U.S. cattle on feed down
Losses in the cattle feeding business and weak beef demand lowered the population of U.S. cattle on feed in May.
The number of cattle on feed in large feedlots in the United States totalled 10.4 million head on June 1, down four percent from the year before and the lowest in 10 years.
Placements in feedlots during May totalled 1.64 million, 14 percent below 2008. Net placements were 1.54 million head. That was the second lowest placement for May since the series began in 1996.
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Marketings of fed cattle during May totalled 1.95 million, down nine percent from last year. That was the lowest fed cattle marketing for May since the series began in 1996.
Other disappearance totalled 101,000 during May, 26 percent above 2008.
Hog prices fall again
Seasonal tightening of market ready hog supplies helped lift U.S. hog cash prices.
Weak pork prices pushed packer margins into a loss situation.
Chicago hog futures rose on the belief that the fall in prices was overdone. However, prices are still such that producers are losing money.
A U.S. industry-led plan to finance a sow cull program was abandoned because producers don’t have the money to support it.
Iowa-southern Minnesota cash hogs climbed to $43.50 US per cwt. June 19, up from $41 to $42 June 12.
The U.S. pork carcass cut-out value rose to $56.38 June 19, up from $55.99 June 12.
U.S. federal slaughter to June was estimated at 2.075 million, down from 2.1 million the previous week. Compared to the same week last year, slaughter was up 1.3 percent.
Bison mostly steady
The Canadian Bison Association said markets were mostly steady.
Grade A carcasses from youthful bulls in the desirable weight range in Canada were at $2.40-$2.65 hot hanging weight. Heifers were $2.40-$2.45 per lb.
Cull cows and bulls averaged $1.30 per lb. on tight supply.
Weight, quality, age and delivery location affect final price.
Good sheep, lambs steady
Ontario Stockyards reported 1,335 sheep and lambs and 52 goats traded June 15. Well fed lambs sold at prices steady to stronger, but all others were barely steady. Good sheep were steady with plainer and thinner types under pressure. Goats held firm.
