Beef Farmers of Ontario reports the provincial fed cattle market continued under pressure again last week.
Fed cattle prices were over 7 dollars lower than the week before, with steers over 50 dollars and heifers almost 48 dollars lower than a year ago.
The average cull cow price was down $1.36 from the week before and over 37 dollars lower than a year ago.
Replacement cattle prices ended the week steady to barely steady with second cut cattle and medium quality under further pressure with prices down 5 to 8 dollars per hundredweight.
BFO reports fed cattle volumes were down on the week and from last year, cull cow sales were higher and replacement cattle volumes were higher on the week but lower than a year ago.
As of April 14th, more than 55 thousand replacement cattle have been sold in Ontario auction markets this year.
That's down about 38 hundred head from the same period in 2015 and about 25 hundred from 2014.
===
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 April 14, 2016
The fed cattle market continued under pressure again this week with just 486 fed steers and heifers sold through auction markets, down 78 head from last week and 236 less than the same time last year. Fed steers sold from $137.45-$159.16 averaging $150.49 down $7.18 from last week on average, and $50.21 below this time last year. Fed heifers traded from $133.67-$161.58 averaging $149.67 down $7.56 from last week and $47.86 below year ago prices. Auction market reports early this week saw a selective demand with prices described as under pressure to lower. As the week progressed, medium quality and heavier cattle were under pressure at easier prices, with a few fancy lots selling steady at a premium. By week's end the market was down another $2.00-$3.00 cwt.
The Ontario railgrade market saw prices decline as the week progressed. Steers were reported from $271.00-$275.00 dressed on Monday, but by Wednesday the market had pulled back to $268.00-$273.00, with delivery anywhere from next week to the second week in May. Heifers were the same with prices starting out at $270.00-$274.00 dressed, down to $267.00-$272.00 by Wednesday. This week's average price was $271.75 down $11.00 from two weeks ago (as there was no price last week) and $62.50 below year ago prices. Last year the market topped out the week ending June 18, 2015.
There were 2,437 cull cows sold through auction markets this week up 151 from last week and 610 more that this time last year. Cull cows sold from $73.06-$96.60 averaging $84.38 down $1.36 from last week on average, and $37.68 below this time last year. Auction markets reported trade as steady on good demand, until mid-week when prices were about steady to slightly lower.
Larger volumes of replacement cattle sold on a mixed demand, with 5,346 head sold up 1,444 from last week, but 1,984 below last year at this time. As of April 14, 2016 there have been 55,427 replacement cattle sold through auction markets, which is down 3,886 head from this time in 2015 and 2,569 less than the same time in 2014. Auction markets reported trade as active. All weights and classes of cattle started out the week as steady to slightly lower. As the week progressed good quality cattle went from slightly easier to steady with a couple of special sales seeing prices fully steady to slightly higher, with top quality grass cattle bringing a premium. By week's end the market was about steady to barely steady. Second cut cattle and medium quality were under further pressure with prices lower to down $5.00-$8.00 cwt. Actual average prices this week for steers 400-500 lbs were down $0.30 from last week on average, 500-600 lbs down $6.06, 600-700 lbs up $3.47, 700-800 lbs up $2.94, 800-900 lbs up $2.58, 900-1000 lbs down $1.99 and steers over 1000 lbs averaged $0.72 below last week on average. Heifers 300-400 lbs averaged $6.71 below last week, heifers 400-500 lbs were down $14.68, 500-600 lbs up $4.90, 600-700 lbs up $5.56, 700-800 lbs down $10.96, 800-900 lbs down $6.18 and heifers over 900 lbs averaged $10.27 lower than last week, on average.
The Quebec Electronic Market this week sold from $262.75-$267.00 down $5.81 from last week on average.
The Alberta cash cattle trade was light this week. Canfax reported dressed deals from $277.00-$280.50 for steers, up $4.98 from two weeks ago on average, as there was no reportable trade last week. Heifers sold from $276.50-$277.25 dressed averaging $2.36 stronger than two weeks ago. Canfax noted that US packer interest was quiet with no bids reported. The U.S. cash cattle trade for the week ending April 8th, saw prices improve as the week progressed. The USDA Mandatory Price Report listed live sales for the entire week from $131.00-$136.00 with steers averaging $133.90 and heifers $133.93 which is fully steady to the previous week, however Friday's average price was $135.50 up around $1.50. Dressed deals for the entire week ranged from $212.00-$216.00 with steers averaging $214.81 and heifers $214.31, but Friday's stronger sales averaged $215.62 dressed, up $1.00 from the week before. This week, a very limited test was noted in the north on Wednesday with live sales from $135.00-$136.00 which is fully steady to the end of last week but $1.00-$2.00 stronger than the weekly average price. Business in the north ranged from $210.00-$216.00 dressed, mostly $214.00-$216.00, which is fully steady to last week. Light trade on Thursday ranged from $131.00-$135.00 live and $212.00-$216.00 dressed, averaging fully steady to last week. Today trade in the south is up $1.00 on average at $134.00 live, while business in the north is steady at $215.00 dressed. Business is expected to continue throughout the afternoon. Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.
