Beef prices high
The average price for steers last week was up 62 cents per hundredweight, and 53 cents on heifers.
Canfax said that while volume was down a little, more calves showed up in the mix.
Canadian packer activity was strong along with some American interest on the yearling cattle.
Prices March 16 were steers $97.50-$99.25 per cwt., flat rail $167-$168.55 and heifers $96.75-$98.75, flat rail $167.
With live cattle prices so strong, wholesale beef prices are rising.
The Montreal price is $168, up $7 per cwt. for the week. The Calgary price rose $5-$7 to a range of $167-$180 on handyweight steers.
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The next question is how consumers will react to higher beef prices.
Canfax said that with significantly stronger boxed beef prices in the United States and a solid U.S. floor price, prices in Canada should be firm for the rest of the month. But April’s market will depend on the strength of boxed beef prices.
Fed cattle supplies will increase through the second quarter as the larger winter placements hit market weight.
Cows were steady to stronger on good quality types, said Canfax.
Most D1, 2 cows traded from $55-$60 per cwt., with a high of $65.50.
D3s ranged from $46-$55, and a high of $57.
Outlook is steady.
The healthy fed cattle market helped boost average feeder cattle prices $1-$3 per cwt. higher, depending on quality.
Canfax expects the market to remain strong this week.
In stock cow trade, bred cows were $760-$1,500. Good quality cows were $1,200-$1,500 and bred heifers were $900-$1,500.
Cow-calf pairs ranged from $730-$1,550.
The outlook is for steady prices.
Hog prices up
Hog and pork markets continued strong in the U.S. last week.
The futures market made sharp gains, supporting rising bids in the cash market, said Manitoba Agriculture.
The market was further supported by the anticipation of decreasing slaughter numbers and increasing pork product prices.
Packers are pressuring retailers to move pork, which looks attractive compared to higher-priced beef.
In the cash hog market, the Iowa-southern Minnesota hog prices (at plant, 51-52 percent lean, live equivalent) strengthened during the week. On March 17, the range was $36.50-$47.75 (U.S.), with a mean of $44.68, up $2.24 from March 10.
The average Manitoba Index 100 hog price (including premiums) was estimated at $161.10 per 100 kilograms.
University of Missouri hog analyst Ron Plain said the hog industry continues to grow more vertically integrated and co-ordinated.
Based on a study by the University of Missouri and the National Pork Producers Council, the percent of U.S. hogs sold on the spot market was down to about 26 percent in January of 2000.
This compares with 36 percent in January 1999, 43 percent in 1997 and 62 percent in 1994.
