Cattle market strengthens
SASKATOON (Staff) – The falling dollar continued to help cattle markets strengthen last week. Canfax reported Alberta slaughter cattle prices increased by an average of $1.50 per cwt. for steers and $1.25 per cwt. for heifers. Volumes were up by about six percent to nearly 15,000 head. Bidding was active, Canfax said, with both local plants and American buyers in the fray. Handyweight (1,250-lb.) cattle received the best bids. Steers were priced between $92.75-$96.75, while heifers were $93-$96.35.
On the wholesale side, buying was brisk. Buyers were looking to put some inventory away in anticipation of tightening beef supplies and likely higher prices, during February.
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Canadian prices also got a boost from increasing cash prices in the major feedlot areas in the U.S. Bids last week reached $74 (U.S.) per cwt.
The feeder cattle market saw larger numbers traded – about 25,000 head in Alberta; 6,900 in Saskatchewan and 3,200 in Manitoba. Calves that were held over from the fall, waiting for better prices, are now being sold, Canfax said.
Hog prices keep rising
North American hog prices were driven higher last week as lower hog kills pushed packers to bid aggressively for available supplies.
The Index 100 pool price in Saskatchewan was up by $5.90 per ckg, for an average of $137.10. Alberta’s price was up by $6.50, for an average of $137.30 while Manitoba’s price climbed by $5.86 to $138.31 per ckg. Marketings in Saskatchewan and Manitoba were off by 1,000 head, while Alberta numbers were off by 3,000 head.
