Fed cattle prices drift lower
Average weekly prices were $1-$1.50 per hundredweight lower due mainly to heavier weights, said Canfax. Prices Dec. 4 showed steers at $85.65-$88.30 per cwt. and heifers at $86.50-$88.35.
Wholesale beef prices held steady, but are expected to weaken as turkey season nears. With feedlot cattle rapidly reaching market weight because of mild weather, prices will slide into the new year.
Feeder cattle prices have been steady to slightly stronger, Canfax said. Tighter supplies and year-end buying for taxation reasons are key market factors.
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Quality stock cows fetched as much as $1,000 more than tail end, older cattle. Good bred cows gained $55 a head last week to range from $475 to a high of $1,420.
Hog prices down slightly
Canadian hog prices slipped about two cents per 100 kilograms during the week.
Manitoba Agriculture expects more processing capacity there will boost demand and prices, partly offsetting lower U.S. hog prices projected for 1998-99.
U.S. pork supplies are expected to increase by eight to nine percent next year, causing average hog prices to fall from about $52 (U.S.) per cwt. live in 1997 to $43-$47 in 1998.
Manitoba Index 100 hog prices (including premiums) could be $160-$170 per 100 kg next year compared to about $183 for 1997.
Sheep prices
Sheep prices from Canada West Foods at Innisfail, Alta., are: slaughter lambs live 90-110 lb. $1.05-$1.12; 110 lb. and more $1-$1.05; slaughter sheep live 25-38 cents a lb.; goats 50-60 lb. live 50 cents a lb.; billies and nannies 20 cents a lb. live.
