Klassen: Feeder market slips off record highs

For the week ending September 20, Western Canadian feeder markets traded regular to $5/cwt decrease in comparison with seven days earlier. There have been pockets the place high quality calf packages traded $10-$15/cwt under costs from the prior week. The October feeder cattle futures have been buying and selling at $15/cwt premium to the deferred March 2026 contract.

This inverse within the feeder futures market appeared to weigh on calf costs because the market construction tells feedlot operators to be affected person on purchases. Public sale market studies had bigger volumes of calves this previous week and the extra provide additionally contributed to softer demand. Ontario shopping for curiosity seemed to be restricted this previous week leading to a softer tone in Manitoba and Jap Saskatchewan.

The Ponoka Market Report had combined yearling steers straight off grass on video weighing 1,066 kilos with full processing information buying and selling for $454/cwt fob ranch. The TEAM Video Public sale Report had a gaggle of combined yearling steers (together with Charolais cross and Black/Pink Angus) off grass with full processing information together with implants averaging 950 kilos final bid at $483/cwt for supply September 30 fob ranch close to Veteran Alberta. The Ste. Rose du Lac Public sale in Manitoba had a small bundle of Charolais yearling steers averaging 944 kilos buying and selling for $462/cwt on the ring.

On the Killarney, Manitoba public sale, a smaller bundle of black yearling steers evaluated at 843 kilos off grass offered for $506/cwt. On the similar sale, a seven-pack of Simmental blended yearling heifers averaging 864 kilos settled at $491/cwt.

The Lloydminster Market report (ring sale) had a smaller bundle of red-mixed, short-weaned, steer calves scaled at 704 kilos notching the board at $593/cwt. On the similar sale, a handful of crimson heifer calves averaging 709 kilos settled at $520/cwt.

The Workforce video market report had a gaggle of Charolais steers weighing 650 kilos with full processing information and implants off moms milk and grass traded for $651/cwt fob Image Butte supply for October 30. The identical video sale reported a gaggle of fifty medium body crimson heifers evaluated at 630 kilos with full veterinary information however no implants off moms and grass shifting at $641/cwt fob ranch close to Fort Macleod deliverable the week of October twentieth.

The Meadow Lake Public sale Market report had a gaggle of black steers weighing 596 kilos buying and selling for $671/cwt and a pair of tan steers averaging 501 kilos promoting for $770/cwt.

Alberta packers have been shopping for fed cattle on a dressed foundation within the vary of $520-$525/cwt delivered, regular to $2/cwt decrease than final week. Utilizing a 60 per cent grading, this equates to a stay value of $312-$315/cwt delivered.

Break-even pen closeouts are within the vary of $285-$295/cwt fob feedlot. For March and April, break-even pen closeouts based mostly on this week’s substitute values are within the vary of $360-$365/cwt on a stay foundation (all prices included). The April stay cattle futures are reflecting a fed cattle stay value of solely $326/cwt. Incoming replacements are deep in crimson ink.

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