Beef Farmers of Ontario says they're starting to see average replacement cattle prices more in line with pre-holiday season prices.
BFO says volumes were extremely light, making average prices somewhat inconsistent.
Auction markets reported very good replacement cattle demand with calves steady to stronger early in the week then dropping back to steady to barely steady by week's end.
There were almost 5 thousand replacements sold in Ontario last week, up about 15 hundred from the previous week and almost 500 more than last year at this time.
Fed cattle marketings were down last week by 45 head from the previous week, by 236 head from a year ago.
Fed steers averaged 186.59, heifers 184.03.
That's 35 cents higher than the previous week for steers, 46 for heifers.
Those prices were almost 52 dollars higher than last year for steers and just over 46 dollars higher for heifers.
BFO reports Ontario rail grade prices were all over the map last week, averaging fully steady to the previous week and running over 85 dollars higher than last year.
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Weekly Cattle Comments As Supplied by Beef Farmers of Ontario Ph: Toll free: 1-866-370-2333 or (519) 824-0334 Fax: (519) 824-9161 Email: markets@ontariobeef.com Comments for the week ending January 22, 2015 Ontario auction markets sold 666 fed steers and heifers this week, down 45 head from last week and 236 less than last year at this time. Fed steers sold from $178.96-$195.30 live, averaging $186.59 up $0.35 from last week and $51.76 stronger than year ago prices. Fed heifers traded from $174.00-$191.57 averaging $184.03 up $0.46 from last week and $46.01 stronger than last year at this time. Auction markets reported good quality cattle as trading steady, with second cut cattle a little easier. Extra fancy lots continue to bring premium prices.
Ontario rail grade prices have been all over the map this week. Steers started out the previous Friday at $316.00 dressed. By Monday prices were reported at $314.00-$318.00 and by Wednesday $310.00-$317.00 with delivery dates varying. Heifers followed the same pricing trend starting the previous Friday at $315.00 dressed, to $313.00-$317.00 by Monday and $309.00-$316.00 by Wednesday. This week's average prices are fully steady to last week and $85.75 stronger than last year at this time.
3,178 cull cows were on offer at auction markets this week, up 27 head from last week but 1,279 less than this time last year. Cull cows saw average prices set a new weekly price again this week with sales ranging from $97.28-$130.50 averaging $114.73 up $1.12 from last week and $39.49 stronger than last year at this time. Auction markets reported a good demand with prices fully steady to stronger.
Auction markets sold 4,989 replacement cattle this week up 1,539 head from last week and 482 more than last year at this time. Auction markets all reported a very good demand with calves early in the week steady to stronger, up $3.00-$5.00 in spots, but steady to barely steady by week's end. Yearlings started out fully steady early week to steady to barely steady by weeks end. Heifers were reported as lower. Actual average prices this week saw steers 400-500 lbs up $13.02 from last week, 500-600 lbs down $2.05, 600-700 lbs up $4.35, 700-800 lbs down $7.05, 800-900 lbs up $0.69, 900-1000 lbs up $1.36 and steers over 1000 lbs averaged $0.78 stronger than last week's average prices. Heifers 300-400 lbs were down $0.42 on average from last week, 400-500 lbs down $3.40, 500-600 lbs down $3.43, 600-700 lbs down $7.05, 700-800 lbs up $20.27, 800-900 lbs down $7.93 and heifers over 900 lbs averaged $3.37 lower than last week. Over the holiday season, volumes were extremely light and averages somewhat inconsistent for that reason, now that volumes are starting in increase we are seeing average prices more in line with the pre-holiday season prices.
The Quebec Electronic Market this week traded from $313.00-$313.25 dressed, up $0.12 on average from last week.
Alberta direct trade was very light this week. Canfax reports: "sales so far this week have seen light trade develop with dressed sales 8.00-9.00 lower than the previous week. With many producers looking for at least steady money there will be a few cash cattle carried into next week. Cash to futures basis levels did weaken this week. Sale volumes so far this week are too light to establish a weighted average steer or heifer price."
The US cash cattle trade surfaced early again this week. Light trade developed in parts of the north on Tuesday with live prices $3.00-$4.00 lower from $159.00-$160.00 live and dressed deals down $7.00 from last week at $256.00 dressed. Wednesday, the market saw a few scattered deals in the north which were steady to Tuesday's decline, at $159.00-$160.00 live and $256.00-$257.00 dressed. Thursday am, light trade in the south was at $160.00 which was steady to the week's decline. Friday morning a few bids are noted at $255.00 dressed, but no sales have surfaced at this time. Asking prices on the remaining cattle are at $162.00 live and $260.00 plus dressed.
Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.
