Holidays spark demand
Fed cattle prices traded $2-$3 per hundredweight higher last week thanks to strong local demand and higher U.S. prices leading up to the Canada Day and July 4 holidays.
The range June 19 was steers $82.60-$83.85 per cwt. and heifers $80.60-$83.65.
Canfax predicts a steady market this week. It said feedlots have the upper hand at the moment and won’t flood the market with supply that would depress prices.
Wholesale beef prices have not reflected the increase in cash cattle markets and packer margins in Canada have been in the red.
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If retailers push beef after the holidays, then fed cattle prices should hold into July. If not, look for a dropping market.
The feeder cattle market saw steady prices last week and lower sales volume.
The outlook is for steady prices as the sale number continues to drop as farmers get busy with summer work.
Hog prices steady
Canadian hog prices were steady last week while U.S. prices rose in step with wholesale pork prices. Omaha’s price June 20 was $59 U.S. per cwt.
Railgrade slaughter lamb prices in central Alberta fell 25 cents a pound to $2.30 last week.
The liveweight price was down about 15 cents to $1.15-$1.17 per lb. for lambs 90-110 lb. and $1.12-$1.15 per lb. for 110 lb. and up.
Slaughter sheep were 30-32 cents per lb. Goats were 85-90 cents a lb. for 50-60 lb. kids and 75-85 cents per lb for kids 60-90 lb.
Billies and nannies were 25-30 cents per lb.
