Hog futures were expected to rise after the U.S. Department of Agriculture hogs and pigs report at the close of the week showed American producers had reduced herds more rapidly than forecast.
The U.S. hog herd, as of March 1, was 63.988 million head, down three percent from a year earlier, and the smallest herd for that date in three years.
The breeding herd was down four percent at 5.76 million head.
Analysts had thought that stronger futures in recent months would slow herd reduction.
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During the week, U.S. pork prices fell, narrowing packers’ margins and causing them to lower their cash bids for hogs.
Iowa-southern Minnesota cash hogs delivered to plants were $50 US per hundredweight, down from $51 March 12.
The U.S. pork carcass cut-out value fell to $70.76 March 26, down from $73.82 on March 19.
U.S. federal slaughter to March 27 was estimated at 2.19 million, up from 2.17 the previous week.
The Canadian Bison Association said grade A youthful bulls younger than 30 months in the desirable weight range were $2.45-$2.60 Cdn per pound hot hanging weight.
Grade A youthful heifers younger than 30 months in the desirable weight range were $2.30-$2.45.
Carcasses outside the desired weight ranges were discounted by up to 15 cents per lb.
With calving season approaching, slaughter cow prices should remain strong. Slaughter cows and bulls sold at $1.50 hot hanging weight.
Ontario Stockyards on March 22 sold 2,748 sheep and lambs and 520 goats. Light fancy lambs and goats sold at premiums due to the Easter market. Sheep fell $3-$5 per hundredweight while heavy lambs were steady.
Beaver Hill Auction in Tofield, Alta., reported 1,621 sheep and 414 goats traded March 22. Several lots of new crop lambs sold for more than $219 per cwt. Culls were down $5. The large run of goats allowed buyers to be selective.
Lambs lighter than 70 lb. were $165-$219 per cwt. Lambs 70-85 lb. were $155-$203, 86-105 lb. were $140-$182, and those heavier than 105 lb. were $120-$170.
Rams were $62-$80 per cwt. Cull ewes were $62-$79. Bred ewes were $105-$173.
Good kid goats heavier than 50 lb. were $160-$211 per cwt. Nannies were $65-$95 per cwt. Bred nannies were $111-$140 and mature billies were $110-$140.
