HOG PRICES EDGE HIGHER
U.S. market-ready hog supply tightened. Packer profit margins narrowed. Pork is supported by high beef prices.
For the second week in a row, U.S. hog prices ended the week at record levels.
Ron Plain, University of Missouri agricultural economist, noted the average hog carcass price April 8 was 98.3 percent of the pork cut-out value.
He said that is unsustainably high and there will be pressure for hog prices to drop and cutout to rise.
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However, the market will be seasonally supported as U.S. Memorial Day May 30 approaches, marking the traditional kick off to grilling season.
The stronger Canadian dollar limited gains north of the border.
Iowa-southern Minnesota cash hogs delivered to plants rose to $67 US per hundredweight April 8, up from $66-$66.50 April 1.
The U.S. pork carcass cut-out value climbed as high as $95.44 April 5 and closed the week at $94.60, up from $94.12 April 1.
The U.S. federal slaughter estimate was 2.069 million head, down from 2.128 million the previous week.
BISON PRICES RISE
The Canadian Bison Association said grade A bulls in the desirable weight range were $3.60-$3.85 per pound hot hanging weight.
Grade A heifers were $3.50-$3.85.
Animals older than 30 months and those outside the desirable weight range may be discounted.
Slaughter cows and bulls were $2.50-$2.70.
On-farm prices for feeders were $2.25-$2.60 for calves and $2-$2.30 for yearlings.
HEAVY LAMBS RISE
Ontario Stockyards Inc. reported 1,669 sheep and lambs and 85 goats traded April 4.
Good light lambs saw stronger prices.
Heavy lambs rose $5-$7 per cwt. Sheep fell $5-$7 cwt.
Goats sold steady.
