Ontario fed cattle volumes and prices were down last week.
Beef Farmers of Ontario reports fed steer prices down over 4 dollars, fed heifers almost 6 dollars lower than the week before.
The average fed steer price was over 49 dollars lower than a year ago, the heifer price almost 48 dollars lower.
The Ontario railgrade market prices averaged almost 13 dollars lower on the week and 81 dollars below a year ago.
The cull cow market showed some strength last week, with the average price about 75 cents higher than the week before.
However, that price was still over 25 dollars below where it was a year ago.
Lighter receipts of replacement cattle sold easier under selective demand.
BFO reports the week ended with Ontario replacement cattle prices steady on all weights and classes.
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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 June 23, 2016 The Ontario live fed cattle trade saw 478 head sold through auction markets, down 161 head from last week and 174 less than this time last year. Fed steers sold from $137.57-$156.89 averaging $147.67 down $4.31 from last week and $49.06 lower than this time last year. Fed heifers traded from $139.86-$154.77 averaging $147.32 down $5.75 from last week and $47.48 below year ago prices. Auction market reports started out under pressure with demand selective and prices down $3.00-$4.00. By Wednesday the market saw fancy cattle down $3.00-$4.00 cwt, with plain and heavy cattle taking further losses. By Thursday prices were reported as $1.00 lower than last week.
The Ontario railgrade market declined as the week progressed with prices averaging $12.75 lower than last week and $81.00 below year ago prices. Steers started out this reporting period with no bids available. By Monday prices had dropped $7.00-$10.00 with steers trading from $248.00-$260.00 dressed and heifers $247.00-$259.00 with delivery from this week, to the first week in July. By Wednesday the market had pulled back further to $248.00-$255.00 for steers and $247.00-$254.00 dressed for heifers, with delivery now for next week and into the first week in July.
Cull cows were the only exception this week with a stronger market. 1,902 cull cows came to market, which is fully steady to last week and 69 more than this time last year. Cull cows sold from $80.38-$109.07 averaging $93.71 up $0.74 from last week and $25.61 below year ago prices. Auction markets saw prices improve as the week progressed with trade starting out this reporting period as active at steady prices. As the week advanced, the market was active on a good demand with prices fully steady and strong, to $2.00-$5.00 higher, and ended the week up $1.00-$2.00 on a good demand.
Lighter receipts of 2,831 replacement cattle sold through Ontario auction markets this week down 920 head from last week and 377 less that the same time last year. This week's trade was reported as easier with demand selective. Prices for lighter weights were quoted to be lower, down $5.00 or more. Heavier cattle sold selectively with prices easier to lower until Wednesday when the market was slightly easier on the good quality, while the heavy, fleshy, second cut cattle sold under further pressure. The week ended with prices steady on all weights and classes. This week's average prices for steers 400-500 lbs averaged $24.68 lower than last week, steers 500-600 lbs were down $20.76, 600-700 lbs down $11.63, 700-800 lbs down $11.95, 800-900 lbs down $4.00, 900-1000 lbs down $8.87 and steers over 1000 lbs averaged $7.22 below last week on average. Heifers 300-400 lbs averaged $16.61 below last week, 400-500 lbs down $14.21, 500-600 lbs down $5.80, 600-700 lbs down $13.48, 700-800 lbs down $11.88, 800-900 lbs down $6.06 and heifers 900 lbs and over averaged $2.49 lower than last week on average.
The Quebec Electronic Market this week was reported from $248.00-$249.00 on a dressed basis, down $13.08 from last week on average.
Alberta direct trade was light this week with prices under pressure. Canfax's sale summary for the week lists both steers and heifers from $234.25-$238.50 dressed, with steers down $16.90 from last week on average, while heifers had no sales last week to compare too. Canfax noted earlier this week that "By the sounds of things the few cattle that have traded this week are being scheduled for the first half of July delivery."
The U.S. cash cattle trade was under a lot of pressure the week ending June 16th, with prices declining as the week progressed. Prices ranged anywhere from $115.00-$125.00 live and $187.00-$198.00 dressed. The USDA Mandatory Report reports that live steers averaged $120.62 down $6.88 from the previous week while heifers averaged $121.33 live, down $6.20. On the rail steers averaged $194.23 down $11.41 from the previous week while heifers averaged $193.31 down $11.73. This week some light trade surfaced in Kansas on Tuesday afternoon with sales from $115.00-$117.00 live averaging $116.00 down $5.00 from last week on average. Wednesday further trade in all of the south was reported at $116.00 live which held steady to Tuesday. Some business in the north on Wednesday was under pressure with prices reported from $184.00-$186.00 dressed down $9.00-$11.00 from last week. Thursday the south held steady at $116.00 live while the north was able to push prices slightly higher than Wednesday at $186.00-$190.00 dressed, up $4.00 from Wednesday but still $5.00 below last week. Today, it appears the south is essentially finished for the week, unless of course higher bids surface. In the north, bids are sitting at $186.00-$190.00 dressed with no sales reported. Asking prices are holding at $118.00 live in the south and $192.00 plus dressed in the north. Trade, if any, could be delayed until after the Cattle On Feed Report is release this afternoon. Worldwide markets are under pressure today after the U.K. voted to exit the European Union. Cattle and grain futures and the CDN dollar all opened the day under severe pressure but at noon had backed off slightly. However, there is still potential for the downward pressure to resurface before the day is out. Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.
