Ontario fed cattle prices were mixed on the week and continue to run below a year ago.
The average fed steer price was down 2.70 on the week, heifers up 1.36.
On the year, last week's fed steer price was over 30 dollars lower while the fed heifer price was almost 27 dollars lower.
Beef Farmers of Ontario reports the Ontario railgrade average price was down $1.50 on the week and almost 37 dollars on the year.
The cull cow price was down almost 3 dollars on the week and just over 38 dollars on the year.
BFO says cull cow numbers were just over 200 fewer than the week before and almost 670 more than the same week last year.
Replacement cattle marketings in Ontario were down almost 800 from the week before and 866 from a year ago.
The week ended with good quality grass weights trading steady and the heavier and plainer types under pressure.
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Weekly Cattle Comments - As Supplied by Beef Farmers of Ontario Toll free: 1-866-370-2333 or Local: (519) 824-0334 Fax: (519) 824-9161 Email: markets@ontariobeef.com Comments for the week ending March 17, 2016
There were 611 fed steers and heifers sold through Ontario auction markets this week down 82 head from last week, but 49 more that the same time last year. Fed steers traded from $152.63-$174.83 averaging $165.97 down $2.70 from last week and $30.17 below year ago prices. Fed heifers sold from $149.46-$174.54 averaging $166.57 up $1.36 from last week and $26.96 lower than this time last year. Auction market reports started out this reporting period as strong with prices $1.00-$2.00 higher. As the week progressed the market was active with extra fancy, top quality cattle trading $2.00-$3.00 higher, while all other classes sold mostly steady to selectively.
The Ontario railgrade market dropped $2.00 on the bottom end of the range and $1.00 off the top last Friday with sales now from $282.00-$285.00 dressed for steers and $281.00-$284.00 for heifers and held at these prices for the entire trading period. Delivery of these cattle were anywhere from this week to the first week in April. This week's average price is $1.50 lower than last week and $36.75 below last year at this time.
The Canadian Boxed Beef Report for the week ending March 11th, released by Kevin Grier, notes that "Distributors are buying as needed and not willing to take any position except on the odd end cut if they are able to convince customers of value. Sitting and waiting is the main action. Buyers are looking increasingly to bone-in loin product in order to find value. Top Butts and Sirloin tips are also seeing increased interest given perceived value proposition. Canadian beef features were very poor this week, in fact this week was one of the worst on record for beef features across the country, particularly in the east."
2,473 cull cows sold through auction markets this week which is 202 less than last week and 668 more than this time last year. Cull cows sold from $72.86-$98.05 with a weekly weighted average price of $84.99 down $2.92 from last week and $38.19 below last year at this time. Auction markets reported trade as active with prices starting out as steady to selective. As the week progressed the market was softer to under pressure, with dairy breeds down $2.00-$4.00 and beef breeds barely steady to lower.
A lighter offering of 3,567 replacement cattle sold through auction markets this week down 789 from the previous week and 866 below last year at this time. Auction market reports, the first half of this reporting period, saw steady prices. By midweek, light weights were $5.00 higher while heavier cattle were easier. As the week progressed the market was under pressure with prices anywhere from $2.00-$3.00 lower on the heavier cattle, and $5.00-$10.00 lower in spots on all weights. The week ended with good quality grass weights trading steady and heavier and plainer types under pressure. Actual average prices this week for steers 400-500 lbs was off by $15.60, 500-600 lbs down $7.09, 600-700 lbs down $4.49, 700-800 lbs down $1.56, 800-900 lbs up $0.77, 900-1000 lbs down $1.74 and steers over 1000 lbs averaged $3.69 below last week's price on average. Heifers 300-400 lbs averaged $23.80 more than last week (only 10 head sold), 400-500 lb heifers were down $7.48, 500-600 lbs up $0.91, 600-700 lbs down $5.95, 700-800 lbs down $10.03, 800-900 lbs down $4.42 and heifers over 900 lbs averaged $4.28 below last week on average.
The Quebec Electronic Market this week ranged from $280.00-$281.75 dressed, up $0.31 from last week on average.
Canfax reports that the Alberta cash cattle trade saw dressed steers selling from $280.00-$284.50 with no sales last week to compare to. Heifers sold from $281.00-$284.50 dressed up $4.75 from last week's light trade, on average.
The U.S. cash cattle trade the week ending March 10th was stronger than the previous week, with active to moderate trade late Friday afternoon and early Saturday morning. Live trade ranged from $133.00-$140.00 live with steers averaging $137.93 up $2.17 from the previous week, while heifers averaged $137.81 up $2.28. On the rail steers and heifers sold from $214.00-$220.00 dressed with steers averaging $219.92 up $6.02 from the previous week, while heifers averaged $219.51 up $5.53 on average. (Prices from the USDA Mandatory Price Report) At time of reporting, Friday noon, a handful of sales in Iowa are at $223.00 dressed, up $3.00 from last week, with a handful of sales in Texas at $140.00 live, up $2.00. Bids are sitting at $136.00 live in the south and $220.00-$222.00 dressed in the north while asking prices are holding firm at $142.00-$143.00 live in the south and $224.00-$225.00 dressed in the north. It appears that active trading is going to be delayed today until after the Cattle on Feed Report is released this afternoon. Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.
