Tight supply pushes cattle up
Fed cattle prices firmed last week, increasing another 50 cents to $1.
Supplies are still tight, said Canfax, and feedlots are pushing cattle onto the market that have been fed a fairly short time.
The price on Oct. 31 for steers was $88.40-$90.80 and heifers were at $88.75-$90.50. Wholesale beef prices for A1 steers held steady in Montreal at $166 cwt. and rose $1-$2 in Calgary to $137-$144 cwt.
Canfax said tight supplies will probably carry on through the month, but more culled cows are available and will provide a price ceiling. The fall feeder cattle rush finally began. More than 80,000 calves and yearlings sold, up 38 percent over the week before.
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Good quality calves held their own, but plain and common quality traded under pressure. The few yearlings available got top dollar, Canfax said.
Increased supplies will pressure prices, but low feed costs and strong fed cattle prices will add support. Canfax also warned producers to watch the Canadian dollar. A rising looney will hurt prices.
U.S. cash hog prices strengthened, but Canadian pigs fetched lower values last week. U.S. cash hogs rose $2 U.S. to $53.75 cwt.
Prices in Canada weakened partly due to the rising Canadian dollar, but better prices are expected this week.
Lamb prices
The Saskatchewan Sheep Development Board reports lambs over 80 pounds sold for $1-$1.02 per pound and those under 80 fetched $1.11 per lb. Slaughter sheep sold at 28-30 cents per lb. and goats were 45 cents per lb.
