Hogs weaker
U.S. cash hog prices were pressured lower by increasing carcass weights and improved market-ready hog supply.
Cooler temperatures and ample newly harvested corn supply led to fast weight gain. Packers are enjoying strong profit margins.
The U.S. monthly cold storage report Oct. 22 showed total September pork inventories at 656.4 million pounds, a record high for the month.
Iowa-southern Minnesota hogs delivered were US$52.50-53 per hundredweight Oct. 23, slightly lower from $53-$53.50 Oct. 16.
U.S. hogs averaged $68 on a carcass basis Oct. 23, down from $89.31 Oct. 16. The U.S. pork cutout was $85.98 per cwt. Oct. 23, up from $68.66 Oct. 16.
Read Also
USDA’s August corn yield estimates are bearish
The yield estimates for wheat and soybeans were neutral to bullish, but these were largely a sideshow when compared with corn.
The estimated U.S. weekly slaughter for the week to Oct. 23 was 2.317 million, down from 2.318 million the previous week.
Slaughter was 2.144 million last year at the same time.
Bison steady
The Canadian Bison Association said Grade A bulls in the desirable weight range sold at prices up to C$5.35 per pound hot hanging weight. U.S. buyers are offering US$4.25 with returns dependent on exchange rates, quality and export costs.
Grade A heifers sold up to C$5.15 U.S. buyers are offering US$4.10.
Animals outside the desirable buyer specifications may be discounted.
Lambs under pressure
Beaver Hill Auction in Tofield, Alta., reported 1,943 sheep and 201 goats sold Oct 19.
Wool lambs lighter than 54 lb. were $215-$255 per cwt., 55-69 lb. were $222-$248, 70-85 lb. were $199-$229, 86-105 lb. were $185-$212 and 106 lb. and heavier were $167-$185.
Wool rams were $73-$131 per cwt. Cull ewes were $70-$118.
Hair lambs lighter than 54 lb. were $205-$225 per cwt., 55-69 lb. were $204-$232.50, 70-85 lb. were $180-$214, 86-105 lb. were $170-$189 and 106 lb. and heavier were $160-$171.
Hair rams were $82-$150 per cwt. Cull ewes were $82-$150.
Feeder kids lighter than 60 lb. were $180-$215. Good kid goats lighter than 70 lb. were $220-$255. Those heavier than 70 lb. were $220-$260 per cwt. Nannies were $80-$105 per cwt. Billies were $130-$160.
Ontario Stockyards Inc. reported that 1,628 sheep and lambs and 84 goats traded Oct 19.
Light lambs sold barely steady. Heavy lambs sold $5-$10 cwt. lower. Good sheep traded $10-$12 per cwt. lower.
Goats sold barely steady.
