Demand brings prices up
SASKATOON (Staff) –ÊSlaughter cattle prices were moderately higher on fewer sales, due partly to the Thanksgiving holiday. Canfax reports volumes were down by 30 percent compared to the first week of October. Market-ready supplies are getting tighter just ahead of the time when summer yearlings will be ready. Heavy cattle are still in the mix.
Heifers continue to fetch a premium over steers: this past week, price difference averaged $1.50. Trade on Oct. 13 had steers sell between $75-$81.50 per cwt. while heifers went between $80.65-$82.50.
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Cow trade was off by $2-$3 per cwt., as relatively more head are coming to market. Larger available numbers mean packers will be able to keep the pressure on prices, Canfax said.
While a few feeder sales seemed to show glimmerings of strength later in the week, prices were lower overall. Volumes on offer were par with the previous week, Canfax said, but one-third higher compared to the same week in 1993. Buying is cautious for feedlots, but seems to have opened up a bit for smaller feeders. Alberta steers weighing 600-700 lbs. averaged $1.05 — 500-600 pound heifers were the same. Same weight steers in Saskatchewan and Manitoba averaged $1.07.
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Even though there were ample supplies in a four-day week, hog prices increased and then stabilized. Kills in the U.S. are still running six percent ahead of 1993, but cash hogs in Omaha were steady at $33.50 (U.S.).
The weekly pool price in Saskatchewan stood at $112.80 per ckg while Alberta’s average price was $114 and Manitoba’s $114.43.
