Cattle prices still holding up
SASKATOON (Staff) — The Canadian dollar broke through 72 cents on its way down last week, but Canadian fat cattle prices have held and American buyers haven’t succeeded in taking too many cattle home with them. Canfax says that’s the markets way of telling the beef industry the spread between U.S. and Canadian prices was way out of whack earlier this winter.
That said, the return of warm weather and barbecue season and smaller carcasses (since more yearlings rather than two-year-olds are going to slaughter) means demand will likely start to pick up. That will help wholesale prices, but may not necessarily work its way back to feedlots.
Read Also
Huge Black Sea flax crop to provide stiff competition
Russia and Kazakhstan harvested huge flax crops and will be providing stiff competition in China and the EU.
Turning to cow trade, Canfax reports demand as steady but not “crazy” like it was during the middle of March. Supplies of cows will be getting tighter from April through June, which should support prices. D1 and D2 cows were bid between $58 and $69 per cwt. with top sales between $70 and $73.50. Rail grade bids were $118 to $127 per cwt.
More feeder cattle are on offer compared to the same time last year, Canfax reports. Buyers are still more interested in good quality and calves ready for grass.
Hogs still falling
The short week due to the Easter holiday meant fewer hogs were marketed and prices responded by heading south.
In Alberta, 34,619 hogs were sold for an Index 100 pool price of $1.47 per hundred kilograms. Manitoba marketings were off by nearly 6,500 head for an average price of $149.71 per ckg while Saskatchewan prices were down by $2.40 to $145.80 on nearly 2,800 fewer head.
