Slaughter cattle down slightly
The slaughter cattle markets saw a slight slip last week.
The biggest problem is that cattle coming on the market have been fed only 65-95 days and don’t have the meat yield that packers want. Longer-fed cattle got better prices.
Canfax says the packers are having some success pressing up wholesale beef prices. The Calgary market rose about $2 per hundredweight to $139-$145.
The outlook is mixed because U.S. prices increased about $1 over the week while Alberta averages fell about $1.50.
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American buyers are not interested in short fed cattle and local packers seem to have adequate supplies.
Prices would rise if local demand increased, but Canfax says that is unlikely.
In the feeder cattle market, prices held steady except for a dollar rise for 500-700 lb. steers.
Lower feed costs and the steady fed cattle price have helped support calf prices.
Volume was up 14 percent over last week and up the same amount over last year at this time.
Canfax says about half of the fall calf run is complete. Expect large numbers for another week or two and then a fall off.
Calf prices are not expected to strengthen, but good quality animals should enjoy a steady market.
Hogs up
Hog index 100 prices gained a little ground in Canada, picking up a cent or two per kilogram. The U.S. markets showed no clear trend. Good demand for processing pork should help support prices in the near term.
