Slaughter cattle down
SASKATOON (Staff) – Steady money didn’t last long for slaughter cattle markets this past week.
Canfax reports offerings were heavy right from the start and by April 10 prices were $1-2 per hundredweight lower.
Total volume traded for the week stood at 21,000 head, more than double the number traded over the four-day Easter week.
Canfax said feedlots seem to be marketing calves just as soon as they are confident the animals will grade, spurred by a shaky outlook for cattle futures prices and ever-higher feed costs. Wet feedlot conditions persist and tag continues to be a problem.
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Canfax reports wholesalers and retailers are buying beef on an “as needed” basis, causing soft demand and wholesale prices.
Lower prices filtered over to the cows by week’s end as well, pushing them about $1 per cwt. lower. D1 and D2 cows were traded from $39-$50 per cwt. Railgrade bids were $84-$88.
Feeder cattle prices went against the trend in the slaughter market, driven by demand for calves suitable for grass.
Canfax reports some pressure on late-in-the-week sales on shortkeep feeders, those weighing more than 800 pounds.
Hogs markets stay course
Saskatchewan hog prices and marketings were up for the week, reports the SPI marketing group, at an average Index 100 price of $167.70. That’s up 90 cents per hundred kilograms, on sales of 21,387. Alberta prices were up by $1.10 per ckg to $168.60 on sales of 39,511, while Manitoba prices were up by 46 cents on sales of 42,904 head, for an average pooled price of $168.93.
