Lower pork prices and ample supply pressured U.S. hog cash prices lower.
The Chicago hog futures market also fell. Funds sold as the price fell below a couple of technically important levels. Funds appear to be reversing the previous trend of betting that hog prices could rise and that cattle would fall.
Iowa-southern Minnesota hogs delivered to plants were about $84 US per hundredweight May 2, down from $87 April 25.
The U.S. pork cutout fell to $113.97 per cwt. May 2, down from $116.13 April 25.
U.S. estimated weekly slaughter for the week to May 3 was 2.019 million, up from 1.999 million the previous week. It was 2.091 million last year at the same time.
The Canadian Bison Association said finished bison prices remained stable with fewer than expected finished animals coming to market.
Grade A bulls in the desirable weight range reached a high of $4 Cdn per lb. hot hanging weight. Grade A heifers sold at prices up to $3.85.
Cull cows and bulls sold as high as $2.50 per lb. hot hanging weight in limited trade.
Animals outside the desirable buyer specifications may be discounted.
Lambs ease lower
Beaver Hill Auction in Tofield, Alta., reported that 326 sheep and 76 goats sold April 28.
Wool lambs lighter than 54 lb. were $160-$190 per cwt., 55-69 lb. were $175-$215, 70-85 lb. were $170-$210, 86-105 lb. were $150-$170 and 106 lb. and heavier were $144-$158.
Wool rams were $46-$96 per cwt. Cull ewes were $40-$82 and bred ewes were $130-$160 per head.
Hair lambs lighter than 54 lb. were $145-$160 per cwt., 55-69 lb. were $165-$215, 70-85 lb. were $150-$192, 86-105 lb. were $145-$158 and 106 lb. and heavier were $140-$149.
Hair rams were $46-$93 per cwt. Cull ewes were $42-$70 and ewe-lamb families were $150-$200 per unit.
Feeder kids lighter than 60 lb. were $195-$225. Good kid goats lighter than 70 lb. were $210-$240. Those heavier than 70 lb. were $210-$250 per cwt.
Nannies were $65-$110 per cwt. Billies were $85-$137.50.
Ontario Stockyards Inc. reported 2,447 sheep and lambs and 52 goats traded April 28. New crops sold under pressure from last week’s high. All heavy lambs sold actively at slightly lower prices.
Sheep traded barely steady. Good kid goats sold in premium ranges.