For the week ending May 2, Western Canadian feeder cattle markets were relatively unchanged compared to seven days earlier. The heifer discount to steers continues to narrow. Steady buying interest from Ontario was noted in Manitoba and certain locations in Saskatchewan.
Packages are smaller at this time of year. Feedlot operators are having to source from many locations to build pen-sized groups, which has contributed to wider variation in prices across the Prairies. Buyers report that some feedlot operators are on the sidelines for the time being and have withdrawn bids given the high risk condition in the market.
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At the Ste Rose Auction in Manitoba, a small package of Charolais cross steers weighing 948 pounds traded for $388. At the Ponoka sale, a smaller package of Charolais steers weighing 890 pounds dropped the gavel at $405. At the same sale, black mixed steers averaging 850 pounds on silage and limited rolled barley ration with full health records sold for $414. In Lloydminster, larger frame Simmental heifers carrying lighter butter evaluated at 850 pounds were last bid at $389.
The Dawson Creek market report had a smaller package of mixed steers averaging 740 pounds trading for $454. At the Killarney sale, medium to larger frame red steers with a mean weight of 700 pounds notched the board at $451. At the same sale, larger, wide-frame, black heifers evaluated at 708 pounds apparently silenced that crowd at $437. By the end of the week, 700 pound steers a major locations were trading at or near $500. In central Saskatchewan, there a couple smaller packages of larger frame higher genetic steers averaging around 700 pounds trading for just over $500.
In Southern Alberta, Charolais cross, weaned, preconditioned steers weighing just over 600 pounds were valued at $550. The Lloydminster market report had Charolais heifers averaging 600 pounds trading for $505.
East of Calgary, black Limousin based steers weighing just over 500 pounds apparently sold for $580. North of Calgary, a smaller package of mixed heifers scaled at 540 pounds reportedly traded for $525. The Ste Rose Auction in Manitoba had small package of black steers weighing 514 pounds marked at $634.
Alberta packers were buying fed cattle in the range of $487-$$490cwt, up $4-$7/cwt from the previous week. Using a 60 per cent grading, this equates to a live price of $292-$294/cwt. Breakeven pen closeouts are in the range of $260-$265. Profitable feeding margins continue to enhance demand for replacements. Wholesale choice beef was trading at US$345/cwt on Wednesday, April 30. This was up US$11/cwt from seven days earlier and a fresh historical high.
