American feedlots were busy
SASKATOON (Staff) — Feedlots in the southern United States sold many cattle last week. The U.S. department of agriculture confirmed sales on 121,000 head in the Texas panhandle/western Oklahoma area, 96,100 in Nebraska and 100,800 head in Kansas.
The brisk trade left many showlists depleted and feedlots were not willing to pull cattle ahead for anything under $75 (U.S.) per hundredweight.
The medium-term outlook for cattle prices was also buoyed by the Feb. 18 cattle-on-feed report. Feedlots placed five percent fewer cattle on feed in January but marketed six percent more than in January of 1993, slightly more cattle than most analysts had expected.
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With bids strengthening to $74 in the U.S., Canfax says Canadian cattle trade last week benefited from the higher prices. American and Eastern Canadian buyers were bidding on the 10,000 head on offer in Alberta.
Canadian slaughter cattle prices strengthened too, up by $2.50 compared to the second week of February. Ranges are wide as packers are not bidding kindly on heavyweight steers but were willing to pay a premium for the first batches of 1993 calves ready for slaughter.
Hog prices lower
The midwinter run of high hog prices ended last week, just as the prices coaxed some heavy marketing.
Alberta producers sent 7,000 more head to market, while the average pool price fell by $4 per hundred kilograms. Saskatchewan marketings were up by 3,000 head and prices down by $4.30 per ckg. Manitoba marketings were up by 1,000 head and prices down by $1.80.
