Pork prices rise
U.S. hog slaughter companies sharply limited production last week and were successful in driving pork prices higher.
Packer margins improved.
The outlook for tighter numbers of market ready hogs in the coming months lifted Chicago futures but the large premium over the cash market caused some uncertainty.
Russia on July 17 resumed fully unrestricted imports of pork from Canada and the United States.
Iowa-southern Minnesota cash hogs were $43 US per cwt. July 17, steady with July 10.
The U.S. pork carcass cutout value soared to $65.63, up from $58.18 July 10.
Read Also
Bond market seen as crop price threat
A grain market analyst believes the bond market is about to collapse and that could drive down commodity values.
U.S. federal slaughter to July 25 was estimated at 1.954 million, down from 1.957 million the previous week. Compared to the same week last year, slaughter was down 8.6 percent.
Bison unchanged
The Canadian Bison Association said markets were steady last week.
Grade A carcasses from youthful bulls in the desirable weight range in Canada were steady at $2.35-$2.65 per lb. hot hanging weight. Heifers were $2.25-$2.45 per lb.
The cull cow and bull average was $1.40 per lb. Weight, quality, age and delivery location affect final price.
Sheep steady
Ontario Stockyards reported 1,408 sheep and lambs and 111 goats traded July 13. All classes of sheep, lambs and goats were steady.
