Prices take a dive
SASKATOON (Staff) – Slaughter cattle prices plunged with the mercury, losing as much as $5 per hundredweight last week, Canfax reported.
A lower U.S. cash market coupled with falling futures prices have made buyers and sellers a nervous lot.
Analysts were calling for prices to take another tumble as the United States department of agriculture’s latest cattle-on-feed report estimated between eight and 10 percent more cattle were on feed as of Jan. 1 compared to 1995.
Despite a week of frigid weather, volume traded was decent. Canfax reported volumes of 12,000 head, steady with the previous week.
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Prices on Jan. 25 had steers bid from $74.50-$75.75 while heifers were bid from $74.25-$75.75.
While fed cattle markets were falling, the slaughter cow market edged up by $1 per cwt. Canfax said numbers on offer have declined because of cold weather, and packer interest is firm. D1 and D2 cows were traded from $37-$49 per cwt., with top prices paid from $50-$52. Railgrade bids ranged from $82.50-$85.
Canfax reported feeder cattle trade, with prices mostly steady on average, experienced some weakening in response to the sluggish fed market later in the week.
Hog prices recover
Questions about the accuracy of the United States’ Dec. 1 hogs and pigs inventory are being asked as hog prices increase. The index 100 pooled price is up by $3.80 per hundred kilograms in Saskatchewan to $144; $1.35 in Manitoba to $147 per ckg and $4.80 in Alberta to $148.50.
