Heifers draw better prices than steers
Feedlots began to move their backed-up supplies last week and there was good demand by packers supplying retailers that were restocking after the holidays.
Prices slipped only about 50 cents per hundredweight for steers, but held steady for heifers in unusually heavy trade for this time of year, said Canfax.
Prices Jan. 8 were steers $82.50-$84.50 per cwt. and heifers $83.75-$84.95.
Canfax said the market’s ability to maintain prices in the face of larger cattle sales will depend on how much retailers sell in mid January.
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Asian woes have lowered beef byproduct prices to $80-$87 per head, a drop of $25 from last week.
The Calgary-Omaha fed cattle spot basis narrowed to -$8.06 per cwt.
Feeder cattle prices were steady to pre-Christmas levels, but few cattle were sold.
Prices are $25-$35 per cwt. higher than this time last year. Marketings should increase this week, if it’s not too cold.
Hogs piled up, too
U.S. hog packers increased slaughter last week, biting into the holiday backlog, but the large pork supplies kept wholesale prices weak.
Omaha cash hogs were $35-$36 (U.S.) per cwt. during the week but appear to have hit bottom. SPI Marketing expects U.S. prices to pick up to about $42 this month.
In Manitoba, index 100 hog prices (including premiums) were about $123.80 per 100 kilograms most of the week.
The Saskatchewan Sheep Development Board reports slaughter lambs liveweight are $1.17 per lb. Feeder lambs are $1.26 per lb., slaughter sheep are 50 cents a lb. and goats are 65 cents a lb.
