Sarnia

Beef Farmers Still Holding Back Cattle

The Beef Farmers of Ontario say producer reports for direct-to-packer sales were light this week.

BFO suggests many are holding back cattle, waiting for better prices.

Last week's prices improved by 3 dollars throughout the week but are still 45 dollars below what they were last year at this time.

The farmers report 35,634 head of fed steers and heifers have been exported from Ontario to the U.S. up until November 5th.

That's an increase of more than 6,400 from 2015.

Conversely, cull cow exports are down by 1,211 so far this year at 95,867.

Fed steer prices last week were up $2.02 from the week prior at an average of $128.92.

Fed heifers averaged $125.29, a bump of $1.14 for the week.

Both average prices are still down about 27 dollars on the year.

Cull cows have climbed to within 10 dollars of last year's prices, picking up 81 cents throughout the week to average $69.45.

BFO also notes nearly 223,000 stocker cattle have sold through auction so far this year.

While that's down about 1,000 head from last year, the organization feels that number could leap up as producers have likely been holding back waiting for prices to climb.

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