Hog Rally Falters
Lean hog futures that had seen a rally on strong fund investment faltered late last week.
Traders were worried that the funds would pull out.
Iowa-southern Minnesota cash hogs delivered to plants slipped to $60 U.S. per hundredweight Aug. 6 from $61 on July 30.
The U.S. pork carcass cut-out value was $90.05 on Aug. 6, up from $89.82 on July 30.
Part of this summer’s rise in pork prices was due to pork bellies, which traded at a record $150 per cwt. last week thanks to strong demand for bacon used in BLT sandwiches and hamburgers. Cash traders said the higher prices have slowed sales of the pork cut.
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U.S. federal slaughter to Aug. 7 was estimated at 1.97 million, up from 1.95 million the previous week.
Bison Steady
The Canadian Bison Association said Grade A bulls in the desirable weight range were $2.55-$2.85 per pound hot hanging weight.
Grade A heifers in the desirable weight range were steady at $2.50-$2.70.
Animals older than 30 months and those outside the desirable weight range may be discounted.
Slaughter cows and bulls were $1.75-$2.10.
Sheep Stronger
Ontario Stockyards Inc. reported that 970 sheep and lambs and 105 goats traded Aug. 3. Well-finished lambs sold barely steady while other lambs were $5-$10 per cwt. lower. Sheep rose $5-$10 per cwt. Goats sold steady.
At the Aug. 3 sale at Olds Auction at Olds, Alta., feeder lambs were $85-$140 per head. Ewes were $100-$140. Nannies were $100-$130 and billies $130-$180.
