Pork prices fall
United States wholesale pork prices again fell last week, putting pressure on hog prices.
Manitoba Agriculture said that the recent pork movement has not been sufficient to significantly reduce the ample stored supplies.
The top plant price for 51-52 percent lean hogs was $27 (U.S.) per hundredweight on March 4, down $2 from the previous week.
Even though U.S. packer margins are apparently still over $18 per head, slaughter levels have been reduced.
There is concern that producers are holding back hogs, waiting for prices to improve, leading to heavy hogs being marketed in the next few weeks.
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Manitoba Agriculture estimated the average Manitoba Index 100 hog price (including premiums) at $105-$106 per hundred kilograms last week, down slightly from about $106 per ckg last week.
Cattle prices rise
Fed cattle prices rose throughout the week to close $3.25 per cwt. higher on steers and $4.75 higher on heifers compared to the previous week.
Canfax said the mix was generally yearling cattle and packers aggressively bid on longer fed types in hopes of getting more AAA grade animals. There was a large volume on sale and more heifers were sold than steers.
Prices March 4 were steers $87.75-$93.60 per cwt. and heifers $88-$93.
With cash prices rising so strongly, packers tried to push wholesale beef prices higher. Calgary beef prices rose $2-$3 per cwt. in a range of $153-$160 on handyweight steers.
Byproduct values slipped due to declines in the rendering market, as well as some pressure on hides.
Canfax said the strong cash market is the result of a lack of market-ready cattle. To sustain this strength, beef movement needs to improve as do wholesale beef prices. Carcass weights declined to 799 lb. on steers, five lb. less than a year ago.
Heifer kills are 23 percent larger than last year while steer kills are actually down seven percent. It appears little heifer retention occurred last year.
Canfax said prices should be steady to strong through most of March.
Average cow prices were $1 per cwt. higher. Slaughter cow supplies are expected to continue tightening through March.
Feeder cattle prices were steady to stronger with most weight categories rising $1-$2 per cwt.
Mostly steady to higher sales are expected this week with quality continuing to be a large factor in price.
Bred cows and heifers were mostly steady although reputation cows received premiums. Bred cows were $650-$1,250. Bred heifers were $700-$1,170 and cow-calf pairs $750-$1,150.
