Fewer U.S. cattle on feed
The monthly U.S. cattle on feed report showed a smaller-than-expected cattle supply, which should support cattle prices.
The U.S. Department of Agriculture reported the Dec. 1 feedlot supply at 99 percent of a year ago, or 11.282 million head. November placements were 1.845 million, or 92 percent of a year ago, and November marketings were 1.631 million, or 104 percent of a year ago.
Analysts, on average, expected the feedlot supply at 100.2 percent, placements at 94.5 percent and marketings at 102.2 percent, according to a Reuters poll.
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Placements were the second lowest for a November since 1996 when USDA began keeping records.
The smaller cattle supply was blamed on high priced feed corn and slow beef sales.
Hog prices rise
U.S. hog prices drifted lower last week, and traders said recent higher prices hurt demand. Prices could fall again once the Christmas season ends. Hog prices were supported by increased pork exports.
Iowa-southern Minnesota cash hogs delivered to plants fell to $46.50 US per hundredweight. Dec. 18, down from $48 Dec. 11.
The U.S. pork carcass cut-out value fell to $69.89 Dec. 18 from $70.09 Dec. 11. U.S. federal slaughter to Dec. 19 was estimated at 2.37 million, down from 2.215 million the previous week.
The bison report is not available this week.
Lambs higher
Beaver Hill Auction in Tofield, Alta., saw light trade with 206 sheep and lambs and 153 goats trading Dec. 14. Lambs were higher and goats steady.
Lambs lighter than 70 lb. were $130-$160 per cwt. Lambs 75 to 85 lb. were $148-$159, 86 to 105 lb. were $135-$148.50, and those heavier than 105 lb. were $125-$140.
Rams were $60-$74 per cwt. Ewe culls were $49-$70.
Good kid goats heavier than 50 lb. were $150-$197.50 per cwt. Nannies were $55-$85 per cwt. Mature billies were $115-$147.
Ontario Stockyards reported 3,092 sheep and lambs and 500 goats traded Dec. 14. Light and medium lambs sold higher. Heavy lambs, sheep and goats were steady.
