Hogs edge up
The weaker loonie helped lift Canadian cash hog prices but the rally in the United States slowed as packer profits narrowed.
Traders will watch pork demand closely now that U.S. national pork month has ended. American Thanksgiving is approaching with increased demand for turkey but hams should also be in demand.
The U.S. national live price average for barrows and gilts was US$49.78 per hundredweight Oct. 27, up from $48.39 Oct. 20.
U.S. hogs averaged $64.41 on a carcass basis Oct. 27, up from $64.37 Oct. 20.
The U.S. pork cutout was $77.56 per cwt. Oct. 27, up from $75.50 Oct. 20.
The estimated U.S. weekly slaughter for the week to Oct. 28 was 2.526 million, up from 2.480 million in the previous week.
Slaughter was 2.407 million last year at the same time.
In Canada, the average for the week to Oct. 28 Signature Five price was C$151.94 per 100 kilograms, up from $140.17 the week before.
On a per hundredweight basis, the average price was $68.92, up from $63.58 the week before.
The Canadian Bison Association said Grade A bulls in the desirable weight range sold at prices of C$6–$6.25 per pound hot hanging weight.
U.S. buyers are offering US$4.75 or more with returns dependent on exchange rates, quality and export costs.
Grade A heifers sold up to C$5.75-$6. U.S. buyers are offering US$4.50.
Animals outside the desirable buyer specifications may be discounted.
Ontario Stockyards Inc. reported 1,501 sheep and lambs and 84 goats sold Oct. 23. All lambs sold on a dull demand at prices $10-$15 cwt lower. Sheep and goats sold steady.
Beaver Hill Auction in Tofield, Alta., reported that 1,727 sheep and 179 goats sold Oct. 23.
Wool lambs lighter than 54 lb. were $210-$230 per cwt., 55 to 69 lb. were $197-$237, 70 to 85 lb. were $195-$225, 86 to 105 lb. were $180-$209 and 106 lb. and heavier were $180-$190.
Wool rams were $85-$200 per cwt. Cull ewes were $90-$149.
Hair lambs lighter than 54 lb. were $180-$225 per cwt., 55 to 69 lb. were $184-$216, 70 to 85 lb. were $180-$210, 86 to 105 lb. were $173-$197 and 106 lb. and heavier were $165-$180.
Hair rams were $97-$136 per cwt. Cull ewes were $90-$140.