Fed cattle lower
Fed market prices dropped last week with steer and heifer averages falling $4.50-$5 per hundredweight from the week before.
Alberta trade opened lower June 28 with steer and heifer prices ranging from $81.70-$83.60 per cwt. live and $136-$138.50 on the rail.
On June 29 the rail trade improved with steers trading at $139.15-$139.40 per cwt. The result was a steer weekly average of $82.99 and heifers $83.01.
About 18,000 head traded last week, down from 23,000 the previous week.The Canada to U.S. cash basis narrowed to $5.84 under from $7.30 under the week before.
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Fed cattle exports jumped two weeks ago to 10,654 head.
With cut-out values stabilizing and the U.S. fed market expected to trade higher, Canadian prices might start to stabilize, Canfax said.
Beef drops
U.S. cutouts fell again with Choice down $2 US at $139.21 and Select down $3.33 at $131.98, said Canfax.
Beef movement is still struggling.
Canadian packers are feeling the same pinch. There is ample beef supply in the pipeline and U.S. product is heading north.
Canadian cutouts for mid-June were lower with AAA $176.15 Cdn, down $3.35, and AA $171.69, down $4.98.
The Calgary wholesale price for delivery this week was down $2-$3 at $152-$154.
Feeders mixed
Feeder cattle trade saw light steers and heifers and heavy steers trade lower, said Canfax.
Auction market volume dropped 12 percent to about 17,000 head.
Light steers and heifers 300-500 pounds fell $1.25-$2.50 per cwt. Heifers 500-600 lb. were $1 lower.
Steers 500-800 lb. were steady to $1 higher and heifers 600-800 lb. were 25 cents-$1.50 higher.
Feeder steers 800-900 lb. and heavier were steady to $1 lower and heifers 800-900 lb. and heavier were 50-75 cents higher.
Feeder cattle exports for the week ending June 23 were 8,033 head, up 57 percent from the week before.
Butcher cows were 50 cents-$1.50 lower. Butcher bulls were $2.25 lower.
Producers will probably be inclined to pre-price grass cattle for late summer or early fall delivery, said Canfax.
In limited offers, plain bred cows and heifers were $450-$850. Cow-calf pairs were $950-$1,300, with tops to $1,400 and plain types $600-$900.
Hog prices fall
U.S. packers met their need for the July 4 holiday and then dropped bids in anticipation of the short week.
Pork movement has been sluggish and pork prices drifted lower.
Iowa-southern Minnesota hogs traded at $54 US per cwt. June 29, down from $57.50 June 22.
The U.S. composite pork carcass cut-out value was $72.60 June 29, down from $78.04 June 22.
Slaughter for the week was estimated at 1.94 million compared to 1.93 million the week before.
U.S. hog numbers up
The U.S. hog industry is expanding despite higher feed costs thanks to three years of profits.
On June 29 the U.S. Department of Agriculture reported 62.75 million hogs on U.S. farms as of June 1, up nearly two percent from a year earlier and slightly more than many in the industry expected.
USDA also reported a one percent larger breeding herd at 6.116 million head and a two percent increase in hogs being fattened for slaughter, or 56.634 million head.
This greater number of hogs also has been attributed to more readily available vaccines that have reduced losses from circo virus, a deadly hog disease.
Bison steady
Prices were steady last week, said the Canadian Bison Association.
Lambs steady
Ontario Stockyards reported 1,574 sheep and lambs and 140 goats traded last week.
All lamb, sheep and goats traded at steady prices.
