Slaughter cattle steady
There was a bit of a stand off in the slaughter cattle market last week, but tight short-term supplies prevented significant price slips.
Average prices were about a dollar off from the previous week in slow trade as packers slowed their activity, trying to wait out current high prices.
On the retail side, most supermarket features are on pork and turkey. On Sept. 26, fed steers brought $85.35-$87 and heifers $83.25-$86.85.
The short supply of market ready cattle is expected to keep U.S. prices at more than $70 (U.S.) for the next week, but there are big supplies coming in late fall.
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Feeder cattle prices slipped last week with calves hit the hardest. Most classes were $2-$4 lower by the end of the week.
CanFax said yearlings were down about $1 and should sell close to the fed market in the future. Calves will continue to face price pressure.
Hog gains predicted
In the hog market, prices continued to recover from the Labor Day holiday drop and more gains were forecast after a U.S. Department of Agriculture report Sept. 27 showed low inventories.
In the U.S. there is strong demand and sales. Trade in major markets south of the border reached $58 per hundredweight late in the week. That price pulled hogs out of Canada and helped strengthen prices here. With barley costs dropping, hog production should be profitable for the next few months.
Lamb prices
Lamb prices in Saskatchewan were $1.06 a pound and in central Alberta $1.08 a lb. Slaughter sheep were selling for 33 cents per lb. in Saskatchewan.
