Canfax Weekly Article | Report for the week of November 15, 2021

Last week the Canfax fed steer and heifer prices closed around $155.50/cwt, the market tone was steady with the previous week. Fed cattle prices have trended sideways for the past few months. Since the start of July fed cattle prices have ranged from $150-158/cwt. Last week dressed sales were reported from $258.50-261.50/cwt FOB lot. Most of the cattle that traded last week were being booked for the week of December 6^th delivery.

Canfax average feeder steer and heifer prices closed $2.00-2.50/cwt lower than the previous week. On the steers, the largest week over week price decline was on 600-700 lb with prices down $4/cwt. Heifers weighing from 600-900 lbs were $1/cwt lower. Western Canadian calf and feeder indices closed the week at $200.00/cwt and $186.77/cwt respectively. Alberta weekly auction volumes totaled just over 79,000 head last week. Canadian feeder cattle exports to the U.S. for the week ending October 30^th totaled 3,380 head.

Alberta D2 cows traded $0.50/cwt lower last week and live trade was reported from $55-68/cwt. D3 cows averaged $51.50/cwt. Butcher bulls traded $1/cwt lower to average $93/cwt and live trade was reported from $80-108/cwt. Canadian butcher bull exports to the U.S. for the week ending October 30^th totaled 873 head.

Bull.

• According to USDA, the all fresh beef retail price for September was reported at $7.55/lb, a new record high.
• Nebraska’s weighted average price was $1.50/cwt higher last week, and the highest since June 2017.
• In western Canada lift times for fed cattle have started to tighten.

Bear.

• AB/SK November 1^st cattle on feed inventories are larger than last year and the five-year average.
• November is usually a big cow slaughter month.
• According to the Canfax monthly trends report, steer and heifer calves placed in March and marketed on the fed cash market over the past month on average were a $341/head loss for the feedlot.

For over 50 years, Canfax has provided expert analysis of markets and trends in the ever changing North American beef industry. In this new millennium, cattlemen, feedlot managers, and agri-business professionals will continue to rely on up-to-the-minute information as an essential tool for maximizing profit in today’s beef sector. Whether your operation needs to plan for three hours or three years into the future, Canfax delivers timely, accurate information for 21st Century cattle industry professionals.

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