Big supply stomps on prices
Fed cattle prices fell most of last week as heavy supplies hit the market.
The weekly average was $1.50-$2 a hundredweight lower than the previous week. The volume sold was more than 21,000, well up from the light holiday run, said Canfax.
Beef prices started on a lower trend as retailers featured few beef specials. Montreal this week will pay $158 a hundredweight on A-1 steers and in Calgary the range is $124-$134.
Canfax said packers have good supplies and are expected to stay that way. The outlook is for steady slaughter prices.
Read Also
Prairies have variable soil moisture conditions
The dry weather in the west was welcome for preserving grain quality and advancing harvest, but it has resulted in very dry soil moisture conditions.
In the feeder market, trade was light, but prices held steady.
If the weather improves, trade volume will increase. If the recent increase in feed grain prices continues, feeder prices might slip, Canfax said.
Cold good for hog prices
Cold weather had hog markets reeling last week.
Adverse weather and strong retail demand for pork at lower wholesale prices led to U.S. cash hog prices climbing up to $55/cwt (U.S.) late in the week.
Prices in Canada dropped, but were expected to gain this week in response to the stronger U.S. market.
The Saskatchewan price for lambs over 80 pounds was $1.15/lb. and under 80 at $1.20. Slaughter sheep were 36 cents a pound and goats 45 cents. The price in Edmonton was $1-$1.17/lb. for lambs weighing 95-115 lb. and $1.09-$1.43 for 61-80 lb. Slaughter sheep were 53 cents.
