Hogs rise
Chicago hog futures rose to a two-year high as investors bet that record high pork prices in China would cause it to import more pork from the United States.
Live prices also rose with the U.S. national average for barrows and gilts at US$59.14 per hundredweight June 10, up from $57.20 June 3. U.S. hogs averaged $77.39 on a carcass basis June 10, up from $75.09 June 3.
The U.S. pork cutout was $86.32 per hundredweight June 10, up from $85.92 June 3.
The estimated U.S. weekly slaughter for the week to June 10 was 2.086 million, down from 1.899 million the previous week.
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China’s grain imports have slumped big-time
China purchased just over 20 million tonnes of wheat, corn, barley and sorghum last year, that is well below the 60 million tonnes purchased in 2021-22.
Slaughter was 2.121 million last year at the same time.
In Canada, the Signature Three price was $83.09 per hundredweight, or $183.19 per 100 kilograms, up from $80.34 and $177.11, respectively, the previous week.
Bison
The Canadian Bison Association said Grade A bulls in the desirable weight range sold at prices up to C$6 per pound hot hanging weight. U.S. buyers are offering US$4.45 with returns dependent on exchange rates, quality and export costs.
Grade A heifers sold up to C$5.75. U.S. buyers are offering US$4.35.
Animals outside desired specifications may be discounted.
Sheep steady
Ontario Stockyards Inc. reported that 1,431 sheep and lambs and 55 goats traded June 6. All classes of sheep, lambs and goats sold steady on a good demand at steady prices.
