U.S. hog cash prices fell hard last week because traders expect larger market-ready numbers are coming down the pipeline.
Cut-out values were volatile as pork belly values swung widely.
The overhyped story a few weeks ago about bacon shortages might have pushed pork prices too high, and now they are correcting.
The Canadian dollar dropped sharply last week, helping to support Canadian hog prices, but the market still fell.
The U.S. national live price average for barrows and gilts was US$53.57 per cwt. March 3, down from $54.42 Feb. 24.
U.S. hogs averaged $67.38 on a carcass basis March 3, down from $68.56 Feb. 24.
The U.S. pork cutout was $80.63 per cwt. March 3, down from $81.91 Feb. 24.
The estimated U.S. weekly slaughter for the week to March 4 was 2.311 million, up from 2.268 million the previous week.
Slaughter was 2.224 million last year at the same time.
In Canada, the March 3 Signature Five price was C$171.69 per 100 kilograms, down from $178.06 the previous week.
On a per hundredweight basis, the price was $77.88 down from $80.77 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.
Beaver Hill Auction in Tofield, Alta., reported that 571 sheep and 298 goats sold Feb. 27.
Wool lambs lighter than 54 lb. were $230-$260 per cwt., 55-69 lb. were $235-$253, 70-85 lb. were $230-248, 86-105 lb. were $200-$230 and 106 lb. and heavier were $188-$195.
Wool rams were $116-$130 per cwt. Cull ewes were $103-$140.
Hair lambs lighter than 54 lb. were $210-$249 per cwt., 55-69 lb. were $236-$253, 70-85 lb. were $220-$240, 86-105 lb. were $190-$220 and 106 lb. and heavier were $182-$189.
Hair rams were $109-$167 per cwt. Cull ewes were $112-$175.
Ontario Stockyards Inc. reported that 467 sheep and lambs and 14 goats traded Feb. 27. A light run of sheep, lambs and goats sold steady to stronger.