Cattle prices slip
Slaughter cattle prices slipped again last week partly because packers were comfortable with their inventories and good supplies are on the horizon.
Canfax said that on average, prices were down $2.50-$3 a hundredweight.
Beef wholesale prices dropped $1 or $2 in Ontario and Alberta and that might help increase demand before Christmas, Canfax said.
Feedlots are current, with the bulk of cattle having been fed 100 days or less. The feeder market was down about $1 over the week with most pressure on lower quality animals.
Read Also
Prairies have variable soil moisture conditions
The dry weather in the west was welcome for preserving grain quality and advancing harvest, but it has resulted in very dry soil moisture conditions.
Warmer weather expected this week might prompt more feeder marketings. Big feedlots appear full and demand from smaller farm feeders has helped stop a steep fall in prices.
Prices are expected to be steady to $1 lower this week.
Early last week the United States Department of Agriculture reported the number of U.S. cattle on feed as of Nov. 1 was up about one percent from the same time a year ago. Beef cow slaughter was up 24 percent over the same time last year.
Hog prices good
The hog market rose, thanks in part to demand for holiday hams in the U.S. where Thanksgiving was celebrated Nov. 28.
The USDA cold storage stock report showed a three percent drop in frozen pork stocks from last month, but three percent more than last year at this time. The report had little effect on U.S. futures prices.
The Saskatchewan Sheep Development Board reports lambs over 80 pounds sold for $1.05/lb. and under 80 sold at $1.12/lb. Slaughter sheep were 30 cents/lb. and goats 45 cents/lb.
