Cattle prices fall
Fed cattle trade lost more ground last week as packer bids declined along with their ability to build more inventory around them.
Prices fell through the week and wound up averaging $1.50 per hundredweight lower, said Canfax.
Volumes were light to moderate, but enough considering the smaller kill requirements of late. There was virtually no interest from United States buyers because prices in Canada are higher than in the U.S.
Alberta prices Jan. 6 were steers $95.30-$97 per cwt., flat rail $162.85 and heifers $95.25-$97, flat rail $163.05.
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Smaller kills and sluggish beef movement have dominated the beef side of the market since the start of the year. Wholesale prices were steady through the holidays but have now slipped.
The Montreal price is down $2 per cwt. to $169 while Calgary is down $1 in a range of $159-$174 with tops to $180 on handyweights. Heavier carcasses are $3-$4 lower.
Beef buyers appear to be taking a wait-and-see attitude when it comes to purchases right now.
Canfax said even though prices have lost some ground over the past two weeks, Canadian prices are still higher than in the U.S. but that situation rarely lasts long.
U.S. price strength late in the week won’t directly reflect in Canadian prices yet.
Western Canadian prices are expected to hover in the mid $90s through much of January. When the yearling run ends, perhaps in mid February, prices should improve, assuming feedlots continue to sell cattle today, said Canfax.
Slaughter cows were steady to $1 per cwt. lower for the first week of 2000. Most D1,2 cows ranged from $54-$62, with a few sales higher. Volumes were light. Lower prices are expected as fed cattle come under pressure and more cows come to market.
In feeder cattle trade, light offerings were the name of the game. Prices were steady with no change in sight. Look for steady prices and higher volumes in the two to three weeks, Canfax said.
In stock cow trade: Bred cows ranged from $700-$1,350. Bred heifers were from $700-$1,250.
Hog prices hold up better
Retailers in the United States appeared to show more interest in buying pork than beef last week.
The small decline in wholesale pork prices early in the week resulted in excellent movement of pork through the system, which helped keep hog prices up, said Manitoba Agriculture.
The Iowa-southern Minnesota hog price range (plant top, 51-52 percent lean, live equivalent) Jan. 7 was $30.75Ð$40 (U.S.) per cwt. with a mean of $37.07.
The base hog (49-51 percent lean, carcass basis, plant delivered) was $41-$50.93 per cwt. with a weighted average of $47.31.
Manitoba Index 100 hog prices, including premiums, benefited from the declining value of the Canadian dollar later in the week to reach an estimated average of $132 per 100 kilograms for the week.
Bison sale takes 180 head
Results of the Dec. 11 Neil Kramer Auction sale in North Battleford, Sask.
Female 1999, 74 head, $1,850-$2,800, average $2,338.51. Female 1998, 25 head, $1,850-$4,100, average $3,346.
Bred female 1997, 10 head, $4,500-$6,650, average $5,320. Bred cows, six head $4,300-$5,300, average $4,883.33
Male 1999 400-450 lb., 25 head, $900-$1,010, average $965.80. Male 450-500 lb., 23 head, $930-$1,075, average $1,027.39. Over 500 lb., 17 head, $1,050-$1,300, average $1,124.12.
