Cattle prices fall
The weekly fed cattle price average fell $2.50 per hundredweight last week.
Volumes offered were heavy and there were fewer bids from American packers, said Canfax.
Alberta prices April 27 were steers $97-$99 per cwt., flat rail $162.70-$164.30 and heifers $97.25-$99.20.
Prices this week are expected to be steady with the lower levels.
Canfax said slaughter numbers started to pick up following the Easter holiday and the big Alberta plants started into their Saturday kill schedule. That will put more beef on the market, but also increase fed cattle demand.
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Calgary beef wholesale prices are down about $1 per cwt. with handyweight steers in a range of $157-$175.
Canfax said the Canada-United States basis is to the point where producers will look south for selling opportunities. U.S. prices are expected to be steady in the short run due to strong beef demand.
Cows are in demand as plants look for boneless beef supplies, while quality cows are being sold for breeding.
Prices were steady with most D1, 2 cows selling from $58-$66 with some sales higher.
Canfax said the drop in the fed market didn’t hurt feeder prices. “If anything, prices were higher on good quality, a trend that is likely to continue,” it said.
Interest is especially strong for cattle to put on grass. The number sold was almost 37,000 head, up 10 percent from last year.
Numbers should drop as seeding starts. If moisture improves, fewer producers will want to take cattle off pasture.
In stock cow trade, bred cows were $700-$1,600 (good quality $1,200-$1,500.) A few bred heifers sold at $800-$1,200. Cow-calf pairs sold from $800-$1,700.
Pork demand still strong
The expected post-Easter pork market slowdown did not occur and the strong demand kept U.S. packers bidding for hogs.
Iowa-southern Minnesota hog prices (51-52 percent lean, at plant live equivalent) rose through the week. On April 28 the range was $44.50-$57.25 (U.S.) per cwt. with a mean of $52.82.
American retail pork prices were at a record high at $2.53 per pound in March, compared to $2.39 a year ago.
Manitoba Agriculture said the recent hog price surge could continue to the end of spring as long as pork demand remains strong.
The usual summer decline may depend more on the weather than on supply and demand.
The predicted hot, dry summer has some analysts concerned about higher feed costs later this year.
Conversely, if the U.S. hog herd is expanding and additional gilts are kept for breeding, the short-term shortage of slaughter hogs combined with strong pork demand could mean price strength this summer.
