Hog prices weaker
Falling U.S. pork prices pressured rail grade hog prices lower.
Wholesale pork demand is tepid, but traders expect things might pick up as the May long weekends in Canada and the United States approach.
Nearby hog futures prices fell with the cash market, but the deferred months were supported by thoughts that porcine epidemic diarrhea will reduce supplies in the future.
Iowa-southern Minnesota live hogs delivered to plants were about $84 US per cwt. May 9, steady with May 2.
On a carcass basis, Midwest hogs fell to $107.47 per cwt. from $110.17 May 2.
The U.S. pork cutout fell to $111.73 per cwt. on May 9, down from $113.97 May 2.
U.S. estimated weekly slaughter for the week to May 10 was 2.016 million, down from 2.019 million the previous week. Slaughter was 2.084 million last year at the same time.
The Canadian Bison Association said finished bison prices remained stable with fewer than expected finished animals going to market.
Grade A bulls in the desirable weight range reached a high of $4 Cdn per pound 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.
Sheep, lambs lower
Ontario Stockyards Inc. reported 2,204 sheep and lambs and eight goats traded May 5. New crops sold under pressure at prices $8-$10 cwt. lower with good heavy lambs selling $5-$8 cwt. lower. Sheep were $3-$5 cwt. lower. Goats were steady.