Cattle prices steady despite strike
Fed cattle prices held steady last week, despite the reduction in slaughter due to the strike at Cargill’s High River, Alta. plant.
Prices July 17 were $80-$83.50 per hundredweight for steers and $79.50-$82.25 for heifers.
The reduction in beef output has allowed other packers to push up the wholesale price. It rose $3 to $134-$140 per cwt. in Calgary, Canfax said.
The strong U.S. fed-cattle cash market has helped keep Canadian prices steady despite reduced packer capacity.
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Feedlots are current, meaning there is no backup of animals ready for slaughter, so Canfax sees no catastrophe brewing because of the labor dispute.
Its outlook for this week was for prices to be steady to $1 higher.
Buyers are watching as hot dry weather in the U.S. is pushing up corn prices, and therefore all feed grains.
Health problems in Europe
The hog market saw higher prices last week. Spreading hog health problems will have a positive effect on prices in the next few months.
But packers complain of poor margins and lack of demand locally and for export.
The closing hog cash price in Omaha July 18 was $60 (U.S.), up $1 from the previous Friday.
Lamb down slightly
Lamb prices in central Alberta for the week ending July 25 are down slightly. Slaughter lamb base railgrade price dropped 10 cents to $2.10 a pound. Live weight prices are: $1.05-$1.07 a lb. for lambs 90-110 lb.; $1-$1.07 a lb. for 110 lb. and up.
Slaughter sheep liveweight are 30-32 cents a lb.
