Canada: Feeder market on soft slope

Compared to last week, western Canadian yearling prices were steady to $2 lower on average while calves traded steady to as much as $4 lower in certain regions; calves under 550 pounds were quoted $3-$6 below week-ago levels. Barley and wheat prices continue to percolate higher, causing a defensive sentiment amongst buyers. Southern Alberta and parts of central Alberta were contending with adverse pen conditions last week which caused buyers to shy away from the lighter weight categories. Feedlot operators were also focusing on local cattle with some large presort sales in the major feeding regions. Flesh conditions on calves appear to be increasing at this time of year despite limited forage supply. Cow-calf operators are facing historically high forage prices and liquidating calves sooner than normal. Compared to other years, buyers report there are more calves under 550 lbs. on offer. The farmer-cattle producer is on the sideline as the market is experiencing consequences of ...