Markets in the United States faltered this week. While prices hit a high two weeks ago, this week they settled $7–$8 lower than last week. Unsurprisingly for the time of year, packers have cut kills this week, but that wasn’t enough to support the choice cutout, which dropped $6.50.
While the U.S. experienced reduced prices, the Alberta fat cattle market held steady this week, reports Anne Wasko of Gateway Livestock Exchange in this episode of Beef Market Update. While the basis is still weak, Wasko says that it has narrowed and that is a good thing for Canadian producers.
Steer carcass weights in Canada are down substantially from last year at this time. Wasko says that this could be partly due to the cold snap that has been occurring throughout Western Canada, specifically in the cattle-feeding areas of the country.
Wasko and Haney also discuss the abundance of data that has come in recently through the 2024 Feeder Cattle Imports and StatsCan. Some of the key highlights include last year’s record net import of Canadian feeder cattle, the highest beef import levels since 2013, and a decline in December retail beef prices from November.
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