The rally in hog prices that began in December might have stalled out last week.
Lower cash hogs and pork weighed down the futures market, even though the monthly pork in cold storage report came in lower than expected.
The U.S. national live price average for barrows and gilts was US$54.42 per cwt. Feb. 24, down from $56.08 Feb. 17. U.S. hogs averaged $68.56 on a carcass basis Feb. 24, down from $72.95 Feb. 17.
The U.S. pork cutout was $81.91 per cwt. Feb. 24, down from $84.65 Feb. 17.
The estimated U.S. weekly slaughter for the week to Feb. 25 was 2.28 million, down from 2.36 million the previous week.
Slaughter was 2.21 million last year at the same time.
The rally continued in Canada. The Feb. 25 Signature Five price was C$178.06 per 100 kilograms, up from $174.79 the previous week. On a per hundredweight basis, the price was $80.77, up from $79.28 the previous week.
The Canadian Bison Association said Grade A bulls in the desirable weight range sold at prices up to C$6.25 per pound hot hanging weight. U.S. buyers are offering US$4.60 with returns dependent on exchange rates, quality and export costs.
Grade A heifers sold up to C$6-$6.20. U.S. buyers are offering US$4.40.
Animals outside the desirable buyer specifications may be discounted.
Ontario Stockyards Inc. reported that 748 sheep and lambs and 43 goats traded Feb. 21. All lambs sold steady to slightly stronger.
Good lean sheep sold higher. Thick and fat types were steady. Goats sold stronger.