HOGS RISE
Rising U.S. pork prices, particularly bellies, supported hog prices.
The U.S. pork cutout hit the highest level in two years.
The price for bellies, which are used to make bacon, were starting to close in on the record price set in April 2014.
Demand for bacon is good during the heat of summer as consumers turn to BLT sandwiches.
The U.S. national live price average for barrows and gilts was US67.67 per hundredweight July 7, up from $66.82 per cwt. June 30.
Read Also
Indonesia seeks to appease U.S. by buying more wheat
Competition could increase in the world’s second largest wheat import market as Indonesia scrambles to find ways to avoid high American tariffs.
U.S. hogs averaged $86.34 on a carcass basis July 7, up from $85.76 June 30.
The U.S. pork cutout was $104.96 per cwt. July 7, up from $102.92 June 30.
The estimated U.S. weekly slaughter for the holiday shortened week to July 8 was 1.849 million, down from 2.185 million in the previous holiday shortened week.
Slaughter was 1.826 million last year at the same time.
In Canada, the average Signature Five price for the week to July 8 was C$209.71 per 100 kilograms, down from $210.82 the week before. On a per hundredweight basis, the average price was $95.12, down from $95.63 the previous week.
BISON STEADY
The Canadian Bison Association said Grade A bulls in the desirable weight range sold at prices up to C$6.30–$6.50 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$6-$6.30. U.S. buyers are offering US$4.50.
Animals outside the desirable buyer specifications may be discounted.
LIGHT LAMBS DOWN
Ontario Stockyards Inc. reported that 721 sheep and 28 goats sold July 4. Light lambs sold under pressure at $25-20 per cwt. lower. Sheep sold steady. Good goats were barely steady.
