Compared to last week, Western Canadian yearling prices traded $3 to $4 on either side of side of unchanged while calves traded $5 lower to as much as $6 higher. The calf market tends to experience a seasonal bounce every November. In certain cases, buyers appeared to step forward more aggressively last week in anticipation of stronger prices later in fall.
Heavier calves with quality genetics were in higher demand in Alberta; however, in Manitoba, heavier calves experienced a softer tone. Across the prairies, smaller packages and singles were discounted from average values. Weaned calves were also well bid compared to groups straight off their mothers. Feedlots want to purchase a full pen of pre-conditioned, uniform, weaned calves and their willing to pay premiums for these quality packages.
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There have been intermittent rains in Southern Alberta and snow in Southern Saskatchewan. This appeared to enhance buying interest for vaccinated replacements. Freight spreads appeared to widen from Saskatchewan and B.C. to the main feeding regions of Southern Alberta. Truck availability remains tight and the adverse rains and snow resulted in a transportation risk discount. Ontario demand lifted values in Manitoba in the lighter weight categories. U.S. interest has subsided for the time being.
In Northwest Saskatchewan, a larger group of 950-pound mixed steers straight off grass sold for $227. In Central Alberta, mixed heifers coming off pasture weighing 984 pounds were valued at $203. In Central Saskatchewan, tan steers on grass diet weighing 872 pounds silenced the crowd at $233. Near Lethbridge, Charolais heifers weighing 885 pounds coming off pasture were valued at $201. Northwest of Winnipeg, black Angus based steer averaging 865 pounds dropped the gavel at $239 and similar quality heifers weighing a shade under 900 pounds charted course at $215.
In East Central Alberta, a larger group of black Limousin blended, weaned steers with health records weighing 650 pounds were valued at $255; south of Edmonton, a smaller group of weaned red Angus heifers with full health data notched the board at $207. In Central Saskatchewan, Simmental steers straight off their mothers weighing 550 pounds sold for $266 and black heifers weighing 550 pounds were quoted at $226. North of Brandon, Charolais based steers weighing 464 pounds reached up to $335 and similar quality heifers weighing just over 400 pounds were bid up to $270.
The backlog of market ready fed cattle supplies in Southern Alberta is slowly being alleviated. Alberta packers were offering attractive basis levels for April May and June of 2023. Despite the higher feed grain values, feeding margins look profitable in the deferred months which is underpinning the nearby feeder market.
