Hogs rally
Stronger pork prices helped to lift hog cash prices. Packer operating profits remain very attractive, as the gap between the cut-out value and the cash hog price is wide.
The U.S. national live price average for barrows and gilts was US$46.92 per cwt. Jan. 13, up from $42.30 Jan. 6.
U.S. hogs averaged $61.63 on a carcass basis Jan. 13, up from $55.21 Jan. 6. The U.S. pork cutout was $80.54 per cwt. Jan. 13, up from $79.01 Jan. 6.
The estimated U.S. weekly slaughter for the week to Jan. 13 was 2.402 million, up from 2.088 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 2.297 million last year at the same time.
In Canada, the Jan. 13 Signature Five price was C$143.18 per 100 kilograms, up from $136.98 the previous week.
The price was $64.95 on a per hundredweight basis, up from $62.13 the previous week.
Bison steady
The Canadian Bison Association said Grade A bulls in the desirable weight range sold at prices up to C$6.25-$6.40 per pound hot hanging weight. U.S. buyers are offering US$4.60 with returns dependent on exchange rates, quality and export costs.
Grade A heifers sold up to C$6-$6.20. U.S. buyers are offering US$4.40. Animals outside the desirable buyer specifications may be discounted.
Lambs stronger
Ontario Stockyards Inc. reported that 654 sheep and lambs and 15 goats traded Jan. 9.
All lambs sold steady to stronger. Lean sheep sold steady with thicker and fatter types under pressure. Goats sold steady.
