NEWS
THE WESTERN PRODUCER | WWW.PRODUCER.COM | JUNE 7, 2012
CANFAX REPORT FED PRICES EDGE HIGHER Beef buying on the U.S. Memorial Day weekend, May 26-28, was strong, raising hopes for good sales through June despite a weak U.S. job market. Improved beef cut-out values and the weak loonie helped cattle prices in Canada. Canfax said fed steers for the week averaged $113.18 per hundredweight, up nine cents and heifers were $113.09, up 63 cents. Last year at the same time, fed values had slipped below $100 per cwt. Interest from Canadian packers was supportive. U.S. interest was moderate due to larger showlist volumes in Nebraska and Colorado. Sales for the week totalled 17,007, down 18 percent from the previous week. The cash-to-futures basis strengthened to -$6.98, while the cash-tocash basis weakened slightly. Weekly fed exports to May 19 totalled 7,820, up seven percent from the previous week. Canadian steer and heifer carcass weights are 23 pounds and 56 lb. respectively, larger than the same week last year. Excellent performance has pushed cattle weight gain well ahead of schedule. However, market-ready supplies in June are anticipated to be manageable.
COWS RISE Non-fed slaughter cow prices rose more than 75 cents per cwt. D1, D2 cows ranged $75-$89 to average $81.10.
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TRADE | SALES FREEZE
D3 cows ranged $67-$80 to average $72.50. Good demand for leaner cows pushed rail prices up $3 to $155-$161 per cwt. Butcher bull prices rose more than $4, pushing the average to $97.14. Top end bulls traded as high as $110. Weekly exports of non-fed cattle to May 19 rose 19 percent to 3,465 head. Excellent North American hamburger demand and seasonally lower marketings should support prices.
FEEDERS STRONGER A light to moderate volume of feeder cattle sold generally $2 per cwt. higher. Weight and quality varied, making it difficult to determine a trend for specific types. Generally, there is good buyer interest in anticipation of high fall feeder prices. Auction volume was up 11 percent at 15,438 head, down six percent from last year. Non-fed cattle made up a significant portion of the week’s trade. Weekly feeder exports to May 19 rose 15 percent to 5,747 head. This year exports are up 83 percent to date. Good feedlot interest on both sides of the border for bunk replacements should support prices, as will the lower loonie and weaker corn prices.
U.S. BEEF RISES The U.S. Choice cut-out composite rose $2.62 to $197.25 on June 1 while
Select fell 10 cents to $185.26. The Montreal wholesale for delivery this week traded at $210-$212. Canadian cut-out values for the week of May 25 were unavailable. Weekly Canadian fed slaughter to May 26 was down six percent at 44,643 head.
This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattlemen’s Association. More market information, analysis and statistics are available by becoming a Canfax subscriber by calling 403275-5110 or at www.canfax.ca.
WP LIVESTOCK REPORT HOGS RISE
ers born in 2011 were $2-$2.40 and bulls were $2.25-$2.65.
U.S. hog prices jumped higher on tighter supply of hogs and rising pork prices. Retailers were buying for the grilling season. The average barrow and gilt live weight in Iowa-Minnesota last week was 274.3 pounds, down 1.8 lb. from a week earlier. Iowa-southern Minnesota live hogs rose to $63.50 US per hundredweight, up from $62 May 25. U.S. pork carcass cut-out values jumped to $82.39 June 1, up from $77.97 May 25. The U.S. federal weekly slaughter for the Memorial Day shortened week was estimated at 1.82 million, down from 2.069 million the previous week.
BISON STEADY The Canadian Bison Association said Grade A bulls in the desirable weight range were $3.65-$3.90 per lb. hot hanging weight. Grade A heifers were $3.60-$3.90. Slaughter cows and bulls averaged $2.40-$2.60. In the live market, heif-
LIGHT LAMBS LOWER Beaver Hill Auction in Tofield, Alta., reported 519 sheep and 273 goats sold May 28. Wool lambs lighter than 70 lb. were $225-$255 per cwt., 70 to 85 lb. were $209-$235, 86 to 105 lb. were $170$200 and 106 lb. and heavier were $145-$169. Wool rams were $50-$70 per cwt. Cull ewes were $52-$66 and bred ewes were $250-$320 per head. Hair lambs lighter than 70 lb. were $210-$250 per cwt., 70 to 85 lb. were $200-$225, 86 to 105 lb. were $170$200 and 106 lb. and heavier were $140-$168. Hair rams were $72-$84 per cwt. Cull ewes were $64-$79. Good kid goats lighter than 50 lb. were $225-$260. Those heavier than 50 lb. were $225$255 per cwt. Nannies were $70-$95 per cwt. Billies were $90-$147.50. Ontario Stockyards Inc. reported light lambs sold $3 to $5 cwt May 28. lower. Heavy lambs, sheep and goats traded at steady prices.
Argentine farm strike won’t slow exports BUENOS AIRES, Argentina (Reuters) — Truck traffic into Argentina’s main grain port of Rosario was normal on June 4, but a sales freeze called by farmers protesting a tax hike in the country’s top farm province slowed business at No. 2 port Bahia Blanca. Growers in Buenos Aires province called a nine-day strike on the weekend over a property tax increase, raising concern among exporters. With most of this year’s crops harvested, exporters have enough deals signed with farmers to see them through the sales strike without slowing exports, said Oscar Solis, Argentina’s sub-secretary of agriculture. Farm groups were to meet this week to decide whether to widen the strike to other provinces in solidarity with Buenos Aires growers upset about governor Daniel Scioli’s decision to base tax rates on recently updated property values. Growers say the tax increase will hurt profits and force some farmers to sell their fields.
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