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Western Producer Livestock Report – for May. 12, 2011

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Published: May 12, 2011

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HOG MARKET NEEDS HEAT

U.S. cash hogs traded a little lower during the week and Chicago hog futures fell sharply

The general sell-off in commodities pressured futures, as did worries that a cool spring is delaying demand for pork chops, hot dogs and other cook-out meats.

Pork bellies, which are made into bacon, fell from $150 per hundredweight a few weeks ago to $125 last week, a 17 percent drop.

Warmer weather should spark the rally.

Iowa-southern Minnesota cash hogs traded steady at about $67 per cwt. after packers unexpectedly made purchases May 6. That’s down slightly from $67.50 April 29.

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Food vs. fuel debate simmers in the background

The OECD/FAO are forecasting that 27% of the global cereals crop will go to biofuels and other industrial purposes by 2034.

The U.S. pork carcass cut-out value rose to $97.47 per cwt. May 6 from $93.31 April 29.

LAMBS EDGE LOWER

Beaver Hill Auction in Tofield, Alta., reported 212 sheep and 114 goats sold May 2.

Wool lambs lighter than 70 pounds were $215-$252.50 Cdn per cwt., 70-85 lb. were $225-$250, 86-105 lb. were $192-$206 and 106 lb. and heavier were $180-$196.

Wool rams were $61-$75 per cwt. Cull ewes were $55-$70.

Hair lambs lighter than 70 lb. were $195-$225 per cwt., 70-85 lb. were $200-$220, 86-105 lb. were $180-$200 and 106 lb. and heavier were $168-$184.

Hair rams were $60-$70 per cwt. Cull ewes were $70-$80.

Good kid goats lighter than 50 lb. were $145-$242.50. Those heavier than 50 lb. were $180-$242.50 per cwt. Nannies were $70-$98 per cwt. Billies were $100-$130.

Ontario Stockyards reported 1,084 sheep and lambs and 41 goats traded May 2. All sheep, lambs and goats sold actively at slightly lower prices.

Markets at a glance

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