Source: Alberta Beef Producer
Canfax fed steer and heifer prices closed the week around $157/cwt, $0.50/cwt lower than the previous week. Last week dressed sales were reported from $260.00-263.50 FOB lot. Cattle that traded last week were being booked for late September/early October delivery. On a cash-to-cash basis, Alberta fed prices are trading at a slight premium against the Nebraska market.
Last week the Canfax average feeder steer price closed the week $2/cwt higher while heifer prices eased $0.75/cwt. The largest price declines were on heifers weighing from 400-500 lb with prices down $4/cwt. Steers over 700 lb traded $2-3/cwt stronger and prices are trading at or close to annual highs. Last week a few commercial auction facilities highlighted their annual forward delivery calf sales, boosting auction volumes. Alberta weekly auction volumes totaled just over 72,000 head. Canadian feeder cattle exports to the US for the week ending September 4th totaled 3,162 head.
Last week Alberta D2 cow prices traded $2.50/cwt higher and live trade was reported from $74-86/cwt. D3 cows averaged $71/cwt. Butcher bulls traded $2.50/cwt higher to average $107.50/cwt and live trade was reported from $92-124/cwt. Canadian butcher bull exports to the US for the week ending September 4th totaled 1,168 head.
- According to USDA, beef, pork, and chicken retail prices for August set new record highs.
- The fire at the Grand Island beef packing plant in Nebraska caused minimal damage to the primary production areas of the plant and slaughter resumed back to normal last week.
- U.S. 50% trim prices are over 200% higher than last year.
- AB/SK cattle on feed inventories for the beginning of September remain record large.
- From their highs in late August, February to August 2022 live cattle contracts have declined over 600 points.
- Choice cutout values have declined for 15 straight trading sessions dropping $29/cwt, and further price weakness is still expected into October.
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