Fed cattle price strong
Fed cattle sales in Western Canada opened strong last week, with prices in the upper $80s per hundredweight as local and American packers both showed interest, according to Canfax.
By later in the week, prices dropped by $1-$2 as packers filled their needs.
Volumes for the week neared 27,000 head, significantly higher than the short Easter week.
Canfax says producers should sell into strong rallies as there is still a large supply of cattle throughout North America.
Western producers can expect a price in the mid-to-upper $80s for the next while, Canfax predicts.
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Trade last week saw steers bring $85-$88, and heifers $83.75-$87.75.
In the western cow trade, cows were mostly steady to $1 higher. The sales spread was $48-$58 cwt. with most trading from $48-$56.
Feeder cattle prices continued their climb in the West last week, especially for steers heavier than 800 pounds with some barns reporting sales of 800-900 lb. steers from $106-$112.
Bred cow prices picked up slightly last week as prices ranged from $570-$1,050. Cow/calf pairs sold for $840-$1,640.
Hog kill rises
The Canadian hog kill is up 17.8 percent over the same period a year ago. The American hog kill is up 9.05 percent over 1997.
Despite U.S. hog sales being backed up because of the extended Easter weekend, packers in the Midwest increased their bids last week to $37.50 (U.S.). However, once packers’ short-term needs are met and slaughter numbers rise, prices may decline.
Manitoba Index 100 hog prices peaked last week at $130.69 per hundred kilograms.
