Cattle supply up, price down
Fed cattle prices dropped last week by an average of $1.25 per hundredweight due mainly to large supplies and weaker demand from the United States.
Beef prices were also down $2, settling at $168 per cwt. in Montreal and $135-$142 in Calgary.
Canfax said larger supplies have hit the market and weaker prices are on the way. How far they drop is largely dependent on how American feedlots react. The outlook is for prices to be down $1 a cwt. this week.
Read Also
Working groups established to address challenges in the containerized and bulk movement of commodities
CN is working with the pulse and special crops sector on resolving challenges in shipping those commodities.
In the feeder cattle market, prices were mixed due to the variety of calves on the market. Lower volumes are expected to continue and only top quality cattle will hold their value.
Hog prices drop
U.S. hog sales didn’t meet packers’ needs again last week and several reduced their operating hours.
The resulting reduced competition for hogs temporarily depressed U.S. live hog prices by about $1, to $58 (U.S. )per cwt. at mid-week. Prices recovered by week’s end.
In western Canada the average 100 index price dropped $5.50 per 100 kilograms in Saskatchewan, about $2 in Manitoba and held steady in Alberta.
Sheep, goat prices
Sheep prices at Canada West Foods in Alberta were as follows: Railgrade prices were unchanged at $2.40 per pound for old crop lambs and $2.60 for new crop. Liveweight lambs 90-110 lb. sold for $1.25 a lb. (new crop $1.35-$1.43), 110 lb. and up $1.20 (new crop $1.25-$135).
Slaughter sheep sold for 25-38 cents a lb. live. Goats 50-60 lb. were 90 cents a lb. and 60-90 lb. 80-85 cents a lb.
