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More Pressure On Cattle Prices Leading To September Slump

The fed cattle market continues to be under pressure.

Beef Farmers of Ontario report 132 more head were sold last week than the same time last year.

They note fed steer prices were down nearly 5 dollars, and more than 51 dollars from a year ago.

Fed heifers were also down by $3.26 from the week prior, which is more than 55 dollars lower than in 2015.

BFO also notes the Ontario railgrade market decreased through the week.

They report an $11.50 drop from seven days earlier, and an 86 dollar slump from last year.

The organisation says 1,971 cull cows were sold through auction last week. Though that number is 263 less than a year ago, pressure is still being felt.

Cull cow sales averaged $78.37, down $2.60 from the week before.

BFO points out fall stocker sales have started, which is boosting the number of receipts.

4,697 head of stocker and feeder cattle went through auctions last week, up more than 1200 from the week before.

In the Canadian Boxed Beef report, Kevin Greer says that Ontario had a significant lack of beef displayed in its flyers.

He adds September is a seasonally weak time of year for beef displays and not much support should be expected for at least two weeks.

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