| | What’s happening with the Alberta fed steer market? Jason Wood, provincial livestock market analyst with Alberta Agriculture and Forestry, breaks down the numbers.
“Overall,” says Wood, “The 2018 Alberta fed steer price has followed the historical seasonal trend with the average monthly provincial price ranging from the low $140s to the mid $160s per cwt.”
Fed steers averaged just under $150 per cwt in October, up $5 per cwt from September. “On per head basis for a 1,350 pound steer, that is just under $2,025, putting the October price over nine per cent higher than a year ago,” he adds.
Wood says that basis levels have been strong in Alberta with the Alberta/Nebraska fed steer cash to cash basis averaging over positive $3 per cwt in 2018. “That’s compared to the cash basis level of over negative $3 per cwt in 2017.”
“Basis levels have weakened in recent weeks, sitting at negative $2.90 per cwt the last week of October,” Woods adds. “However, that level is still stronger than the same week a year ago, and strong fed basis levels are a market demand signal for finished cattle.”
“Estimated price projections for Alberta fed steers currently range from the high $140s for December to the mid to high $150s for next spring,” he says.
As of the third week of October, Wood says that live Canadian cattle exports to the U.S. are down 4.2 per cent this year. “They are 29 per cent below the 5 year average, totaling just under 515,000 head.”
“Year-to-date slaughter steer, heifer and cow exports are just under 305,000 head, and that is down 19 per cent compared to last year and 29 per cent lower than the 5 year average,” he notes.
“Feeder cattle exports are just over 166,000 head, up 56 per cent compared to 2017 but 25 per cent lower than the 5 year average,” Wood says. “Slaughter bull exports are over 37,000 head, down 15 per cent compared to 2017 and 33 per cent lower than the 5 year average.”
For more information about the Alberta fed steer market, contact Jason Wood at 780-422-3122.
Contact:
Jason Wood
780-422-3122 |
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