During the week ending April 5, the feeder market felt sluggish early in the week. Prices were a bit softer on Monday and by Wednesday morning, quoted values were $10 to as much $20 below week ago levels. After making weekly lows Wednesday, prices fully recovered to the previous week’s levels.
Healthy feedlot margins continue to drive the replacement market higher. Canadian live cattle prices made fresh historical highs on Friday. Ontario packers were buying fed cattle in the range of $480-$485/cwt while Alberta processors were bidding $465-$470. Auction market volumes were lower last week and many cattle producers were selling stragglers or off grade feeders. Quality genetic larger packages were well bid and the larger feedlot operators were once again very aggressive.
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South of Edmonton, larger frame Simmental cross steers weighing just under 1,000 pounds on silage and light grain ration with full processing data traded for $365 on Thursday, April 3. On Monday, March 31, a handful of red mixed steers weighing 890 pounds sold for $356 at the Killarney sale. On Friday, April 4, a package of 900 pound backgrounded black steers were valued at $375 fob farm southwest of Winnipeg. There appeared to be a surge of demand from Ontario buyers late in the week in the eastern Prairie regions.
On Monday, March 31, Charolais cross steers weighing 805 pounds with lower flesh levels traded for $390 in central Saskatchewan. On Thursday, April 3, black Angus blends with a mean weight of 810 pounds dropped the gavel at $406 in Lloydminster.
In southern Alberta, Charolais based steers with a mean weight of 725 pounds on light grain and silage diet fully pre-conditioned were valued at $445 fob farm on April 4. On the Ste Rose Auction’s market report dated April 4, black mixed heifers averaging 721 pounds were priced at $399.
In central Saskatchewan, red mixed steers on the card at 620 pounds pounds supposedly sold for $511 on April 3. At the Westlock sale also on April 3, a smaller package of fully weaned black Angus heifers on silage and light grain ration averaging 604 pounds traded for $431.
On the Northern Livestock Sales report from Lloydminster dated April 3 had black 504-pound steers listed at $575. In Southern Alberta, red heifers averaging 500 pounds were valued at $530 on April 4.
The equity markets dropped sharply after U.S. President Donald Trump announced a tariff policy for most countries on Wednesday. Live and feeder cattle futures experienced heavy fund liquidation on Thursday and Friday while the cash cattle markets held value. The cash cattle market tends to lag the stock market by approximately three to four months.
