Hogs fall further
Hog prices have been pressured lower by an ample supply of hogs, weak pork demand and a cool summer that has allowed rapid pig weight gain.
The average hog weight in Iowa-Minnesota two weeks ago was almost 267 pounds, compared to 266 lb. the week before and 257.5 lb. the year before.
Chicago October hog futures fell 17 percent last week.
Iowa-southern Minnesota cash hogs fell to $37 US per hundredweight Aug. 7 from $39.50 per cwt. July 31.
The U.S. pork carcass cut-out value fell to $54.57, down from $59.41 July 31.
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U.S. federal slaughter to Aug. 8 was estimated at 2.09 million, down from 2.1 million the previous week. Compared to the same week last year, slaughter was down 0.3 percent.
Unprofitable prices will force American producers to start culling their herds as Canadian producers have done, which could temporarily add to the pork surplus. The market also is concerned that the H1N1 flu virus could hurt pork demand if it becomes serious in the fall.
Bison report
Last week’s report is not available.
Two weeks ago the Canadian Bison Association said Grade A youthful bulls in the desirable weight range in Canada were $2.35-$2.65 Cdn per lb. hot hanging weight.
Grade A youthful 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 prices up
Ontario Stockyards reported 961 sheep and lambs and 102 goats traded Aug. 3. All well-fed lambs and goats were steady to stronger and a good selection of sheep traded $3-$5 per cwt. stronger.
