The weaker Canadian dollar doesn't seem to be boosting Ontario cattle exports to the U-S.
Fed cattle exports through Ontario ports as of the end of November were down about 82 hundred head from the same time last year.
Beef Farmers of Ontario reports cull cow exports were down about 19 hundred over that same period.
Last week's Ontario fed cattle marketings were up 230 on the week and 478 from a year ago.
Prices were down on both the week and the year.
The average fed steer prices was down 1.25 on the week, 25.32 on the year.
Fed heifers were down 77 cents on the week and just over 20 dollars lower on the year.
Cull cow marketings were down on both the week and the year, with the average price running 1.21 lower on the week and 22.83 on the year.
There were about a thousand fewer replacement cattle sold last week than the week before - down about 14 hundred from a year ago.
BFO says most weights started the week trading higher and ended the week trading at steady to lower prices.
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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 December 10, 2015 Larger receipts of fed steers and heifers were on offer this week at auction markets with 745 head sold, up 230 from last week and 478 more than this time last year. Fed steers sold from $144.48-$158.56 averaging $153.01 down $1.25 from last week and $25.32 less than year ago prices. Fed heifers traded from $143.41-$156.83 averaging $151.35 down $0.77 from last week on average, and $20.10 below last year at this time. Auction markets reports started the week on selective demand with prices barely steady to $1.00-$2.00 lower, with fancy cattle bringing premiums. By Wednesday sales were fully steady to strong on the top quality fed cattle, with all other classes trading just steady and Thursday saw a steady market.
The CDN dollar continued to decline this week and has not dipped this low compared to the US dollar since May of 2004. Despite the decline in the loonie, fed steer and heifer exports are down year over year, but there has been improvement recently. YTD fed cattle exports to the US through Ontario ports as of November 28, 2015 totalled 31,596 head, down 8,247 head from the same date in 2014 and 13,267 less than 2013 YTD. Cull cow exports are also down with November 28, 2015 total exports to the US through Ontario ports at 103,864 head, down just 1,926 from 2014 YTD, and 15,929 less than the same time in 2013.
Ontario railgrade prices continued on a downward trend as the week progressed. Fed steers started out at $256.00-$264.00 dressed the previous Friday, down to $256.00-$261.00 on Monday and $254.00-$260.00 by Wednesday, with delivery dates varying by two weeks. Heifers followed the same pricing trend starting the week at $255.00-$263.00 dressed and declining to $253.00-$259.00 by Wednesday. This week's prices are $3.75 lower than last week on average and $38.50 lower than the same time last year.
Slightly lighter receipts of 2,511 head of cull cows sold through auction markets, down 64 head from last week and 963 less than last year at this time. Cull cows sold from $67.71-$92.92 averaging $79.79 down $1.21 from last week and $22.83 below year ago prices. Auction markets reported active trading at steady prices for the most part, with demand selective by week's end at about steady to easier prices.
The replacement cattle market saw a mixed demand with 5,543 head sold through auction markets this week, down 1,005 head from last week and 1,427 less than the same week last year. Auction market reports for light weights started out $2.00-$3.00 higher, to steady as the week progressed with selective pricing and ended the week barely steady to lower. The heavier weight replacements also started out as $2.00-$3.00 higher, but by mid-week prices were steady on a selective demand, with the heaviest weights under pressure with prices down $3.00-$5.00 cwt. By the end of the week, all weights and classes were reported as trading actively at steady to lower prices. Actual average prices for this week for steers 400-500 lbs were down $6.70 from last week, steers 500-600 lbs averaged $1.82 lower, 600-700 lbs down $2.82, 700-800 lbs down $3.37, 800-900 lbs were down $7.13, 900-1000 lbs down $11.47 and steers over 1000 lbs averaged $18.22 lower than last week on average. Heifers 300-400 lbs averaged $3.78 lower than last week, 400-500 lbs up $5.10, 500-600 lbs down $1.46, 600-700 lbs up $4.18, 700-800 lbs up $5.54, 800-900 lbs averaged $13.54 lower and heifers over 900 lbs averaged $5.64 below last week on average.
The Quebec Electronic Market for fed steers and heifers this week traded from $252.00-$253.50 dressed, down $3.89 from the previous week on average.
Alberta direct trade was too light this week to establish a market price report. Canfax reports: "so far this week we have seen light trade develop with dressed sales anywhere from 3.00-8.00 lower than the previous week. Cash to futures basis levels strengthened which did encourage producers to market cattle. To keep weights under control, cattle that needed to be moved were marketed."
The US cash cattle trade the week ending December 3rd saw lower prices. The USDA Mandatory Price Report listed live sales from $119.00-$125.00 with steers averaging $123.39, down $2.95 from the previous week, which was at $126.34. Live heifers averaged $123.30 down from $126.13 the previous week which is a $2.83 decline. On the rail prices ranged from $190.00-$195.00 with steers averaging $193.85 down $2.54 from the previous week which averaged $196.39, while heifers averaged $194.48 down from $196.14 the previous week, a decline of $1.66. At time of reporting on Friday, today's market is quiet with just some clean up trade possible. Business this week has been moderate to active with prices under pressure. The USDA Mandatory Price report lists live sales from $115.00-$119.00 with steers averaging $118.45 down $4.94 from last week on average, while heifers averaged $118.34 down $4.96 from the previous week. Dressed deals in the north ranged from $184.00-$188.00 dressed, with steers averaging $187.36 and heifers $187.60 which is $6.49 and $6.88 lower on average respectively.
Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.
