CASH PRESSURES FUTURES
Lower cash hog prices generated profit taking, pushing nearby CME hogs to a four-month low.
The industry is seeing a seasonal increase in hog numbers, which is limiting packer demand for supplies, said Archer Financial Services broker Dennis Smith. Retailers were not yet stocking up for Labour Day grilling.
Iowa-southern Minnesota hogs traded steady to weak at about $72.50 to $73 per hundredweight delivered to packing plants Aug. 16, while they traded at $74 Aug. 9.
The estimated pork cut-out value was $103.74 Aug.16, down from $105.50 Aug.9.
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Estimated weekly U.S. slaughter in the week to Aug. 16 was 2.107 million up from 1.998 million the previous week, while 2.095 million were slaughtered the same period last year.
GOATS AND SHEEP STEADY
Beaver Hill Auction in Tofield, Alta., reported 869 sheep and 169 goats sold Aug. 12.
Ontario Stockyards Inc. reported 1,897 sheep and lambs and 74 goats traded Aug. 12. All well-fed lambs sold steady. Plainer and under-finished lambs sold under pressure. Good sheep sold $5 to $7 lower. Goats sold steady.
Bison prices
The Canadian Bison Association said Grade A bulls in the desirable weight range averaged $3.50 Cdn per pound hot hanging weight with sales to $3.70. Grade A heifers sold at $3.45 with some sales to $3.55.
Animals older than 30 months and those outside the desirable buyer specifications may be discounted.
