U.S. cash hogs steady
Cash hog prices in the United States were stable last week, but the futures rally continued, giving Chicago a large premium over the cash market.
After a large slaughter two weeks ago, the U.S. sow kill dropped below last year’s level. Except for the Labour Day weekend, it was the smallest sow slaughter since early August.
Analysts believe aggressive culling is necessary to bring supply and demand in line.
The average live weight of barrows and gilts two weeks ago in Iowa-Minnesota was 268.9 pounds per head, up 0.5 lb. from a week earlier and up 3.2 lb. from a year earlier.
Read Also
Canola support gets mixed response
A series of canola industry support measures announced by the federal government are being met with mixed reviews.
U.S. August pork exports were down 18.5 percent from a year earlier at 307.57 million lb. Beef and veal exports totalled nearly 167 million lb., up slightly from July but down 24.5 percent from a year earlier.
The strength in the futures market was partly attributed to a commodity fund of Deutsche Bank diversifying its holdings into livestock.
Iowa-southern Minnesota cash hogs delivered to plants were $36.50 US per cwt. Oct. 16, little changed from Oct. 9. The U.S. pork carcass cut-out value rose to $56.50 Oct. 16, up from $52.95 Oct. 9. U.S. federal slaughter to Oct. 17 was estimated at 2.295 million, up from 2.291 million the previous week.
The strong Canadian dollar hurt prices in Canada.
Older bison prices lower
The Canadian Bison Association said the strong dollar, large supply and weaker trim prices are pressuring prices lower.
Bulls older than 30 months dropped 10 cents and heifers fell 15 cents compared to the younger than 30 month category, which was steady.
Younger than 30 month grade A youthful bulls in the desirable weight range in Canada were $2.25-$2.60 Cdn per lb. hot hanging weight.
Younger than 30 months grade A youthful heifers were $2.25-$2.35 per lb. Cull cows and bulls sold from $1.35-$1.40 per lb. Weight, quality, age and delivery location affect final price.
Sheep, lambs steady
Ontario Stockyards reported 871 sheep and lambs and 104 goats traded Oct. 13. Sheep, lambs and goats were steady.
