Feeders popular
Feeder cattle prices rose $3 to $4 a hundredweight last week as buyers looked to fill pen space.
Sales volume was up slightly from the previous week and about equal to last year at this time.
Canfax expected demand to remain good this week, but said further price increases would be limited by firm feed grain prices and slipping slaughter cattle prices.
In the slaughter market, steers sold for $78-$80 a cwt. in Alberta all week. Most demand was from local plants.
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In the beef trade, Montreal wholesale prices were up $2 to $160/cwt, but settled back the same amount this week. Calgary prices also dropped $2 to $125-$133.
Canfax said the U.S. cattle-on-feed report expected Jan. 31 will probably show heavy placements to feedlots and more animals on feed than last year. This could cause prices to slip in February.
Hog prices volatile
Hog markets were volatile last week with prices tumbling during the week, but picking up at the end. Part of the reason was storm-stayed hogs moving to market.
The Omaha price closed Friday at $55.50 (U.S.), down 50 cents from the previous week.
A tight supply of lambs is supporting prices. Canada West Foods in Red Deer reported bids for slaughter lambs rose five cents to $2.40 a pound for railgrade. Feeder lambs 60-80 lb. were $1.10-$1.25. Slaughter ewes were 35-40 cents.
In Saskatchewan, lambs over 80 lb. were $1.15, under 80 were $1.20.
