American markets outpaced Canada
SASKATOON (Staff) – Canadian slaughter cattle markets had a hard time keeping pace with their American cousins last week.
Prices in the Texas Panhandle, Oklahoma, Kansas and Nebraska were up by as much as $3 per hundredweight, spurred by enormous sales.
The week started out slow, but an avalanche of animals traded on Tuesday.
Sales were up all over. Texas and Oklahoma feedlots sold nearly 125,000 head for the week; Kansas lots sold nearly 95,000 head and Nebraska just over 86,000 head.
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Canfax reported sales out of Alberta at a respectable 17,000 head but price action was more restrained than in the U.S. – up by a dollar per cwt. on Tuesday, down by the same amount on Wednesday, but back up again on Thursday.
Overall, the average for the last week of April were equal to the previous week.
On April 27, prices of steers were between $82.50-$85.05, while heifers were $80.75-$82.25.
While the slaughter steer and heifer markets were steady last week, the cow market suffered. Prices opened steady, but by midweek lower boneless beef prices in eastern Canada pressured prices. Live cow trade was down $2-$3 per cwt., while cows on the rail were hanging up at prices $5 per cwt. lower.
Hogs keep dropping
Hog prices were lower last week, marking the sixth consecutive week producers have had to take a lower prices. Saskatchewan Pork International said provincial prices have lost $17 per hundred kilograms in this latest downturn.
Saskatchewan’s average price was $121.10 per ckg; Alberta’s 123.10 and Manitoba’s $121.14.
