Fed cattle prices were steady on light supplies last week.
Canfax said prices on Dec. 11 were $85-$88.30 per hundredweight for steers and $87.75-$87.90 for heifers.
Packers are well supplied and are preparing for the disrupted slaughter schedules that go with the holidays. Wholesale beef prices have held steady so far, but Canfax said they could drop.
The financial turmoil in South Korea has hurt hide prices.
Canfax recommends feeders should keep selling despite lower prices to avoid a supply backup in early 1998.
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No special crop fireworks expected
farmers should not expect fireworks in the special crops market due to ample supplies.
The Calgary to Omaha fed cattle basis narrowed to -$7.10 per cwt. from -$7.73 last week.
Feeder cattle were unchanged. Supplies dwindled and there will be little action during the holidays.
Pork prices slipping
U.S. wholesale pork prices fell last week. With plenty of hogs available and strong slaughter levels, packers had little incentive to pay more, even though pork sales have increased at the lower prices.
Manitoba Index 100 hog prices (including premiums) started the week at $163.16 per 100 kilogram, but declined to less than $156 per ckg by Thursday, the lowest price so far this year.
Sheep steady
Sheep prices at Canada West Foods in Innisfail, Alta., were steady. Slaughter lambs base railgrade are $2.20 per pound. Live weight lambs 90-110 lb. are $1.05-$1.12 per lb. and 100 lb. and heavier are $1-$1.05.
Slaughter sheep live are 25-38 cents a lb. Goat kids 50-60 lb. are 50 cents a lb. live and billies and nannies are 20 cents.
