Heavy cattle drop prices
The fed cattle market is weighed down by an influx of heavy cattle. Steer prices Sept. 4 compared to the previous week were $1-$2 lower at $80-$81.50 per hundredweight.
Heifers had better weights and prices were steady at $81.85-$82.50.
The U.S. market also suffers from heavy cattle, Canfax said.
Labor day beef sales were considered average. Retailers are buying only for immediate needs, waiting for price decreases.
Canfax expects this supply balloon will last into October. Waiting for an improvement will only lead to more heavy cattle and extend lower prices, it said.
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Feeder cattle prices slid $1-$3 lower. Quality is still a factor, but feedlots are also starting to fill and that will weigh on prices for the next few weeks, Canfax said.
Manitoba Agriculture says lower U.S. wholesale pork prices, heavier carcasses and sufficient supplies kept hog prices around $50 (U.S.) or lower early last week. Conditions improved late and Omaha closed Friday at $51.50, up $2 from the previous Friday.
Slaughter lamb prices at Canada West at Innisfail, Alta. this week are steady with last week. Lambs 90-110 lb. are 95 cents to $1 per lb.; lambs 100 lb. and over are 90-95 cents.
