For the week ending Saturday, western Canadian yearlings over 800 lbs. were relatively unchanged. Feeder cattle in the range of 600-700 lbs. were up $4-$8/cwt. The market was hard to define for feeder cattle under 600 lbs. due to limited numbers. Prices for quality calves were unchanged from seven days earlier while straggler types were heavily discounted. Alberta packers were buying fed cattle on a dressed basis at an average price of $415/cwt delivered, up $2 from the previous week. Live sales f.o.b. the feedlot in southern Alberta were reported at $246/cwt.
Read Also

U.S. livestock: Feeder cattle extend rally to new highs
Chicago Mercantile Exchange feeder cattle futures extended gains to record highs on Wednesday while live cattle futures set a contract high before pulling back.
Ongoing strength in the fed market continues to underpin the feeder complex. Auction markets had limited supplies last week and feedlots were aggressive on larger groups of quality yearlings. Slippage in deferred live cattle futures and strength in the Canadian dollar tempered the upside.
North of Saskatoon, a larger group of Charolais and Angus mixed steers weighing 990 lbs. on grass diet sold for $280. In central Alberta, Simmental-blended steers on forage diet with full health data averaging 930 lbs. sold for $288. In the same region, a smaller group of medium-frame lighter-flesh mixed heifers sized at 830 lbs. sold for $280. Near Lethbridge, a small group of red steers weighing 805 lbs. were bid up to the psychological level of $300.
East of Saskatoon, a smaller group of Angus mixed steers weighing 720 lbs. on grass diet were valued at $325. West of Edmonton, tan steers on forage diet with full health records scaled at 722 lbs. silenced the crowd at $334. In the same region, Charolais-based heifers off grass with processing data reported at 740 lbs. notched the board at $299. Near Lethbridge, a small group of black steers weighing 750 lbs. were quoted at $311.
In central Alberta, a small group of mixed weaned steers with processing data on grass and hay diet weighing 670 lbs. sold for $362 and black semi-weaned heifers weighing 600 lbs. were valued at $310. In east-central Saskatchewan, a small group of tan unweaned steers weighing just over 500 lbs. sold for $404. In central Alberta, black unweaned heifers weighing 460 lbs. sold for $330.
The western Canadian feeder market will function to ration demand by trading at a premium to U.S. feeder values in the latter half of 2023. The U.S. Department of Agriculture’s latest cattle on feed report was considered bearish for the U.S. cattle market. Look for Canadian feeder values to divorce from weakness in the U.S. feeder market.
— Jerry Klassen is president and founder of Resilient Capital, specializing in proprietary commodity futures trading and market analysis. Jerry consults with feedlots on risk management and writes a weekly cattle market commentary. He can be reached at 204-504-8339 or via his website at ResilCapital.com.