Hog prices take dive
SASKATOON (Staff) – Tradition played a role in livestock markets this week as the long weekend plus a tendency to bid down after Labor Day sent some prices crashing.
Hogs took a $4.50 (U.S.) beating in Omaha sending Canadian prices down and after Labor Day the trend was expected to continue.
In Alberta prices dropped from a high of $207.60 to an Aug. 30 close of $187. Saskatchewan and Manitoba saw similar drops, with Saskatchewan prices settling at $193, down from $198.50 the previous week.
Read Also
Europe holds promise for Canadian lentils
Pulse Canada is trying to help boost lentil consumption in Europe, which is already the fourth largest market.
Slaughter cattle prices held steady to lower after two weeks of rising prices. A more open range last week saw slaughter steers ranging from $83.25-$87.75. Heifers finished slightly higher than steers overall. The week began strong but fell off by mid-week partially due to lack of U.S. interest. The Americans dropped out of the market after a strong southerly movement two weeks ago, reported Canfax.
Coming weeks will see yearlings moving higher as feedlots reach their tightest supplies over the season. Yearlings traded steady to $1 higher and were expected to remain in that pattern this week.
Cow trade opened steady but prices began to erode by mid-week and ended a full $3 lower. Canfax suggests that prices will continue down $1-$2.
Good movement of lambs, a product of good supplies and strong demands, has worked to keep prices above the $1 mark. Lambs closed the week down seven cents to $1.06 per pound. True supply numbers won’t be known until larger sales take place later in the month and into early October.
A larger than usual number of feeder lambs have been appearing due to high farm feed prices with light and heavy lambs selling in the same range.
