DID HOGS POST BOTTOM?
U.S. hog cash prices fell early last week but were mostly steady later, halting a long decline.
The futures market also halted its slide and might have put in a bottom.
Some of the strength in the market was attributed to a cold blast hitting the Midwest.
Producers needed higher prices to go to the trouble of making deliveries.
However, the labour disruptions on the U.S. West Coast, which had backed up the pork export pipeline, limited gains. A settlement was reached on the weekend.
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Iowa-southern Minnesota hogs delivered were US$42-$43 per hundredweight Feb. 20, down from $44.50-$45 Feb. 13.
U.S. hogs averaged $58.41 on a carcass basis Feb. 20, up from $56.96 Feb. 13. The U.S. pork cutout dropped to $71.50 per cwt. Feb. 20, down from $72.13 Feb. 13.
The estimated U.S. weekly slaughter for the week to Feb. 21 was 2.285 million, up from 2.222 million the previous week.
Slaughter was 2.111 million last year at the same time.
BISON STEADY
The Canadian Bison Association said Grade A bulls in the desirable weight range sold at prices up to C$4.60 per pound hot hanging weight. U.S. buyers are offering US$4.10-$4.15 with returns dependent on exchange rates, quality and export costs.
Grade A heifers sold up to C$4.40. U.S. buyers are offering US$3.90.
Animals outside the desirable buyer specifications may be discounted.
In the live markets, Kramer Auction sold 465 head Feb. 12 in a strong market. Bull calves born in 2014 sold from $3.90-$4.20, while bulls born in 2013 that weighed 625-724 lb. averaged $3.32 per lb.
Heifer calves born in 2014 sold from $3.30-$3.50, with 600-725 lb. yearling heifers averaging $2.93.
LIGHT LAMBS STEADY
Ontario Stockyards Inc. reported that 1,073 sheep and lambs and 28 goats traded Feb. 17. All lightweight well-fed lambs sold steady. Heavy lambs sold barely steady to $5 cwt. lower.
Sheep and goats sold steady.
