Demand pushes prices up slightly
SASKATOON (Staff) – The western Canadian slaughter cattle market was $1-$1.50 per hundredweight higher last week, driven by active buying by Ontario packers and good summer beef demand.
Trade on June 6 had steers priced from $71-$74.65 while heifers were at $70.25-$73.60.
Beef featuring by western Canadian and American retailers is helping to move the large supply of beef.
The total Canadian kill last week was 61,438 head, up nearly 6,000 head from the previous week. Year-to-date figures show the number of steers slaughtered is five percent higher than last year while female slaughter is up 12 percent for heifers and 10 percent for cows.
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Cow prices are suffering from higher-than-average American cow slaughter, losing $1 per cwt for the week. Drought conditions in the southwest U.S. are forcing ranchers to cull their herds.
Feeder cattle prices got a boost from the stronger fed market and a smaller offering, down one-third from the previous week. Canfax said buyers were active but calves are quoted in wide ranges as quality erodes due to the time of the year.
Hog prices slide off peak
Packers facing negative returns pressured the hog market last week while producer marketings remain strong, pushing hog prices down .
The average Saskatchewan Index 100 hog price was down $12.10 per hundred kilograms compared to the previous week at $192.10.
Alberta hogs averaged $194.20 down $14.10 per ckg on the week, while Manitoba hogs averaged $197.87, down $12.28 per ckg.
