Pork prices stay down
Market hog prices continue below producers’ expectations while cattle markets demonstrate continued improvements.
Pork supplies in Canada and the United States continue at a high level and an anticipated price turnaround is not happening. Slaughter numbers in both countries continue at high levels. Canadian slaughter is up 14 percent over last year and U.S. packers are up just over one percent compared to last year.
Toronto hogs were $124 per hundred kilograms and Alberta followed closely. Saskatchewan marketings are up slightly and the average price reached $127 per ckg.
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Beef prices improving
On the beef side, bids on all classes of cattle are competitive and prices continue to gain strength.
Alberta cattle feeders have more pen space than usual this year and are looking for calves. A strong feeder cattle run is expected for the fall with prices about 10 cents a pound better than last year.
In the last 10 days, the yearling run has started in many of the drier regions like northern Alberta. Feed shortages helped some producers decide to move the steers to town sooner.
Prices for northern yearling steers weighing 800 lb. were $1.11 to $1.13. Larger steers at 900 lb. were $1.06. Heifer prices closely tracked the steers.
Fed prices are a full dollar higher over last week due to high packer demand in Canada.
Slaughter continued to be high last week at 73,000 head on a national basis. Alberta handled more than 50,000 of these.
Carcass weights crept over the 800 lb. mark this week but steady beef movement and demand appears to override this concern. Demand is healthy domestically and on the export side. Asian markets are rebounding and Mexico continues to be a good customer.
The American grinding market is boosting prices as well. Eastern cow prices for D1s and 2s are $55-$63.50. The western market is weaker at $50-$55.
