Beef Farmers of Ontario calls last week another tough one for the cattle market.
Average fed steer and heifer prices were almost 5 dollars lower than the week before.
Steers were over 45 dollars lower than a year ago, heifers almost 38 dollars lower.
Cull cow prices were down 1.62 on the week, 38.12 on the year.
The week ended with replacements barely steady to softer with all weights down as much as 7 dollars per hundredweight.
Fed cattle marketings were up 56 head on the week, cull cows down 316 and replacements up over a thousand head.
Beef Farmers of Ontario also reports exports of fed cattle to the U-S through Ontario ports is up about 52 hundred head so far this year.
Total fed cattle exports were 47 thousand 5 hundred and 35 as of the week ending March 19th.
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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 April 7, 2016
It was another very tough week in the beef cattle market, in majority of the weights and classes. 564 fed steers and heifers sold through auction markets this week up 56 head from last week but 108 less than last year at this time. Fed steers sold from $150.48-$163.41 averaging $157.67 down $4.75 from last week and $45.65 below year ago prices. Fed heifers ranged from $145.96-$164.79 averaging $157.23, down $4.90 from last week and $37.82 below year ago prices. Auction market reports started as steady to slightly easier. As the week progressed the market was called under pressure with good quality cattle down $3.00-$5.00 with second cut cattle even lower. The week ended off with all classes down $3.00-$4.00 cwt.
The Ontario railgrade market was virtually non-existent this week. Since April 1, 2016 there have been no bids or sales reported. Producers report that packers were not interested in procuring cattle this week with some bought out to the end of April, although others were a little more current but still not showing much interest. Carcass weights continue very high as cattle sit in feedlots waiting for the market to improve.
Exports of fed cattle to the US, through Ontario ports, totalled 47,535 head as of March 19, 2016, which is up 5,242 head from the same time in 2015 and 307 more than March 19, 2014. Slaughter steers and heifer volumes are at 12,637 head as of Mar 19, 2016 up from 9,034 on this date in 2015, and up from 8,925 on Mar 19, 2014. Cull cow exports are also up from last year totalling 30,226 head going south through Ontario ports, as of Mar 19, 2016, which is up 662 from last year, but 1,544 less than the same time in 2014. Bull export volumes are up from last year but below 2014 levels at this time.
2,286 cull cows sold through auction markets this week down 316 from last week and 525 more that the same time last year. Cull cows ranged from $73.58-$97.95 averaging $85.74 down $1.62 from last week and $38.12 below year ago prices. Auction markets reported trade as steady to easier early in the week, but by week's end the market was barely steady to under pressure with both beef and dairy breeds trading $3.00-$4.00 cwt lower.
Larger receipts of replacement cattle came to market this week totalling 3,902 head, up 1,067 head from last week and 29 more than last year at this time. Early week auction market reports saw good quality grass cattle trading steady to slightly stronger, with plainer and fleshier light weights selling under pressure. By weeks end the market for lighter cattle was barely steady to softer with some weights down $7.00 cwt. Yearlings/heavier cattle started this reporting period as active at higher prices. As the week progressed the market was selective with prices from barely steady to easier, and ended the week softer to under pressure with prices down $5.00-$7.00 cwt in spots. Actual average prices this week for steers 400-500 lbs were down $18.04 from last week on average, steers 500-600 lbs were up $5.52, 600-700 lbs down $14.89, 700-800 lbs up $1.20, 800-900 lbs up $1.92, 900-1000 lbs down $6.29 and steers over 1000 lbs sold $15.58 below last week's weighted average price. Heifers 300-400 lbs were down $34.39 from last week, 400-500 lbs down $10.23, 500-600 lbs down $5.06, 600-700 lbs down $3.72, 700-800 lbs up $5.58, 800-900 lbs up $9.90 and heifers over 900 lbs averaged $1.86 stronger than last week's weighted average price. The Quebec Electronic Market this week sold from $269.75-$271.25 down $6.81 from last week on average.
The Alberta cash cattle trade was light on Thursday. Canfax reports: "dressed sales and bids are reported from 276.00-278.00 delivered. Local packer interest in the cash market was mixed with one plant more interest in owning cattle compared to the other. Fed prices continue to hover around annual low levels."
The U.S. cash cattle trade for the week ending April 1, as reported by the USDA Mandatory Price Report lists live sales from $130.00-$136.00 live, with steers averaging $133.83, down $2.29 from the previous week on average, while heifers averaged $134.20 down $2.02. On the rail trade ranged from $213.00-$216.50 with steers averaging $214.83 dressed down $2.84 from the previous week on average, while heifers averaged $214.47 down $3.28. So far this week some scattered to light trade has been reported on both Tuesday and Wednesday in the north and the south. Business in the south was fully steady at $133.00 live while deals in the north were $3.00 lower at $212.00 dressed. But, on Thursday the market was stronger with deals in the south steady to $1.00 higher from $133.00-$134.00 live, while deals in the north ranged from $214.00-$215.00 dressed, which is steady to $1.00 lower than last week, but $2.00-$3.00 higher than earlier this week. Today, bids in the south are at $134.00 live with no sales reported. A light trade this morning in the north is $1.00-$2.00 higher than Thursday at $216.00 dressed, which is also $1.00 higher than last week on average. At this point it appears that trade in the south is finished for the week, but the north still has business to complete. Asking prices are at $135.00-$136.00 live in the south and $218.00 plus dressed in the north. Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.
