Beef Farmers of Ontario reports all classes of cattle met a better demand at higher prices last week.
Fed steers were up almost 10 dollars, fed heifers almost 4 dollars from the week before.
Cull cows traded 67 cents higher.
And replacement cattle traded actively on a solid demand with prices fully steady to higher on the week.
Fed cattle marketings were up 286 head on the previous week, cull cows up by 371 and replacement volume up by 113 from the previous week.
BFO quotes Kevin Greer's Canadian Boxed Beef Market Report as saying buyer activity has picked up in the Canadian market.
Greer says the turnaround in the futures woke up everyone beyond the packer level in the chain and got them back in the game.
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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 19, 2016 It is very nice to report, for the first time in a while, that all classes of cattle met a better demand at higher prices! The live fed cattle market saw 719 head sold through auction markets, up 286 head from last week and 308 more than this time last year. It is important to note that included in this week's pricing and volume is the CDN Livestock Auction Markets Association Auctioneer Competition, which saw considerably stronger prices and is reflected in the averages. Fed steers ranged from $149.27-$163.68 averaging $158.12 up $9.78 from last week and $41.38 below last year at this time. Fed heifers sold from $147.16-$165.68 averaging $157.03 up $3.98 from last week and $36.32 below year ago prices. Auction markets reported a very strong active trade with prices slightly higher to $2.00-$3.00 higher, with fancy cattle bringing further premiums.
The Ontario railgrade market improved as the week progressed. Steers started out this reporting period at $248.00-$254.00 dressed and ended the week at $253.00-$256.00, while heifers followed the same trend starting out at $247.00-$253.00, ending the week from $252.00-$255.00 dressed. This week's average prices are up $2.75 from last week, but $78.50 below last year at this time. Heading into the long weekend, Friday's prices are up to $256.00-$260.00 for steers and $255.00-$259.00 for heifers.
The Canadian Boxed Beef market reported by Kevin Greer for the week of May 16th notes: "The Canadian market has finally gotten busy as buyer activity has perked-up. Pull through on ads has finally improved. The turnaround in the futures woke up everyone beyond the packer level in the chain and got them back in the game."
Slightly larger receipts of 2,348 cull cows sold through auction markets this week up 371 from last week, and 571 more than last year at this time. Cull cows sold from $75.83-$102.06 averaging $88.48 up $0.67 from last week, but $33.01 below last year at this time. Auction markets reported trade as under pressure, to strong and steady early week. As the week progressed the market was active with prices steady to higher.
6,232 stocker and feeder cattle sold through auction markets, up 113 head from last week and 1,404 more than last year at this time. Auction markets reported trade as active on a solid demand with prices fully steady to higher, with some noting cattle as $2.00-$10.00 cwt higher. Actual average prices for this week saw steers 400-500 lbs averaging $11.28 higher than last week, 500-600 lbs up $10.47, 600-700 lbs up $12.71, 700-800 lbs up $17.94, 800-900 lbs up $5.21, 900-1000 lbs up $6.92 and steers over 1000 lbs averaged $9.49 higher than last week on average. Heifers 300-400 lbs were up $7.80 from last week on average, 400-500 lbs up $18.54, 500-600 lbs up $10.96, 600-700 lbs up $9.75, 700-800 lbs up $7.01, 800-900 lbs up $10.34 and heifers over 900 lbs averaged $9.38 higher than last week on average.
The Quebec Electronic Market this week sold from $251.00-$253.00, down $0.18 from last week on average.
The Alberta cash cattle trade, for the week ending May 19th, was too light to establish a price report but bids were noted as $9.00-$10.00 higher on a dressed basis. This week, Canfax reports: "light trade developed with dressed sales 5.00-6.00 higher than the previous week. The majority of dressed sales have been reported at 275.00 delivered. US packer interest in the western Canadian fed market has been limited as all reported cash sales have traded locally."
The U.S. cash cattle trade final results for the week ending May 12th, reported by the 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. At time of reporting Friday noon, a light to moderate trade so far this week has been noted in the south with sales anywhere from $124.00-$133.00 live, with steers averaging $131.14 and heifers $130.77, down around $1.00-$2.00 from last week on average. Business in the north has been extremely light with sales in the $204.00-$206.00 dressed range with steers averaging $204.03 and heifers $204.88, down $3.00-$4.00 from last week on average. At time of reporting bids are sitting at $204.00-$206.00 dressed which is steady to yesterday, while asking prices are sitting at $212.00 dresses.. Active trade is expected in the north but will likely be delayed until after the Cattle On Feed Report is released this afternoon. The south appears to be finished for the week. At any point, it appears that the market tone for this week is established. Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.
