Ontario fed cattle marketings were down while prices were higher last week.
Beef Farmers of Ontario reports 90 fewer head sold on the week with the average fed steer price up 65 cents and the average fed heifer price up over 6 dollars from the week before.
Ontario railgrade prices were $2.50 lower than the week before.
Cull cow marketings were down about 80 head from the previous week with he average price up over 5 dollars.
Replacement cattle sales were down 330 head on the week.
Ontario auction markets reported steady to higher prices for replacements on an active trade.
BFO says Kevin Greer's Canadian Boxed Beef market report still has Canadian demand very poor.
The report says that market lacks direction in terms of order and overall tone, with Canadian beef not moving from the stores or out of the restaurant kitchens.
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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 May 12, 2016
The live fed cattle market was stronger this week with 433 head on offer, down 90 from last week and 49 less than the same time last year. Fed steers ranged from $139.75-$156.27 averaging $148.34 up $0.65 from last week, but $48.54 below year ago prices. For the most part fed steers this week averaged between $150.00-$155.00 with one market much lower due to the quality of cattle sold, which in turn pressured the average price lower overall. Fed heifers sold from $143.91-$160.38 averaging $153.05 up $6.52 from last week and $38.16 lower than this time last year. Trade improved as the week progressed with auction market reports starting out this reporting period as active at prices $1.00 to considerably higher. By the end of this reporting period, the market was strong with prices up at least $3.00-$5.00 cwt. Extra fancy kinds brought further premiums.
The Ontario railgrade market started this reporting period with $5.00 dropped off the top end of the range and held fully steady for the week on very light receipts. Steers were reported from $248.00-$250.00 dressed with heifers from $247.00-$249.00 with delivery in May. This week's average prices were $2.50 below last week and $81.75 below last year at this time. Last year the rail prices peaked the week ending June 18, 2015, while in 2014 the market peaked the week ending August 7, 2014, before starting the seasonal decline.
The Canadian Boxed Beef market reported by Kevin Greer for the week of May 9th notes: "Canadian demand remains very poor. Beef is not moving from the stores or out of the restaurant kitchens. The market lacks direction in terms of order and overall tone. Most buyers are more uncertain than usual about direction and tactics to take. Distributors look for opportunities but mostly continue to fill limited orders as necessary. Canadian beef features were average this week, at least in terms of beef's share of fresh meat ads on the front page of flyers. Eastern Canada from the Maritimes to Ontario, is seeing plenty of tenders from the various Loblaws banners with the best pricing in Ontario. The grocers seemed to take a temporary break from showing grinds."
The cull cow market also saw a stronger demand this week with 1,977 head sold through auction markets, down 83 from last week and 81 more than this time last year. Cull cows sold from $75.11-$102.06 averaging $87.81 up $5.35 from last week but $33.92 below year ago prices. Auction markets reported trade as steady to stronger on a good demand at the beginning of this reporting period. As the week progressed prices were reported as fully steady to $2.00-$5.00 higher.
Replacement cattle volumes were slightly lower on a stronger demand. 6,119 head sold through auction markets down 330 from the previous week and 133 more than last year at this time. Auction markets reported trade as steady to higher prices on an active trade. As the week progressed cattle sold on a good demand with prices fully steady to $3.00-$5.00 higher. Actual average prices this week for steers 400-500 lbs were up $16.24 from last week on average, 500-600 lbs up $12.91, 600-700 lbs down $2.12, 700-800 lbs up $5.94, 800-900 lbs up $9.96, 900-1000 lbs down $0.78 and steers over 1000 lbs averaged $8.02 higher than last week, on average. Heifers 300-400 lbs were down $4.27 from last week on average, 400-500 lbs up $2.78, 500-600 lbs up $8.65, 600-700 lbs down $1.73, 700-800 lbs up $8.44, 800-900 lbs up $4.48 and heifers over 900 lbs averaged $4.72 higher than last week on average.
The Quebec Electronic Market this week sold from $250.75-$254.00, up $6.45 from last week on average.
The Alberta cash cattle trade, was light at higher prices. Canfax reports: "light trade develop with dressed sales 9.00-10.00 higher than the previous week. We have not seen any live sales reported but packers have raised their bids. At one point packers were bidding in the upper 150's on a live basis and now bids have been noted in the low 160's. Packers are still sounding short bought, cattle that have traded this week are going to be slaughtered by the end of the month."
The U.S. cash cattle trade for the week ending May 5th, reported by the The USDA Mandatory Price Report, listed live sales from $119.00-$130.00 live, with steers averaging $126.59 up $2.80 from the previous week, while live heifers averaged $126.62 up $2.83. On the rail, prices ranged from $195.00-$200.00 dressed with steers averaging $198.66 up $4.50 from the previous week, while heifers averaged $198.62 up $3.44. On Wednesday of this week, an extremely light volume of sale's on some top quality cattle were noted in the north at $205.00 dressed, up $6.00 from last week, otherwise the market was untested. Thursday, trade was active with packers spending more money. The USDA Mandatory Price Report listed live sales from $128.00-$135.00 with steers averaging $132.63 up $6.04 from last week on average, while heifers averaged $133.03 up $6.41. On the rail steers and heifers sold from $200.00-$213.00 dressed with steers averaging $208.55 up $9.89 from last week, while heifers averaged $208.36 up $9.74. Today the market is quiet with business for the week completed. Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.
