HOGS STEADY
Cash hog prices were mostly steady, even as the Chicago hog futures market fell sharply.
Packers were preparing supplies in anticipation for the start of the spring grilling season. Packer operating margins were comfortable.
Hog futures in the deferred months fell because the trade expects that weaker corn prices will lead to more herd expansion.
Iowa-southern Minnesota hogs delivered were US$46-$47.75 per hundredweight April 1, steady from $46-$47 March 24.
U.S. hogs averaged $61.18 on a carcass basis April 1, which was down from $61.44 March 25.
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The U.S. pork cutout was $76.25 per cwt. April 1, up from $75.27 March 25.
The estimated U.S. weekly slaughter for the week to April 1 was 2,181 million, up from 2.178 million the previous week.
Slaughter was 2.190 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$6 per pound hot hanging weight. U.S. buyers are offering US$4.35 with returns dependent on exchange rates, quality and export costs.
Grade A heifers sold up to C$5.75. American buyers are offering US$4.20. Animals outside the desirable buyer specifications may be discounted.
SHEEP
Ontario Stockyards Inc. reported that 895 sheep and lambs and 27 goats traded April 1.
New crop lambs traded actively at lower prices. All other lambs and sheep sold steady. Too few goats were on offer to establish a true market price.
