Hogs edge higher
U.S. cash hogs rallied last week on big slaughter demand but prices could come under pressure this week as pork belly prices fell.
A recent stretch of rain and cool weather down the eastern seaboard is slowing grilling demand.
Iowa-southern Minnesota hogs delivered were US$50-$53.50 per hundredweight May 5, up from $49-$51.50 Apr. 28.
U.S. hogs averaged $71.27 on a carcass basis May 5, up from $69.28 Apr. 28. The U.S. pork cutout was $81.65 per cwt. May 5, down from $82.54 Apr 28.
Read Also
Strong canola exports expected to tighten supply
Canola exports will end up the third strongest in the past 10 years, according to recent Canadian Grain Commission weekly export data.
The estimated U.S. weekly slaughter for the week to May 5 was 2.214 million, up from 2.139 million the previous week.
Slaughter was 2.111 million last year at the same time.
In Canada the Signature 3 price for the week ending May 7 was C$75.51 per cwt. or $166.46 per 100 kilograms, up from the previous week’s $71.32 and $157.23.
Bison steady
The Canadian Bison Association said Grade A bulls in the desirable weight range sold at prices up to C$6.00 per pound hot hanging weight. U.S. buyers are offering US$4.45 with returns dependent on exchange rates, quality and export costs.
Grade A heifers sold up to C$5.75 U.S. buyers are offering US$4.35.
Animals outside the desirable buyer specifications may be discounted.
Sheep stronger
Ontario Stockyards Inc. reported that 568 sheep and lambs and 19 goats traded May 2.
A light run of sheep, lambs and goats sold at much higher prices.
