Wholesale pork prices fell
American pork wholesale prices fell initially for all cuts except hams
and bellies, but rose at the end of the week.
The Iowa-Minnesota daily direct hog price (plant mean, 51-52 percent
lean, live equivalent) declined from $42.91 per cwt. on July 23 to
$41.95 July 25.
On average, the week’s hog price was slightly lower than the previous
week’s price.
Iowa and central U.S. direct delivered early-weaned pig (10 pound)
prices increased by 84 cents per head to an average of $21.76 per head.
Read Also
Canada-U.S. trade relationship called complex
Trade issues existed long before U.S. president Donald Trump and his on-again, off-again tariffs came along, said panelists at a policy summit last month.
Hog numbers as expected
The United States Department of Agriculture monthly hogs and pigs
report was within analysts’ expectations and showed farrowings totalled
976,000 head, up one percent from last year but below March levels
after having reached a high of 982,000 in May.
USDA pegged the June pig crop at 8.66 million head, up two percent from
last year.
The average number of pigs per litter for June increased to 8.87,
compared with 8.85 last year.
Sows and gilts bred during June totalled 1.19 million head, down
slightly from the previous year.
Fed cattle prices rose
Fed cattle prices last week were volatile, due in part to a gyrating
currency, but the weekly average price rose.
Fed steers averaged $2 per hundredweight higher while heifers were up
$3.
The volume sold was up 34 percent at 27,600 head, Canfax said.
A larger percentage of heavy cattle are showing up in the mix and this
will be reflected in carcass weight numbers over the next few weeks.
As a result of the heavy selling, packers have lots of inventory and
bid lower as the week wound down.
Alberta prices July 25 were steers $87.25-$90.25 per cwt., flat rail
$148.45-$150.50 and heifers $88.50-$92.75, flat rail $149.20-$150.50.
The Montreal wholesale beef price was steady at $153 per cwt. basis
Montreal.
The Calgary market rose by $1-$2, with the majority of steer carcasses
at $147-$150 and tops to $152.
Movement is considered average for this time of year with good business
into the U.S.
Canfax said packers had up to 14 days supply by the end of last week,
so the cattle market would likely struggle this week just under $90.
Heavy cattle need to be sold quickly because weight discounts are
eroding the net price, Canfax said.
Feeder prices varied
Feeder calves were mostly $1-$2 per cwt. lower while heavier grass
cattle were steady to $1.50 higher.
Feeder volumes were down from the previous week, but 75 percent larger
than the same week last year due to the drought.
Higher feed costs will continue to pressure lighter feeder prices,
Canfax said.
Heavier feeders have remained steady, mostly due to limited supply.
The lower Canadian dollar seemed to spark additional American interest
for slaughter cows.
Cow prices started the week steady but improved by week’s end.
Some markets reported cow prices up as much as $5 per cwt., but the
weekly average finished only 50 cents higher.
In stock cow trade, cow-calf pairs were $750-$1,410.
Most pairs were $900-$1,250 with the average down a bit at $1,125.
More cows and calves are now being split before sale than before, but
there are still reports of large numbers sold as units. No bred cows or
heifers were reported.
