A tight supply of market ready hogs caused U.S. packers to push their bids higher last week. Retailers are stocking up for the U.S. Memorial Day holiday weekend.Also, U.S. hogs are slow to reach market weight because of a large quantity of late-harvested substandard corn.Pork cutouts traded steady for most of the week and, with hog prices rising, packers’ margins were tight.The upset on the stock market during the week caused Chicago hog futures to stagger at the end of the week. Iowa-southern Minnesota cash hogs delivered to plants was $64 US per hundredweight on May 7, up from $62 on April 30.The U.S. pork carcass cut-out value edged above $90 early in the week but settled at $89.45 May 7, down slightly from $89.96 April 30.U.S. federal slaughter to May 8 was estimated at 1.99 million, down from 2.03 million the previous week.The Canadian Bison Association said the demand and price of trim continue to rise. Demand for middle cuts is soft.Grade A youthful bulls younger than 30 months in the desirable weight range were $2.50 to $2.60 per pound hot hanging weight.Grade A youthful heifers younger than 30 months in the desirable weight range were $2.35 to $2.45.Carcasses outside the desired weight ranges were discounted by up to 15 cents per lb.A tight supply of slaughter cows and bulls caused prices to rise to more than $1.60 per lb. hot hanging weight.Ontario Stockyards on May 3 sold 1,312 sheep and lambs and 113 goats. Good light lambs sold barely steady. All other lambs traded at prices $5 to $10 cwt. lower. Sheep and goats were steady.
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