Butcher cattle prices have held strength at cattle auctions scattered across Manitoba, due to low numbers at auction and steady demand.
“The butcher market remains fully steady, with stable demand supporting prices,” commented Harold Unrau of Grunthal Livestock Auction Mart.
During the week ended July 30, Grunthal and Winnipeg held auctions, servicing approximately 300 cattle. During the week prior, 662 cattle headed to the ring at three auctions across the province.
This week, prices for butcher cattle were between $70 and $90 per hundredweight, which compares to last week when butcher cattle prices were between $70 and $92.
Unrau expected butcher cattle prices to maintain strength into the fall run.
South of the border, United States live cattle futures finished higher for the third straight day on July 30, due to strong export demand. According to recent data from the United States Department of Agriculture (USDA), beef exports totalled 29,500 tonnes during the week ended July 23, which was a marketing-year high and an 81 per cent increase from the prior four-week average. Chicago Mercantile Exchange (CME) August live cattle futures finished at US$101.725 per hundredweight.