A large volume of second cut and over thirty month cattle pressured Ontario fed cattle average prices lower last week.
The 535 head of fed cattle on offer last week were down 57 from the previous week and 42 less than last year.
The average fed steer price of 195.49 was down 65 cents from last week but almost 45 dollars stronger than a year ago.
Heifers averaged 186.97, down almost 7 dollars from the previous week and just over 45 dollars stronger than a year ago.
Beef Farmers of Ontario reports rail grade prices averaged 1 dollar stronger than the previous week and over 71 dollars higher than last year.
Last week's just over 2 thousand cull cows averaged 121.70 - down about a dollar 50 on the week, over 29 dollars stronger than last year.
Those marketings were up 236 head from the previous week but 764 fewer than in 2014.
BFO says replacement cattle receipts were just over 38 hundred head last week - down 562 on the week, just over 11 hundred below a year ago.
Ontario auction markets reported trade on light weights and grass types very strong with prices 5 to 20 dollars higher while heavier replacement cattle sold steady to fully steady.
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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 March 26, 2015 There were 535 fed steers and heifers sold through auction markets this week down 57 head from last week and 42 less than last year at this time. Fed steers ranged from $186.46-$202.20 averaging $195.49 down $0.65 from last week but $44.99 stronger than last year at this time. Heifers sold from $168.85-$197.75 averaging $186.97 down $6.56 from last week and $45.13 stronger than year ago prices. It is important to note that a larger volume of second cut and OTM cattle on offer this week pressured averages lower, most notably the heifers. Auction markets reported active trading on good demand with prices steady to strong. Fancy cattle were selling at a premium.
Ontario rail grade prices bounced around a little this reporting period with steers starting out the previous Friday at $318.00-$322.00 dressed. By Monday prices were at $318.00-$321.00 and then on Wednesday they improved to $320.00-$322.00. Heifers followed the same trend with prices starting at $317.00-$321.00, to $317.00-$320.00 on Monday and $319.00-$321.00 by Wednesday. This week's average prices are $1.00 stronger than last week and $71.50 cwt higher than last year at this time.
Canadian boxed beef prices on March 6th averaged $3.0568 per pound for Canadian AAA beef, up from $3.0322 the previous week and $2.2891 the same time in 2014, and compared to the USDA Choice average price of $3.1129 CDN the week ending March 6th. AA Canadian beef averaged $3.0366 up from $2.9970 the previous week and $2.2849 a year ago at this time, and compared to USDA Select at $3.0738 on average the week ending March 6th. (CDN prices are based on negotiated prices and volumes of boxed beef cuts and on average industry cutting yields. Prices are supplied by Canfax and CMC)
There were 2,041 cull cows sold through auction markets this week up 236 head from last week but 764 less than last year at this time. Cull cows traded from $101.88-$138.98 averaging $121.70 down $1.48 from last week and $29.42 stronger than last year at this time. Auction markets reported a steady market until week's end when prices were called steady to down slightly.
Lighter receipts of replacement cattle came to market this week with auctions reporting 3,871 head sold, down 562 from last week and 1,126 less than last year at this time. Auction markets reported trade on light weights and grass type cattle as very strong with prices anywhere from $5.00-$20.00 cwt stronger. Heavier cattle were steady to fully steady with good buyer interest. Actual average prices this week saw steers 400-500 lbs average $5.90 stronger than last week, 500-600 lbs steers down $4.51, 600-700 lbs up $11.68, 700-800 lbs up $9.98, 800-900 lbs up $2.84, 900-1000 lbs up $1.55 and steers over 1000 lbs averaged $6.53 higher than last week on average. Heifers from 300-400 lbs averaged $4.74 lower than last week while heifers 400-500 lbs were up $1.19, 500-600 lbs up $10.87, 600-700 lbs up $13.12, 700-800 lbs down $2.14, 800-900 lbs up $0.69 and heifers over 900 lbs averaged $4.14 stronger than last week on average.
The Quebec Electronic Market this week reported sales at $320.50 dressed, down $5.13 from last week on average. Alberta direct trade was light to moderate this week. Canfax reported sales on Wednesday from $196.00-$198.00 live for steers and $197.25 for heifers, which is steady to last week. At time of reporting the final price report for Alberta has not been released, however Canfax reports: "dressed bids and sales are as much as 7.00 higher than the previous week. Tentatively cash to futures basis levels did weaken this week but remain stronger than the five year average. Historically strong prices continues to encourage producers to market cattle, cash volumes will be cleaned up this week."
The US cash cattle trade the week ending March 19th developed late Friday afternoon with prices $2.00-$2.50 higher and moderate sale volumes reported. According to the USDA Mandatory Price Report steers and heifers sold from $160.00-$165.50 live with steer's weekly weighted average price at $163.55 up from $161.26 the previous week, while heifers averaged $163.73 up from $161.10. On the rail steers and heifers were reported from $258.00-$261.00 dressed with steers weighted average price for the week at $259.79 up from $257.17 the previous week while heifers averaged $259.78 up from $256.98. This week the market has remained untested. At time of reporting bids are sitting at $160.00 live in the south and $258.00-$260.00 dressed in the north. A couple of head have sold at $263.00 dressed, but certainly not enough to establish a market. Packer buying interest is improving as the day progresses but sellers are holding asking prices firm at $165.00-$166.00 live and $265.00 dressed.
Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.
