Slaughter cattle prices down slightly
SASKATOON (Staff) – Offerings were heavy on the first day of trading after the Victoria day long weekend, but tailed off later in the week, Canfax said. Prices were down mostly $1 per hundredweight on slaughter cattle. Trade later in the week was firm on the top-quality cattle only.
Total volume traded in Alberta during the four-day week was 16,000 head.
Canfax said local packers were less aggressive in their buying habits during the past week and American buying was also softer. Ontario buyers were still bidding on high-yielding cattle.
Read Also
European wheat production makes big recovery
EU crop prospects are vastly improved, which could mean fewer canola and durum imports from Canada.
On the retail side, movement and demand is better, Canfax said. Summer-like weather in eastern Canada during the Victoria Day weekend spurred that movement and the Memorial Day holiday in the U.S. is typically the best weekend all year for beef movement. Still, there’s plenty of beef in the system, which limits how high prices can go. Montreal and Calgary wholesale prices were forecast to be down for this week.
On the cow side, slaughter prices are holding steady. Even though overall cow slaughter numbers are up, that’s more of an indication of higher numbers of animals overall rather than liquidation.
Hog prices soar
Even with the shorter week, hog prices were markedly higher. In Saskatchewan, the average Index 100 prices increased by $17.20 per ckg to $211.50. Prices in Saskatchewan have gone up $36.75 per ckg in the past three weeks.
Manitoba’s average price was $215.58, up $14.08 per ckg for the week. Prices in Alberta averaged $211.50, up $17.60 per ckg.
