Beef prices steady
Average fed cattle prices were mostly steady last week.
Movement was up 18 percent from the previous week, said Canfax.
The continuing management-labor dispute at the IBP plant in Washington limited American buying interest.
Prices June 17 were steers $86.25-$88 per hundredweight, flat rail $143.75-$146.50 and heifers $85.75-$87.75, flat rail $147.
Beef movement is starting to show signs of slowing and product is building throughout the pipeline.
Canfax said wholesale beef prices were down $1 per cwt. in Calgary in a range of $146-$155. Byproduct values were unchanged.
Read Also
Vegetable oil stocks are expected to tighten this year
Global vegetable oil stocks are forecast to tighten in the 2025-26 crop year, this should bode well for canola demand.
Canfax said prices will be under some pressure this week because packers have ample inventory and U.S. demand is down because of the labor dispute.
Also, the coming holiday-shortened week at the start of July will mean slaughter disruptions and slightly lower prices, but the downslide will be limited by the current status of the Western Canadian feeding industry.
Slaughter cow prices were steady on fair demand from packers.
Lower boneless beef prices have held cow prices back, but firmer prices are expected this week.
Most good quality D1,2 cows traded from $52-$60 with some sales reported higher.
Feeder cattle sales were steady to strong last week.
Demand for good quality types is still good.
Compared to last year, volumes are down 12 percent, partly due to the fact that cattle moved earlier this year.
Canfax expects strong feeder prices will be maintained as volumes continue their seasonal slide.
In stock cow trade, bred cows ranged from $550-$1,350 on several sales. Bred heifers were poorly quoted in a range of $820-$1,250. Cow-calf pair sales were from $700-$1,575.
Hog prices drop
Hog prices in the United States fell through the week after packers had to drop pork prices to encourage retailers to buy more.
Iowa – Southern Minnesota hog prices (plant top, 51-52 percent lean, live equivalent) fell from $40.25 (U.S.) per cwt. on June 14 to $37 per cwt. on June 17.
Retailers have to start featuring pork soon to help reduce pork stocks.
Until U.S. hog market weights decline sufficiently and pork stocks decrease, packers are unlikely to greatly boost bids for hogs.
In the last month, thanks to excellent daily weight gains, carcass weights have been three to four pounds heavier than last year at the same time.
The weaker U.S. market affected Index 100 hog prices in Manitoba, which declined to an estimated average of $130 per 100 kilograms last week.
The U.S. Department of Agriculture hog report is out June 25. Analysts expect the breeding herd will be down eight percent, market hog numbers will fall four percent and total U.S. numbers will fall by four percent.
