In this file:
· Feeders Resolve Keeps Market Higher
· Klassen: Feeder market searching for direction
Feeders Resolve Keeps Market Higher
Brad Hulett, Drovers
December 3, 2018
Feeders delayed trade until late Friday holding their position to continue pushing the upward momentum in the market. The South traded at $118, with a few late trades at $118.50. The North traded highest at $118.50 with a range of $116 to $118.50. Dressed cattle brought up to $185.
Higher money seems possible again this week. Feeders moved their chosen cattle, cleaning up last week’s showlist in most areas. Kill reductions in the North due to a winter storm, could make the packer hungry for cattle to make up for lost kills.
Momentum appears to be headed in a positive direction for the cash trade...
Klassen: Feeder market searching for direction
By Jerry Klassen, Manitoba Co-operator (Canada)
December 4, 2018
Western Canadian feeder cattle markets were quite variable from seven days earlier. Prices were unchanged in the eastern Prairie regions; however, Alberta markets traded $3 to as much as $7 below week-ago levels. Alberta and Saskatchewan feedlot inventories are running 16 per cent above year-ago levels, so there’s limited buying power available.
Calves are fleshier at this time of year and feedlot efficiencies are below average on late-season purchases. Weakness in August live cattle futures also weighed on nearby feeder prices. The market has little reason to strengthen under the current environment.
Quality packages of vaccinated and weaned calves carried a slight premium over regular run-of-the-mill cattle. U.S. and Ontario demand was minorly supportive in the eastern Prairie regions.
In central Alberta, tan heifers weighing 825 lbs. were quoted at $167 while Simmental-blended larger-frame fleshier steers averaging 830 lbs. were valued at $188. The price differential between the eastern and western Prairie markets become more noticeable in the lighter weight categories. For example, in Manitoba, black Limousin steers weighing just over 700 lbs. traded for $201 and Charolais mixed heifers averaging 720 lbs. dropped the gavel at $191. In central Alberta, Charolais-blended steers averaging 690 lbs. sold for $196 and Hereford heifers averaging 710 lbs. were quoted at $165.
Medium-frame Angus mixed steers averaging 600 lbs. were valued at $213 in southern Manitoba; tan mixed steers averaging 600 lbs. were quoted at $205 landed in southern Alberta feedlot. The market is in a very precarious situation because these calves are going to be under water come March.
Alberta packers were buying fed cattle in the range of...