For the first time since early 2013, fed cattle prices in Ontario last week were below year ago levels.
Beef Farmers of Ontario says the average fed steer price of 155.37 was down over 8.50 on the week and just over 6 dollars below what it was a year ago.
The average fed heifer price of 155.05 was down over 7 dollars on the week and 82 cents lower than a year ago.
Ontario railgrade prices were 25.50 below the previous week and 15.15 below a year ago.
That was also the first time the railgrade prices were below year-ago numbers since April of 2013.
The cull cow average of 91.54 was down about 7.60 on the week and just over 12 dollars lower than last year.
Beef Farmers of Ontario reports the replacement cattle market was also part of the current downward trend last week.
Prices quoted ranged from easier to 3 to 5 dollars lower - with one report of a drop of 20 dollars per hundredweight on average.
There were about 96 hundred replacements on offer last week - up over 21 hundred on the week and almost 2 thousand more than a year ago.
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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 October 8, 2015 The beef cattle market continued under pressure again this week in all categories of the cattle business. 379 fed steers and heifers sold through Ontario auction markets this week down 30 head from last week and 90 less than the same week last year. Fed steers sold from $147.82-$162.83 averaging $155.37 down $8.54 from last week or 5.5%, and for the first time since April 2013, prices are below year ago levels by $6.11. Fed heifers ranged from $145.69-$160.54 averaging $155.05 down $7.19 from last week, and $0.82 lower than year ago prices. Auction markets all reported the market as under pressure with prices ranging from $3.00-$10.00 lower. A few fancy cattle were reported as bringing premiums. By the end of the week the market was reported as $2.00 easier.
Ontario railgrade prices started out the previous Friday with no bids or sales reported. On Monday, prices came in considerably lower with steers from $258.00-$260.00 dressed and heifers $257.00-$259.00. By Wednesday sales were reported from $255.00-$257.00 dressed for steers and $254.00-$256.00 for heifers. This week's average prices were $25.50 lower than the previous week, or 9.03%. This week also marks the first week since April of 2013 where prices were reported as below last year at this time, with this week's average price down $15.15 from year ago prices.
The cull cow market was also hit very hard this week with 2,362 head on offer down 15 from last week and 174 more than last year at this time. Cull cows sold from $75.31-$109.43 averaging $91.54 down $7.59 from last week and $12.11 lower than last year at this time. Auction markets reported the market as under pressure at lower prices, down anywhere from $2.00-$10.00, with one report of $15.00-$20.00 lower cwt. By the end of the week trade was reported as steady.
The replacement cattle market was no exception when it comes to the current downward trend. There were 9,614 stockers on offer this week at Ontario auction markets, up 2,158 from last week and 1,992 more than last year at this time. Auction markets quoted this week's trade as under pressure. Good quality cattle were almost steady to lower, on a selective demand, while second cut and medium quality were under further pressure. Prices quoted ranged from easier to $3.00-$5.00 lower, with one report of down $20.00 cwt on average. But, by Thursday the market was steady with yearlings fully steady to slightly stronger on the top quality. Actual average prices this week saw steers 400-500 lbs up $8.77 from last week on average, steers 500-600 lbs were down $20.61, 600-700 lbs down $12.75, 700-800 lbs down $11.55, 800-900 lbs down $12.51, 900-1000 lbs down $11.85 and steers over 1000 lbs averaged $14.88 lower than last week on average. Heifers 300-400 lbs were down $7.48 from last week on average, heifers 400-500 lbs down $7.57, 500-600 lbs down $2.12, 600-700 lbs down $7.38, 700-800 lbs down $2.54, 800-900 lbs down $8.71 and heifers over 900 lbs averaged $14.46 lower than last week.
The Quebec Electronic Market this week was reported from $255.25-$257.75 dressed, down $19.79 from last week on average.
Alberta direct trade was too light this week to establish a market trend. Canfax reports: "sales so far this week have seen light trade develop with dressed sales 5.00-10.00 higher than the previous week. This light test of the market does not necessarily represent a true market trend. There is no doubt one plant seems to be more aggressive on the cash market compared to the other. In general dressed bids have been all over the map ranging from 5.00-10.00 higher to 15.00-20.00 lower than the previous week." The US cash cattle trade for the week ending October 1st, as reported by the USDA Mandatory Price Report, saw live prices average $9.50-$10.90 lower while deals on the rail averaged $14.83-$14.96 lower than the week before. Steers and heifers sold from $114.00-$124.00 live with steers averaging $117.72 down from $128.61 the previous week, while heifers averaged $119.81 live down from $129.31. On the rail prices ranged from $183.00-$192.00 dressed with steers averaging $187.48 down from $202.44 while heifers averaged $187.97 down from $202.75. At time of reporting, Friday afternoon, bids are reported at $125.00-$127.00 live in the south, up $6.00-$7.00 from last week, while northern bids are sitting at $190.00-$193.00 dressed which is around at least $3.00 stronger. Asking prices are reported at $128.00-$130.00 live and $203.00-$205.00 dressed. Active trading is expected to develop as soon as the cattle futures close.
Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.
