Cattle crowding up to the market gate
The number of market-ready cattle is increasing and prices for live cattle fell about $2 a pound last week.
Canfax says packers had adequate inventory, considering the slower movement of beef during the Christmas season when consumers turn to turkey and ham.
Also, there has been little interest from U.S. buyers lately. But that might change as more cattle have now been in feedlots for 100 days and have a better chance of grading choice under the U.S. system. The slide in the Canadian dollar will also encourage exports.
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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.
The feeder cattle market was under pressure during the week, particularly on second and third cut calves. The average price fell about a$1, but good quality calf prices held firm, Canfax said.
The number of head on offer was down 30 percent from the week before and should stay light through the holidays.
Hog prices down
Hog prices fell last week due to lower wholesale pork prices and softer packer demand.
Omaha’s Friday closing price was $54.50 (U.S.), down $3.50 from the previous Friday.
Good lamb prices
Alberta Agriculture says prices for lamb and sheep are attractive. Lambs 60-80 pounds sold for $1.10-$1.32/lb. in Edmonton. The Christmas season is a good time to sell quality light lamb because of premiums relative to heavy lambs, a department outlook said.
After Christmas, lamb markets might trend lower. However prices are expected to pick up in the spring thanks to the tight supply in North America.
Prices in Saskatchewan were: lambs over 80 lb. $1.08/lb., under 80 $1.14; slaughter sheep 35 cents/lb.; and goats 45 cents/lb.
