Taiwan’s misfortune good for prairies
Taiwan’s foot and mouth problems caused hog prices to jump about $6 per 100 kilograms last week.
Also, USDA hog numbers released March 27 showed spring and summer farrowing intentions below expectations. Coupled with hopes for increased sales to Japan because of Taiwan’s problems, look for stronger fall markets.
It was a choppy week for fed cattle bids with steers settling March 26 at $86.25-$88.15 per hundredweight and heifers at $84-$87.35.
Packers are suffering poor retail beef demand and are buying only as needed. Canfax says fed cattle prices should be steady until mid April.
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D1 and D2 cattle were on average down $1-$1.50 per cwt. to $45-$48.
Canfax says feeder steers were $2-$3 per cwt. lower except for 600-800 lb. classes. Feeder heifers were generally $1 lower.
Compared to the previous week, volume was up 13 percent.
Volumes should start to ease by mid April. Buyers will be selective as feedlot pen space is short until more finished cattle start to move.
Canadian Cattle Buyer newsletter says the most recent U.S. cattle on feed report indicates June-July marketing will be up four to six percent over last year at the same time. That doesn’t guarantee a summer price collapse, but it posts a warning, the newsletter said.
Last week, Canada West Foods near Red Deer average bids for slaughter lambs were unchanged at $2.40 a lb. for railgrade. Feeder lambs were $125 per cwt. The Saskatchewan Sheep Development Board reported average prices of $150 per cwt. for Easter lambs, $130 to $140 per cwt. for new-crop lambs and $125 per cwt. for slaughter lambs.
