Hog demand, prices up
Hog prices continued their run last week as packers bought heavily to prepare for the demand on Christmas hams.
The dropping Canadian dollar, down about 1.5 cents compared to the U.S. dollar from a few weeks ago, is also helping Canadian hog prices.
This pre-Christmas rush usually eases during the second and third week of December.
Slaughter cattle price dips
The slaughter cattle market fell during the week. Canadian packers and U.S. buyers showed little interest. Demand for beef is slow preceding Christmas.
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Calgary wholesale beef prices dropped about $3 to $130-$140 per hundredweight. Canfax says prices will probably stay down for the immediate future, but recommends selling as cattle reach market weight.
Good quality feeder cattle prices ignored the weak slaughter market, although poor quality cattle faced some pressure.
The demand is coming from those looking for investments before the end of the tax year, said Canfax.
Volume of animals offered will start to taper off as Chrismas approaches, but last week was steady with the previous week and up 68 percent over last year.
Canfax says feeder cattle prices should hold for the rest of the month, but will be pressured in the new year.
Sheep prices rise
Saskatchewan sheep prices were up. Lambs over 80 pounds sold for $1.08/lb. and under 80 sold for $1.14/lb. Slaughter sheep were 35 cents/lb. and goats 45 cents/lb.
