For the week ending March 29, Western Canadian feeder cattle markets traded $5/cwt lower to $5/cwt higher compared to seven days earlier. The price structure was largely determined by the crowd’s mindset regarding potential U.S. tariffs.
Lower flesh replacements over 800 pounds were well bid. Quality genetic packages of grassers were also red hot as calf numbers were harder to come by last week. Some finishing feedlots were securing ownership of calves under 600 pounds in anticipation of tighter yearling numbers come August.
In central Saskatchewan, a pen sized group of medium to larger frame Charolais based steers weighing just over 1,000 pounds were valued at $360 fob farm. South of Edmonton, a smaller package of Charolais cross steers weighing 940 pounds on silage and light grain diet with full processing records apparently sold for $369. In the Saskatoon region, black mixed heifers with a mean weight of 900 pounds on silage and light grain, (including pellets) ration with fleshier conditions on about the half the group supposedly traded for $340 fob farm.
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Northwest of Winnipeg, medium to larger frame Angus based steers carrying light butter averaging just over 700 pounds traded for $451. At the same sale, larger frame, thinner, red mixed heifers evaluated at 730 pounds reportedly moved through the ring at $384.
Southeast of Saskatoon, larger frame Charolais steers weighing 620 pounds were valued at $510. In central Alberta, red mixed, thinner, weaned steers with a mean weight of 615 pounds on silage and supplement diet with full preconditioning apparently sold for $495. North of Calgary, red mixed, weaned heifers on light barley and silage diet with full processing data averaging 640 pounds apparently sold for $436.
At the Killarney sale, Angus based steers weighing 505 pounds silenced the crowd at $575. At the same sale, similar quality heifers scaled at 517 pounds moved at $480. At the Westlock sale, a handful of Limousin red Angus cross steers on hay and barley diet with vaccination records averaging 507 pounds traded for $552. There appeared to be Ontario demand from Yorkton east resulting in minor premium on certain packages.
Alberta packers were buying fed cattle on a dressed basis in the range of $455-$460/cwt delivered, up $5/cwt from last week. On a live basis, this equates to 273-$276/cwt delivered. U.S. packers were buying live cattle on live basis in southern Alberta in the range of $285-$292 fob feedlot. U.S purchases were requiring that cattle had to be shipped to the U.S. by April 1. The premium was fairly significant which encouraged sales.
Break-even fed cattle prices for March on a live basis are in the range of $255-$260/cwt. Packers on both sides of the border are factoring in U.S. tariffs while the Canadian feedlot operators are carrying on with business as normal.
