week for delivery in late November or early December. In Nebraska and Colorado, fed cattle traded in the range of US$150-US$152/cwt which equates to CD$204-CD$207/cwt. The Alberta discount to Nebraska is historically wide. Fed cattle supplies are rather snug south of the border while Alberta feedlots are struggling to move market ready supplies.
