Cattle prices coming back
SASKATOON (Staff) – After a month of declines, slaughter cattle prices in the U.S. made an abrupt turn for the better, in some cases climbing back above $70 per hundredweight.
The strength in the American market also propelled Canadian prices higher, Canfax said in its weekly report. In fact, U.S. buyers proved to be strong competition for local bidders in Alberta. Of the 16,000 head of cattle on offer this past week – down about 20 percent from the last week of March – most headed to Washington, Idaho, Colorado, Nebraska and Utah.
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Part of the reason the American buyers were so competitive is a widening Alberta basis, Canfax said. While prices out of Southern Plains feedlots were up by as much as $4 (U.S.) per cwt., Canadian steer prices were up by $1-$2 at best.
Trade on April 6 saw steers priced between $84.50-$87.25 and heifers at $82.75-$85.50.
Slaughter cow prices were up by $1-$2 per cwt. this past week, riding the strength in the fed market. Canfax said these prices should hold and likely increase as April’s seasonal upswing kicks in. D1 and D2 cows traded from $50-$59 per cwt., with top prices paid to $61. Railgrade bids ranged from $100-$112 per cwt.
Hogs prices lower
More than $10 per hundred kilograms has come off hog prices since they hit 1995 highs in March, according to Saskatchewan Pork International.
Average pool prices were down by $5.10 per ckg in Saskatchewan, $4.19 in Manitoba and $5.80 in Alberta.
