Hogs drift lower
U.S. hog prices weakened again , but the decline was less than the previous week when values dropped in the face of looming supply increase.
The downside of the market is limited by still strong U.S. pork exports. The volume of January pork exports was up 21 percent from a year ago.
The U.S. national live price average for barrows and gilts was US$52.52 per cwt. March 10, down from $53.57 March 3.
U.S. hogs averaged $66.33 on a carcass basis March 10, down from $67.38 March 3.
The U.S. pork cutout was $81.88 per cwt. March 10, up from $80.63 March 3.
The estimated U.S. weekly slaughter for the week to March 11 was 2.313 million, up from 2.311 million the previous week.
Slaughter was 2.237 million last year at the same time.
In Canada the March 11 Signature Five price was C$171.47 per 100 kilograms, down from $171.69 the previous week. The price was $77.78 on a per hundredweight basis, down slightly from $77.88 the previous week.
The Canadian Bison Association said Grade A bulls in the desirable weight range sold at prices up to C$6.25–$6.50 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-$6.30. U.S. buyers are offering US$4.40.
Animals outside the desirable buyer specifications may be discounted.
Ontario Stockyards Inc. reported that 657 sheep and lambs and 42 goats traded March 6. All classes of lambs and goats sold steady. Sheep traded steady to slightly lower.