Fed cattle jump higher
The loonie fell about four cents US last week, accounting for most of the increase in Canadian fed cattle prices.
The American market was also a little firmer on higher boxed beef values and strong export sales.
There was a standoff for most of the week in the U.S. Plains with sellers wanting $100 US and bids at about $97.
In Western Canada, the steer average rose $4.23 Cdn last week to $96.39 per hundredweight, and heifers climbed $4.07 to average $95.95.
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Canadian fed exports totalled 6,351, down from 7,711 the week before and 12,707 last year.
D1, 2 cows in Alberta were $44 to $64 per cwt., averaging $54.40, up 50 cents.
Slaughter cow and bull exports totalled 2,866 head.
Butcher bulls were $45 to $85, averaging $63.80, steady with the week before.
Feeder cattle mixed
Auction market volume for the week was 65 percent higher at 30,151 head, which included 11,237 head sold through internet and satellite sales.
There were lots of cows and bulls and increasing volumes of feeder cattle.Overall, steers averaged 24 cents higher and heifers were 77 cents lower.
Alberta steers heavier than 700 pounds rose 31 cents and heifers were 83 cents higher.
Steers lighter than 700 lb. were 19 cents higher and heifers were $1.97 lower.
Canadian feeder cattle exports two weeks ago totalled 1,905 head, up from 1,291 the week before, but still well down from last year because of looming country-of-origin labelling.
Feeder cattle prices will be supported by falling feed grain prices and the weaker Canadian dollar.
Cow-calf pairs were $600-$1,025.
Beef prices rise
U.S. Choice cutouts rose $3.46 US to close Aug. 7 at $161.94, and Select climbed $3.12 to $155.09.
The Calgary wholesale market for delivery this week was $162-$164 Cdn.
Hog prices set records
Strong exports pushed U.S. pork cut-out prices to new record highs last week, which pushed hog prices to
record levels.
The low U.S. dollar had made American pork attractive, but last week the greenback made big gains, and analysts believe foreign buyers are stocking up before it rises further. Exports could fall off if the dollar maintains its strength.
Pork prices were also supported by retailers stocking up for the Labour Day weekend.
Hogs sold to slaughterhouses in Iowa-southern Minnesota the week that ended Aug. 2 weighed an average 257.5 lb., 4.8 lb. less than in the same period a year earlier, and 1.8 lb. lighter than the 259.3 lb. a week earlier.
Iowa-southern Minnesota cash hogs jumped to $66 US per cwt. Aug. 8, up from $60.50 Aug. 1.
The U.S. composite pork carcass cut-out value climbed to $92.32 Aug 8, up from $88.90 Aug. 1.
U.S. slaughter for the week ending Aug. 9 was estimated at 2.13 million, up from 2.09 million Aug. 2.
Jim Long, a hog market commentator and head of Genesus Genetics, noted last week that all European countries have reduced breeding sow numbers, ranging from a three percent decline in France to eight percent drops in Denmark and Spain to a 20 percent decline in Poland.
Overall, he estimates the breeding herd shrank by nine percent in the last year, meaning the European Union will have less pork to export in the coming year.
Bison
The bison report is not available.
Lambs down
Ontario Stockyards reported 1,264 sheep and lambs and 85 goats traded Aug. 4. Light lambs were under pressure at prices $10-$15 Cdn per cwt. lower. Heavy lambs were barely steady and sheep and goats were steady.
