Hogs down
Hog supply was ample to packers’ needs and U.S. cash prices fell.
Heavier carcass weights are helping to make up for the reduced slaughter.
Pork prices sharply fell.
Chicago hog futures fell to a Relative Strength Index of 16. An RSI below 30 suggests a market is technically oversold and subject to an upward correction.
Iowa-southern Minnesota hogs delivered were $80.50 US per hundredweight Aug. 15, down from $86-$87 Aug. 8.
On a carcass basis, U.S. hogs averaged $105 per cwt. Aug. 15, down from $113.56 Aug. 8.
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The U.S. pork cutout plunged to $111.80 on Aug. 15, down from $124.99 Aug. 8.
U.S. estimated weekly slaughter for the week to Aug. 16 was 2.017 million, up from 1.919 million Aug. 9. Slaughter was 2.185 million last year at the same time.
Slaughter so far this year is down almost five percent from last year at the same point.
Bison market steady
The Canadian Bison Association said Grade A bulls in the desirable weight range were mostly $4 Cdn per lb. hot hanging weight with a few sales to $4.10.
Grade A heifers sold for $3.85 with sales to $3.95.
Animals outside the desirable buyer specifications may be discounted.
Lambs steady
Beaver Hill Auction in Tofield, Alta., reported 1,006 sheep and 63 goats sold Aug. 11.
Wool lambs lighter than 54 lb. were $155-$197 per cwt., 55 to 69 lb. were $170-$195, 70 to 85 lb. were $166-$199, 86 to 105 lb. were $159-$179 and 106 lb. and heavier were $155-$175.
Wool rams were $56-$70 per cwt. Cull ewes were $50-$113 and bred ewes were $100-$175 per head.
Hair lambs lighter than 54 lb. were $145-$190 per cwt., 55 to 69 lb. were $165-$190, 70 to 85 lb. were $156-$182, 86 to 105 lb. were $150-$174 and 106 lb. and heavier were $150-$169.
Hair rams were $56-$76 per cwt. Cull ewes were $51-$69 and ewe-lamb families were $150-$250 per unit.
Feeder kids lighter than 60 lb. were $195-$260. Good kid goats lighter than 70 lb. were $185-$260. Those heavier than 70 lb. were $195-$265 per cwt.
Nannies were $67.50-$195 per cwt. Billies were $125-$175.
Ontario Stockyards Inc. reported 1,549 sheep and lambs and 24 goats traded Aug. 11.
All classes of lambs sold on a strong demand at steady prices. Sheep traded slightly stronger. All classes of goats sold steady.
