Fed markets falter
SASKATOON (Staff) – The number of cattle on offer recovered after the holiday-shortened Easter week, Canfax reported. Prices, however, didn’t.
About 21,000 head of fed cattle were put on the Alberta market last week, (including Apr. 13). Local packers had no trouble finding the cattle they needed with that number on the market, but were picky with bids and animals. Despite the higher loonie, American buyers picked up several loads of cattle. Eastern Canadian buyers were also in the market.
On April 20, steers were bid between $81.25-$83.55 while heifers were priced between $79.75-$83.30.
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In the U.S. markets, cash prices had strengthened by the end of the week, with feedlots on the Southern Plains holding passing packers bids of $66 (U.S.) per cwt.
The stronger cash market helped a late-week rally in the live cattle futures contract in Chicago.
The quarterly cattle-on-feed report released by the U.S. department of agriculture didn’t surprise the market. While the number of cattle on feed from January to March was about even with 1994 just over 10.6 million head, the number put into feedlots was 10 percent higher at not quite six million head.
High hog numbers
Saskatchewan Pork International said heavy deliveries throughout the Prairies after the Easter holiday pressured prices.
Saskatchewan marketing nearly topped 24,000 head, sending the average pooled price down by $2.30 to $124.20 per hundred kilograms.
Manitoba marketings jumped by 8,000 head to 41,404 – sending prices down by $3.56 per ckg to $124.03.
Alberta send 5,000 more head to market, for a price of $125.30, down $3.10 per ckg.
