Fed cattle prices jump
Fed cattle prices rose an average of $2 per hundredweight last week.
Heavier cattle were going to the U.S., but the strong basis meant there was little difference in prices between the two countries, Canfax reported.
If the Cargill labor dispute at the High River, Alta. beef slaughter plant is settled soon, prices could rise $1 this week.
The feeder cattle market saw steady prices for light weights and higher prices on heavier animals, particularly steers. With 25 percent more animals on sale last week, the yearling run appears to have begun in dry areas
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U.S. hog packers tried to improve their margins this week by reducing kill and closing Aug. 2-4 .
That, coupled with the fact that average weight of slaughter hogs is six pounds above the five-year average, has beat back cash prices.
The Omaha cash price Aug. 1 was $57.50, down $1 from the week before.
In Canada prices also fell. The decline was assisted by a slight rise in the Canadian dollar late in the week. Before that, the dollar had dropped one cent in the past two weeks, raising hog prices here $1.50 per cwt.
Japan announced it is cutting tariffs on pork imports in August. The impact on cash prices won’t be felt until packers have committed pork sales and their margins are back in the black.
Sheep markets
Lamb prices in central Alberta for the week ending Aug. 8: Slaughter lambs railgrade $1.80-$1.90, live lambs 90-110 lb. 93-95 cents a lb., 110 lb. and up 90-93 cents a lb. Slaughter sheep live 30-32 cents a lb.
