U.S. cash hog prices rose on stronger than expected pork prices and demand.
Futures hit an 18 month high. Strong margins allowed packers to bid up cash hog prices for the tight supply of market-ready pigs. Weight gain has slowed because of poor quality corn, related to the late and wet fall harvest.
Some traders also believe the hog count was too high in recent U.S. Department of Agriculture hogs and pigs reports.
Analysts worry that stronger than expected futures prices will discourage U.S. hog producers from continuing the sow liquidation.
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Iowa-southern Minnesota cash hogs delivered to plants were $51.50 US per hundredweight Feb. 26, up from $49.50 Feb. 19.
The U.S. pork carcass cut-out value rose to $73.39 Feb. 26, up from $70.92 Feb. 19.
U.S. federal slaughter to Feb. 26 was estimated at 2.16 million, steady with the previous week. So far this year, slaughter is down 6.6 percent.
The Canadian Bison Association said grade A bulls younger than 30 months in the desirable weight range were steady at $2.35-$2.60 Cdn per pound hot hanging weight.
Grade A youthful heifers younger than 30 months in the desirable weight range were steady at $2.20-$2.45.
Older than 30 month bulls and heifers might be discounted.
Slaughter cows and bulls sold at $1.50 hot hanging weight.
Beaver Hill Auction in Tofield, Alta., reported 861 sheep and 142 goats traded Feb. 22. Sheep and goats were steady. Feeder lambs and breeding stock were higher.
Lambs lighter than 70 lb. were $161-$179 per cwt. Lambs 75-85 lb. were $155-$180, 86-105 lb. were $135-$168, and those heavier than 105 lb. were $132-$145.
Rams were $72-$89 per cwt. Ewe culls were $70-$83. Bred ewes were $89-$150.
Good kid goats heavier than 50 lb. were $160-$200 per cwt. Nannies were $65-$130 per cwt. Mature billies were $100-$130.
Ontario Stockyards sold 614 sheep and lambs and 71 goats Feb. 22. Lambs were steady to higher. Sheep rose and goats were steady.
