Cattle prices in a fall
Fed cattle prices slipped last week as wholesale beef prices fell and packers lowered bids.
In Alberta, average prices were about $2 per hundredweight lower than the previous week.
On May 14, Alberta prices were steers $85.85-$87.50 per cwt. and heifers $84.25-$88.
Some were sold to American buyers, including some contracted animals.
Wholesale beef prices will be affected by how much moves on the Victoria Day and U.S. Memorial Day long weekends.
Canfax said cattle weights are still higher than desirable and a plentiful supply of cattle will rein in prices offsetting the effect of the weak dollar. Look for prices to be steady with the lows of last week.
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Slaughter cow prices were steady and some markets reported heavier than normal movement because of dry pastures.
The feeder market saw steady prices last week. Canfax said if dryness continues, feeders in Alberta and western Saskatchewan will start to move cattle to feedlots early. For now though, prices should remain steady.
The stock cow market saw a few bred cows trade at $850-$950 , bred heifers sold at $600-$850 and cow-calf pairs were $950-$1,200.
Pork popular in the store
Strong retail demand supported hog prices last week.
June hog futures climbed to five-month highs at the Chicago Mercantile Exchange. Even though hog production is high, supplies are a little tighter than expected.
Manitoba Agriculture noted average market weights decreased by 2.2 lb. from the previous week.
In Canada, prices rose about $4 per 100 kg over the previous Friday.
