Cattle prices gain
The fed cattle market rose again last week, with steers gaining $2.28 per hundredweight and heifers $1.22, thanks to good local and American demand.
High yielding, long-fed yearling heifers brought the high for the week, but some fall-placed steer calves also challenged the highs, said Canfax.
Prices March 11 were steers $92.75-$94.55 per cwt. and heifers $89.50-$96.05.
Volumes were only four percent lower than last week, at 14,700 head. Wholesale beef movement is still unspectacular and there are ample beef supplies, but tight cattle supplies and higher cash cattle prices have forced beef prices to tag along.
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Montreal wholesale steer prices this week are up $2 a cwt., to $159-$161. Calgary wholesales are $155-$162, with tops to $164.
Canfax said sellers have been willing to pull cattle ahead and market aggressively. This helped to keep carcass weights and total tonnage down. It also means the industry will be current moving into April.
Cow prices were steady to slightly higher on good quality and the outlook is for steady prices.
Feeder cattle prices were steady.
Judging by the averages, prices on yearlings and grass-fed cattle didn’t appear to follow fed cattle prices higher, said Canfax.
Steady sales are expected this week, but reputation cattle will fetch premium prices.
In the stock cow trade, bred cows were $700-$1,250. Bred heifer prices were $700-$1,100 and cow-calf pairs were $825-$1,500. The outlook is for steady prices.
Fewer American hogs
A snowstorm in the United States early last week reduced hog marketings and forced packers to increase bids, but when the weather improved and marketings increased, the prices declined.
Top practical price March 12 for barrows and gilts in Omaha, Nebraska, was $26 (U.S.) per cwt.
Although hog slaughter in the U.S. is expected to decline in the next month, if producers continue to deliver heavier hogs and add to the already burdensome pork supply, this will offset any positive impact that fewer numbers may have on prices, said Manitoba Agriculture.
The average Manitoba weekly Index 100 hog price (including premiums) was estimated by Manitoba Agriculture to be about $102-$103 per hundred kilograms last week, down from a revised estimate of $103-$104/ckg for the previous week.
Manitoba hog prices are still being estimated due to the continued reluctance of one slaughter plant manager to provide weekly prices.
