Ontario fed cattle prices posted moderate week-over-week price gains in a holiday-shortened trading week last week.
However, Beef Farmers of Ontario says the average fed steer price is still almost 29 dollars lower than a year ago and the average fed heifer price is down just over 20 dollars on the year.
The Ontario railgrade market was steady to the week before but almost 37 dollars below a year ago.
The average cull cow price was down almost 60 cents on the week and just over 37 dollars on the year.
Ontario good quality grass type replacements sold barely steady to higher, plainer grass types and heavier replacements sold under pressure.
BFO reports replacements were the only category were last week's volume was higher than both the week before and the same week in 2015.
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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 23, 2016
Please note that volumes are lower this week due to the Good Friday Holiday. This week includes data from the previous Friday to Wednesday of this week.
There were 299 fed steers and heifers sold through Ontario auction markets this week down 611 head from last week, and 234 less than last year at this time. Fed steers traded from $156.05-$183.42 averaging $166.71 up $0.74 from last week and $28.78 below year ago prices. Fed heifers sold from $158.50-$174.30 averaging $166.69 up $0.12 from last week and $20.28 lower than this time last year. Auction market reports started out with top quality trading higher will all other classes selling selectively. As the week progressed, trade was active with prices steady to stronger, up $1.00-$2.00. The market ended the week about steady.
The Ontario railgrade market held fully steady to last week with no changes reported. Sales for this week ranged from $282.00-$285.00 dressed for steers and $281.00-$284.00 for heifers. This week's average price was $283.50 for steers which is identical to last week's average, but $36.75 below last year at this time, which averaged $320.25 for steers.
The Canadian Boxed Beef Report for the week ending March 21st, released by Kevin Grier, notes that "Demand has been very typically slow as usual for this time of year before Easter. There is little spot business being done given slow movement. Big retailers are fishing for the long weekend in May. Most of April is put to bed with minimal featuring but lots of grinds. Distributors are staying hand to mouth and not stocking up." This week in Ontario beef features improved with 5 out of 9 major retailers featuring fresh beef aggressively.
1,640 cull cows sold through auction markets this week down 833 from last week, and 401 less than last year at this time. Cull cows sold from $69.92-$97.27 averaging $84.42 down $0.57 from last week and $37.28 lower than year ago prices. Auction market reports started this reporting period as softer to under pressure at lower prices, down $2.00-$4.00 in spots. Early to mid-week the market was steady on good demand and ended the week steady to slightly higher.
4,121 replacement cattle sold through auction markets this week up 554 from last week and 250 more than last year at this time. Auction markets reported good quality grass type cattle as anywhere from barely steady to higher. Plainer grass types were under pressure. Heavier cattle sold under pressure at lower prices and ended the week steady to the week's decline. Actual average prices this week for steers 400-500 lbs was up $4.38 from last week, 500-600 lbs down $5.81, 600-700 lbs down $4.24, 700-800 lbs down $1.21, 800-900 lbs down $11.08, 900-1000 lbs down $5.09 and steers over 1000 lbs averaged $2.99 below last week's price on average. Heifers 400-500 lb were down $12.50 on average, 500-600 lbs up $3.62, 600-700 lbs down $6.58, 700-800 lbs down $6.85, 800-900 lbs down $5.81 and heifers over 900 lbs averaged $3.95 lower than last week on average.
The Quebec Electronic Market this week ranged from $279.95-282.00 dressed, down $0.75 from last week on average.
The Alberta cash cattle trade remains untested at time of reporting Thursday noon. Canfax writes: "This week's show-list has been compiled with volumes larger than the previous week. Dressed bids are sounding fully steady. US packer interest has been noted once again, similar to last week US buyers are wanting to formula price cattle. We did come across a negotiated cash bid and depending on freight and dressing percent US bids are working back on either side of 170.00 on a live basis." The U.S. cash cattle trade last Friday sold on a stronger market. The USDA Mandatory Price report lists live sales for the week ending March 17th, from $138.00-$141.00 with steers averaging $139.18 up $1.25 from the previous week on average, while heifers averaged $139.17 up $1.36. On the rail steers and heifers sold from $220.00-$225.00 dressed with steers averaging $222.89 up $2.97 from the previous week on average, while heifers averaged $222.99 up $3.48. This week, a very light test in Nebraska was noted on Wednesday from $216.00-$218.00 dressed, majority at $218.00, down around $5.00 from last week on average. At time of reporting Thursday noon, bids are sitting at $135.00-$136.00 live in the south, down around $3.00-$4.00 from last week's weighted average prices. Sales in the north have surfaced at $218.00 dressed, steady to Wednesday's trade, with the remained of bids sitting from $216.00-$218.00 dressed. Asking prices have been revised lower to $140.00 live in the south and $220.00 plus dressed in the north as cattle futures have been under pressure this week. Although active trading was expected to develop today in order to get business completed before the holiday weekend, if sellers hold out for better prices business could be delayed until Friday.
Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.
