HOGS RALLY HIGHER
Strong demand, rising pork prices and attractive packer margins pushed cash hog prices higher.
The U.S. national live price average for barrows and gilts was US$53.50 per cwt. Feb. 10, up from $51.88 per cwt. Feb. 3.
U.S. hogs averaged $70.72 on a carcass basis Feb. 10, up from $66.90 Feb. 3.
The U.S. pork cutout was $85.09 per cwt. Feb. 10, up from $84.46 Feb. 3.
The estimated U.S. weekly slaughter for the week to Feb. 11 was 2.364 million, up from 2.327 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 2.278 million last year at the same time.
In Canada, the Feb. 10 Signature Five price was C$168.53 per 100 kilograms, up from $159.05 the week before.
On a per hundredweight basis the price was $76.44, up from $72.14 the week before.
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.
SHEEP STEADY TO STRONGER
Ontario Stockyards Inc. reported that 528 sheep and lambs and 65 goats traded Feb. 6.
New crop lambs sold barely steady. All other lambs, goats and thick sheep were steady.
Lean sheep were $5 to $10 per cwt. higher.
