For the week ending March 7, Western Canadian feeder cattle markets traded $5-$10/cwt lower compared to seven days earlier. The market held value on Monday and Tuesday but then softened in the latter part of the week.
Strength in the feed grains complex along with weaker deferred live cattle futures set a negative tone. Feedlot operators exhibited a cautious tone as feeding margins are in deep in red ink for late March and April.
More beef cattle coverage: JBS workers to strike at U.S. beef plant as consumers face record prices
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JBS workers to strike at U.S. beef plant as consumers face record prices
About 3,800 JBS meatpacking workers in Greeley, Colorado, plan to go on strike starting on March 16, the workers’ union said on Monday, crippling production at one of the largest U.S. beef plants as consumers face record-high prices.
Alberta packers were buying fed cattle on a dressed basis in the range of $535-$539/cwt delivered, up $4-$5 from last week. Using a 60 per cent grading, live prices would equate to $321-$323/cwt delivered. Southern Alberta breakeven pen closeout values average $340/cwt for March.
At the Ponoka sale, a group of black mixed steers averaging 1,022 pounds on a diet of 14 per cent barley, three per cent canola meal and silage with full processing records, including implants sold for $458/cwt. The Lloydminster market report had a group of 41 Simmental based steers weighing 920 pounds that silenced the crowd at $484/cwt.
Northeast of Calgary, a pen-sized group of medium to larger frame Charolais cross heifers weighing 875 pounds on light grain and silage diet with full health data and implants were valued at $455/cwt fob farm.
The Ste Rose Auction Mart report included a group of 21 Charolais steers with a mean weight of 816 pounds traded for $529/cwt.
A cattle producer in the Saskatoon region reported a group Angus cross steers weighing just over 700 pounds on light grain, silage and mineral diet that were valued at $610/cwt fob farm. At the Westlock sale, a group of Simmental based, weaned heifers on the full herd health program coming off hay and silage diet averaging 700 pounds dropped the gavel at $540/cwt.
In central Alberta, a cattle producer reported at group of medium to larger frame red mixed steers averaging just over 600 pounds on silage, mineral supplement that notched the board at $692/cwt. The Lloydminster market report included a smaller package of 44 mixed heifers scaled at 608 pounds that exited the ring at $598/cwt.
Find daily livestock futures coverage at the Western Producer markets desk.
The Vermillion market report included 10 exotic steers averaging 552 pounds that sold for $738 and a pair of tan steers weighing 482 pounds that traded for $810/cwt. The Killarney market report had a smaller package of red heifers weighing 526 pounds that were valued at $660 and a three-pack of black heifers averaging 466 pounds priced at $697/cwt.
U.S. and Canadian equity markets dropped sharply this past week. Cattle producers are concerned that higher energy prices will slow economic growth and enhance inflationary pressures thereby reducing beef demand.
