Hog prices improve
Canadian hog prices rose last week.
In Manitoba, index 100 hog prices including premiums rose from $109.86 per 100 kilograms early last week to more than $115 per 100 kg by the end of the week.
Prices were helped by word the United States government was buying pork to provide as aid to countries suffering economic collapse.
Manitoba Agriculture also noted that trade actions in North and South Dakota could have reduced the number of Canadian hogs available to American packers. The agriculture department also said hogs normally sent to Sioux Falls, South Dakota were being redirected to Sioux City, Iowa, at a cost of $1 per head.
Read Also
Green lentil market oversupplied
Farmers in Western Canada can expect price pressure on their new crop of green lentils, as the available supplies among the world’s major lentil-growing nations increase significantly.
U.S. hog prices closed the week at $31 (U.S.) per hundredweight at Omaha, down $3 from mid week.
Fed cattle prices rise
Fed cattle prices improved last week thanks to higher wholesale beef prices. Canfax said packers still frowned on heavy cattle but all classes of cattle saw better prices.
The volume sold in Alberta was more than 29,000 head, up 40 percent from the previous week and high for this time of year, said Canfax.
Prices Sept. 17 in Alberta were steers $77.75-$81 per cwt., flat rail $130.85-$134.50 and heifers $81.50-$82.55, flat rail $135.50-$137.20.
Canfax said packers might find it difficult to make higher beef prices stick because Thanksgiving is coming and turkey will replace beef on supper tables.
The Russian financial crisis has hurt beef byproduct values, especially livers and hides.
In its forecast, Canfax said that although fed cattle prices have improved, there are still ample supplies of meat available.
Possibly tighter western Canadian supplies through October and November might help improve the basis levels but gains will be limited by the larger North American supply situation.
Cow prices slipped again last week but Canfax says the market should be steady this week.
Average feeder cattle prices rose last week thanks in part to better quality animals on offer that led to more sales at the top end of the price range.
Prices were steady to $2 per cwt. higher on calves and yearlings.
The number of animals for sale was up 72 percent over the week before and up 30 percent from this time last year.
Canfax said prices this week should be steady or firmer if the quality continues good, but large volumes might cause weaker prices later in the fall.
There were only a few quotes on bred cattle. Bred cows were $500-$900 and bred heifers $500-$750. No cow-calf pair sales were quoted.
