Slaughter cattle prices slip
SASKATOON (Staff) – Slaughter cattle started out at steady money, but by midweek prices had lost up to $1 per hundredweight on heavier cattle, with trade late in the week seeing another 50 cents shaved off prices.
Canfax reports packers are making their preferences known: The higher the weight, the lower the price. About 1,300-1,325 pounds seems to be the cut-off.
The fall in prices didn’t affect the number of cattle on offer. Canfax reports volumes were up by about two percent to 16,000 head. Other factors aggravating the slide in fed cattle prices include:
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- Weak U.S. interest – Prices on the Southern Plains slipped to $60 (U.S.) per cwt. this past week. American buyers have plenty of cattle to choose from, since showlists haven’t been depleted two weeks running.
- Rising Canadian dollar – Canfax said the dollar has gained nearly one cent recently.
- Lots of meat – Demand for beef has stalled, which means retailers and packers have ample inventories. Numbers slaughtered may be off slightly, but the heavier weights means there’s still the same amount of meat going into the pipeline.
On the feeder side, Canfax said most of the animals hitting the calf market are still yearlings, with the calf run yet to start. Pressure in the fed market has given buyers a cautious attitude; trade is characterized by wide spreads among all weights of feeders.
Hogs run up
Hog prices continued their ascent last week, with all segments of the market showing strength. Average Index 100 pooled prices were up by $7.80 per hundred kilograms in Saskatchewan, $7.48 in Alberta and $6.90 in Manitoba.
