Cattle getting too heavy
Fed cattle prices fell last week by about $1.50 per hundredweight for steers and $2.50 on heifers.
The reason is increasingly heavy cattle and packers building inventory.
The steer price Sept. 18 was $75.45-$81.10 and for heifers $80.10-$82.60.
Canfax said Alberta’s average steer weight was 815 lb. last week, the largest ever. Because of the heavier cattle, total weight produced was up over the same week last year, even though packers killed fewer animals. Canfax said the industry needs to catch up in sales and get weights under control or the issue could spill over into the grass-fed market.
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The dry weather in the west was welcome for preserving grain quality and advancing harvest, but it has resulted in very dry soil moisture conditions.
Feeder cattle prices rose $1-$3 per cwt. in heavy trade. Offerings were up 48 percent over the previous week and 38 percent over last year. Canfax says if the volume of feeders continues high, prices should start to slip.
Too many hogs
Manitoba Agriculture says U.S. hog marketings and market weights continue above week-earlier and year-earlier levels, leading to production outstripping demand.
Export trade has been hurt by devalued southeastern Asian currencies, making North American pork more expensive. The United States Department of Agriculture expects 1997 and 1998 pork exports to be lower than earlier estimated. However, improved demand for holiday hams could raise prices.
The Omaha price closed Sept. 19 at $51 (U.S.) per cwt., up $1 from the previous week.
In Canada, index 100 hogs were up more than $2 per 100 kg over the week.
USDA’s Sept. 1 Hogs and Pigs report to be released Sept. 26 could show herd expansion of one to two percent.
Lamb prices up
Lamb prices this week at Canada West Foods near Red Deer, Alta. are up. Slaughter lambs railgrade at $2.05 a lb. Live weight lambs 90-110 lb. are selling for 95 cents to $1.03 a lb. and 110 lb. and heavier 92-95 cents.
Slaughter sheep live are 35-38 cents. Goats 50-60 lb. are 80 cents a lb., while goats weighing 60-90 lb. are 65 cents. Billies and nannies are 25 cents a lb.
