Hogs drift lower
U.S. cash hog prices sagged a little over the week, while Chicago hog futures continued to tumble to almost a two-year low.
Hog supply is better than expected as herds recover from the porcine epidemic diarrhea outbreak.
Slaughter last week was larger than a year ago, and carcasses were about four percent heavier.
Investment funds that are rebalancing portfolios for a new year are shifting money out of hogs futures.
Below normal temperatures in the United States interfered with hog transportation, but that had little effect on prices.
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Iowa-southern Minnesota hogs delivered were US$56 per hundredweight Jan. 9, down from $56.50-$57 Jan. 2.
U.S. hogs averaged $71.80 on a carcass basis Jan. 9, down from $74.72 Jan. 2.
The U.S. pork cutout rose to $83.96 per cwt. Jan. 9, up from $83.32 Jan. 2.
The estimated U.S. weekly slaughter for the week to Jan. 10 was 2.163 million, up from 1.998 million the previous week. Slaughter was 2.089 million last year at the same time.
Bison price still good
The Canadian Bison Association said finished bison prices were down a little from before Christmas. Grade A bulls in the desirable weight range were as high as C$4.30 per lb. hot hanging weight. Grade A heifers sold up to $4.15.
U.S. buyers are offering US$4 for bulls and $3.85 for heifers with returns dependent on exchange rates, quality and export costs.
Animals outside the desirable buyer specifications may be discounted.
Sheep stronger
Ontario Stockyards Inc. reported that 774 sheep and lambs and 68 goats traded Jan. 5. All classes of sheep and lambs sold higher. Goats traded steady to stronger.
