Cattle prices are better
Fed cattle prices closed the week $1.50-$2 per hundredweight higher on average.
A few calves in the mix generated a premium of $2 per cwt. over yearling cattle.
Canfax said Canadian and American packer activity was good.
Prices March 2 were steers $92.50-$95.85 per cwt. with one package of calves to $97.25, flat rail $158.75-$160.85 and heifers $92.75-$95.75, flat rail $158.75.
Beef movement is starting to show some signs of improving, Canfax said.
Calgary wholesales are up $1-$2 per cwt. this week with handyweight steers $155-$169. The Montreal price is steady at $158 but will probably be higher next week.
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Canfax said that with fewer heavy yearlings in the mix, carcass weights will fall and quality and uniformity will improve. Price will depend on how beef movement picks up into spring.
March cattle supplies in the United States are tight and kills there will be smaller.
Slaughter cow prices were steady. Offerings were average on a moderate packer demand. Most D1, 2 cows traded from $55-$60. Lean cows fetched premiums.
Supplies should continue to tighten through March with higher prices expected, said Canfax.
Feeder cattle price strengthened as the fed market improved. The gains were noticed mostly in heavier feeders while calves traded steady. In particular, 700-800 lb. heifers sold $3-$5 higher by week’s end as buyers wanted to breed these heifers or put them on feed.
The export floor was reached with 850-900 lb. feeders moving south earlier in the week.
Canfax said feeder prices should remain steady to stronger in the short
run.
In stock cow trade, bred cows ranged from $725-$1,520 with medium types $900-$1,200 and good quality cows mostly $1,200-$1,520. Bred heifers were $800-$1,500. Cow-calf pairs were $1,100-$1,550.
Bred heifers and cow-calf pairs were lightly tested overall.
U.S. hogs marketed early
Pork movement increased, leading to higher wholesale pork prices in the U.S. late in the week, particularly for butts, hams and bellies.
Supplies of hogs were sufficient for packers’ needs as mild weather in the Midwest allowed producers to market hogs earlier than expected.
Iowa-southern Minnesota hog prices (plant top, 51-52 percent lean, live equivalent) started the week at $45 (U.S.) per cwt., but declined slightly to $44.75 for the remainder of the week.
The price range March 3 was $32.75-$44.75 (U.S.) per cwt. , with a mean of $41.60, up 40 cents from the previous Friday.
It is likely U.S. hog slaughter will drop below the 1.9 million mark experienced in recent weeks, leading to higher hog prices. Some analysts predict a larger-than-normal seasonal rally in hog prices.
In Manitoba, average Index 100 hog prices, including all premiums, were estimated at $157 per 100 kilograms for the week.
Manitoba Agriculture said depending on pricing arrangements Manitoba hog exporters have with plants in the U.S., it looks as if average Manitoba hog prices are $7-$14 per ckg higher than the farmgate prices producers could get from U.S. plants last week.