For example, at Joplin Regional Stockyards on Monday, Jan. Secondly, feeder cattle sales early this week have already been incredibly strong and promising that buyers are indeed interested in filling their empty lots and being active in the market. But as long as cash cattle prices remain strong and cost of gains don't pressure feedlots anymore, the cow-calf and stocker/backgrounder outfits should be able to expect higher prices in 2023. Feedlot managers won't be able to roll up to shipping corrals or sit in on video auctions paying whatever the market yearns for that day, as managing their own breakeven amid such high inputs is nearly an act of God. This trickles down to benefiting the cow-calf and backgrounder/stocker sectors, as feedlots will want to keep their bunks full and ensure that they have cattle to market during this time of strong fed cattle prices. Throughout the week, the choice/select spread averaged $31.43.Īlthough the year will undoubtedly have spells when it trades lower and when packers are able to gain a foothold in the market, feedlots are expected to possess the lion's share of the market's leverage well through 2023 and likely into 2024, which should keep live cattle prices elevated. Last week, choice cuts averaged $280.07 (up $13.89 from the week before), and select cuts averaged $248.64 (up $9.43 from the week before), with a total movement of 347 loads of cuts, grinds and trim. The cash cattle market was able to advance its position over the holiday run, as boxed beef prices soared and showlists remain incredibly current. Last week, the nation's weighted average live steer price was $156.13, which is the highest price that the cash cattle market had traded throughout 2022 and the highest price the market has traded since May 2015. Now that the calendar has flipped the final page of 2022 and is embarking on a new year, what should we expect of the feeder cattle market in the early days of 2023?įor starters, we need to realize how the developments throughout the live cattle and cash cattle markets over the past couple of weeks will affect the feeder cattle complex. Most sale barns shut down until after the new year, and unless there's a drastic change in either the live cattle market or the grain complex, the feeder cattle market has very few germane factors pressuring its complex. ![]() (DTN/Progressive Farmer file photo by Jim Patrico)įrom Christmas through New Year's, the feeder cattle market gets little attention. The Cattle Market report will likely resume in August, depending on marketing activity.With fewer feeder cattle in the marketplace, cattlemen stand to see a much stronger market in 2023. D3 cows were up similarly $6.35 over the prior week, ending the week at an average of $138.25 per cwt.” The price of D2 cows increased on average 6.17 per cwt from the week prior to average $154.00 per cwt. fed prices have strengthened in 22 out of the past 23 weeks.Īccording to the report, “prices of Alberta cows reported on May 26 were up compared to May 19. She says the Canfax price for Alberta fed steers reported on May 26 was $238.26 per cwt, up $115 per cwt compared to the prior week, which was $237.11, adding. “We continue to see feeder marketings on the seasonal decline but still strong buying interest and then some feeders are heading south which is supporting the prices as well,” Froats said. ![]() Prices ranged from from $318.67 per cwt for the 300-400lb category to $230.17 per cwt for the 800+lb category. She said the average weekly prices for Alberta heifers on May 26 were down in the lower weight categories, but higher in weights above 700 pounds. In the last Cattle Market Report of the season, Froats said feeder steer prices in Alberta were mixed among the reported weight categories last Friday prices ranged from from $366.50 per hundredweight (cwt) for the 300-400lb category to $255.90 per cwt for the 900+lb weight category. However, Canfax did note a total of 4,271 head of cattle were sold in Saskatchewan last week, just down from 4,827 head the previous week. Provincial Cattle Specialist Fonda Froats says Saskatchewan feeder steer and heifer prices were unavailable due to a lack of sufficient data. That’s according to the latest Cattle Market Update from Canfax for the period of May 22-26. Alberta feeder cattle prices were strong overall last week.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |