Fed cattle prices dropped early last week but stabilized by Thursday at $1.50-$2 a hundredweight lower than a week earlier.
Cattle on offer were down nine percent to 19,000. There was little demand from Ontario or the U.S.
Retail beef sales have only been fair and prices have slipped. If feedlots become over supplied, fed cattle prices could slip more, but Canfax thinks that won’t happen and forecasts steady prices for the near term.
Slaughter cow prices dropped about $2 per cwt. last week and Canfax expects another $1 drop.
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Feeder cattle prices are expected to remain steady as supplies are light.
Pork markets strong
Strong pork price gains last week helped push U.S. cash hog prices up by $3 to $4 per cwt. On Friday, Omaha’s price was $57.50 U.S.
Prices rose despite a kill rate that was 3.5 percent higher than the same time last year. In Canada, prices dipped through the midweek leading to lower weekly averages, but closed strong on Friday.
Agriculture Canada expects higher hog prices through the summer, but lower prices in the fourth quarter and in 1998 as production increases.
Lamb, sheep, goats
The railgrade slaughter lamb price in central Alberta was 2.55 a lb. Lambs 90-110 lb. live were $1.30-$1.34 a lb. and 110 lb. and heavier were $1.25-$1.30. Railgrade sheep price was 60-65 cents a lb. Live sheep were 25-30 cents a lb.
Goats 50-60 lb. were 85-90 cents, 60-90 lb. were 75-80 cents while billies and nannies were 25-35 cents a lb.
