For the week ending October 11, Western Canadian yearling markets traded $8/cwt higher to $5/cwt lower compared to seven days earlier. Calf prices experienced a week-over-week decline of $3-$8/cwt on average. Feather-light calves under 450 pounds were steady to $10 higher on average.
The Canadian cash feeder market appeared to divorce from the feeder cattle futures which jumped US$20/cwt during the week.
Supplies of yearlings off grass are limited at this time of year and feedlots paid premiums to secure ownership. At the Lloydminster sale, a smaller package of Charolais yearling steers averaging 940 pounds sold for $490/cwt. At the Ste Rose sale in Manitoba, a smaller package of mixed yearling steers weighing 901 pounds traded for $504/cwt. The TEAM market report had a group of 60 heifers off pasture with a mean weight of 1,000 pounds with full health data and implants selling for $433/cwt fob ranch near Drayton Valley.
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The VJV market report from Ponoka had a group of 25 mixed, medium frame, yearling steers straight off grass evaluated at 840 pounds priced at $522/cwt. A rancher northwest of Calgary reported at larger package of Angus cross heifers off pasture and mineral supplement with full processing data weighing 830 were valued at $492/cwt fob ranch.
At the Ste Rose Auction Mart in Manitoba, a smaller package of mixed steer calves averaging 718 pounds traded for $581/cwt. The Killarney market report had a 28 red and black heifers weighing 746 pounds priced at $517.
At the Prince, Alberta ring sale, a group of 45 black steer calves marked at 602 pounds were valued at $646/cwt. The TEAM market report had a group of 50 black and red heifers off their mothers and grass averaging 630 pounds selling for $550/cwt fob ranch near Drumheller with delivery set for October 22.
At the Rimbey sale, a handful of mixed steers averaging 521 pounds with full processing data coming straight off their mothers sold for $704/cwt. At the same sale, a pair of red steers evaluated at 442 pounds settled at $740 and a 5-pack of mixed steers weighing 382 pounds were last bid at $825/cwt. At the Killarney sale, a small package of black steers weighing 475 pounds traded for $779/cwt and a group of 11 heifers averaging 370 pounds sold for $740/cwt.
On Thursday, October 9, Alberta packers were buying fed cattle on a dressed basis in the range of $507-$508/cwt, steady to $8/cwt lower than a week earlier. Fob feedlot bids on a live basis in Southern Alberta were reported at $305-$306/cwt.
The weaker fed market was a major factor contributing to softer feeder cattle prices. U.S. and Canadian packers appear to be well covered for their nearby requirements. Despite the rally in the futures market, the packers were not buying many cattle last week.
