Few cattle on market
SASKATOON – Dry weather across the Prairies has kept farmers busy harvesting and animals home on the range.
Feeder cattle for sale in western Canada this week were down 31 percent from the previous week and down five percent compared to the same week a year ago, reports Canfax. The number of cattle coming to market is expected to increase from now on. Some producers will hold onto their cattle through September in hopes of better prices this fall, predicts Canfax.
There were 6,052 cattle offered for sale in southern Alberta last week. In Central Alberta 5,871 steers and heifers were sold and 10,349 went to market in northern Alberta.
Read Also
Strong canola exports expected to tighten supply
Canola exports will end up the third strongest in the past 10 years, according to recent Canadian Grain Commission weekly export data.
While most cattle originated in Alberta, other provinces had good showings. In Ontario there were 6,487 sold, in Saskatchewan 3,667 went down the road and in Manitoba 1,070 animals were sold last week.
Producers should closely watch the Quebec referendum if they want to anticipate markets, Canfax advised. Finalization of the referendum question last week focused more news reports on Quebec, putting downward pressure on the dollar.
The Canadian dollar hovered around 74.55 last Thursday at noon compared to the U.S. dollar, up from 74.48 the week before and 73 cents one year ago.
Hog prices
Hog prices continued their downward trend. In Alberta the weekly average was .125 per hundredweight lower than last week’s 1.662. Saskatchewan was .107 lower than the previous week’s 1.655. Manitoba was also lower, at 102 compared to last week’s 1.628 per cwt.
