Beef prices fall in U.S.
Fed cattle prices fell at mid-week on expectations that an outbreak of E. coli bacteria at a Minneapolis, Minnesota, school cafeteria could lead consumers to buy less beef.
Prices were mostly $1-$2 per hundredweight lower with weekly averages down $1.50 on steers and heifers, said Canfax.
Rail prices were about $3-$4 per cwt. lower than last week.
United States. interest was strong, especially in the first half of the week.
Alberta prices March 30 were steers $96.75-$98.75 per cwt., flat rail $163.25-$164.20 and heifers $96-$98, flat rail $166.30.
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Canfax said wholesale beef prices lost some ground. Calgary’s handyweight steer range was down $1 to $164-$176, with a few quotes to $179. The Montreal carcass price was steady last week at $168.
Carcass weights are two lb. lower than a year ago, which is quite a feat considering 2000 started out about 35 lb. over 1999.
Byproduct values are up slightly.
Canfax said that with more cattle approaching market weight, beef sales will have to improve to maintain fed cattle prices.
Cows traded fairly steady with a hint of pressure by week’s end.
The price drop wasn’t large, but could be attributed to plants finding adequate slaughter supplies and pressure from the fed cattle market.
Prices are still $4-$5 higher than last year.
The fall in the fed market also pressured the feeder cattle price down.
Heavier weight feeders were $1-$2 lower but lightweight cattle were steady. Strong demand for feeders continue to drive the market and volumes were good overall.
However, fewer grass cattle are being offered. Canfax said that as grass season nears, light feeders will remain strong and there will be good demand for top quality replacement heifers.
In stock cow trade, bred cows were $800-$1,500. Good quality cows were $750-$1,700.
Bred heifers were $800-$1,700 and cow-calf pairs were $800-$1,560.
U.S. packers buy up hogs
The U.S. hog market was bullish last week on the U.S. agriculture department’s pig report that showed the herd is not yet rebuilding.
Hog futures were further supported by news of foot-and-mouth disease in Japan and South Korea, tight supplies leading into the coming spring and summer, and record levels of pork exports.
By mid-week, it was reported that packers were short on supply amid unfailing retail demand.
On March 30, lean hog futures hit new highs in most 2000 contracts and cash hog bids rose as packers continued to seek supplies.
Iowa-southern Minnesota hogs (plant, 51-52 percent lean, live equivalent) on March 30 ranged $38.75-$50 with a mean of $47.26, up $3.10 from the previous Friday.
