Fed cattle marketings in Ontario were up last week with average prices mixed.
Volume was up over 200 head from the week before and almost 150 head from a year ago.
The average fed steer price was up over 2 dollars on the week while the average fed heifer price was down just over a dollar.
Both were over 40 dollars below a year ago.
Cull cow marketings were up over 100 from the week before but over 300 fewer than last year.
Beef Farmers of Ontario reports the average cull cow price was down just over a dollar on the week and more than 27 dollars on the year.
Replacement cattle marketings were up over the previous week and last year.
BFO says the difference was over 200 head on the week, over 500 on the year.
Stocker and feeder cattle prices ended the week holding steady to strong.
Kevin Grier's Canadian Boxed Beef Report says distributors were once again staying very close bought and looking for opportunities last week.
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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 Thursday, July 14, 2016
There were 656 fed steers and heifers sold through auction markets this week, up 222 from last week and 143 more than this time last year. Fed steers traded from $144.64-$158.20 with a weekly weighted average price of $152.61, up $2.28 from last week but $43.16 below year ago prices. Fed heifers ranged from $142.03-$160.89 averaging $151.30 down $1.02 from last week and $44.02 lower than year ago prices. Auction market reports started out the previous Thursday as $2.00-$3.00 cwt higher on a good demand. On Tuesday, the market was steady and strong, with fancy cattle bringing good premiums. By Wednesday the market was active with the better quality types trading $3.00-$4.00 cwt higher while extra fancy types brought further premiums. The market ended the week up $1.00-$2.00 from the week before.
The Ontario railgrade market was stronger this week with prices starting out higher than the previous week by $6.25 on average, then holding basically steady. Steers started out $255.00-$259.00 dressed, to $258.00-$259.00 on Tuesday and $255.00-$259.00 on Wednesday. Heifers followed the same pricing trend starting out $254.00-$258.00 dressed, to $257.00-$258.00 on Tuesday and back to $254.00-$258.00 by Wednesday. This week's average prices are $74.25 below last year at this time.
The Canadian Boxed Beef Report by Kevin Grier noted this week: "Once again distributors are staying very close bought and looking for opportunities. There is some effort on the part of foodservice to begin the quest for hip meat in the belief that seasonal lows are in. Foodservice buyers are waiting for lower rib prices before moving there." In the grocery stores: "After the very good featuring on the Dominion Day Holiday weekend, grocers gave beef a rest this week. Beef ads were almost non-existent in the west while Ontario ads were slim picking. Generally the lack of beef was not surprising given the aggressiveness shown the week prior."
There were 1,827 cull cows sold through auction markets this week up 114 head from last week, but 364 less than last year at this time. Cull cows ranged from $77.31-$104.68 with a weekly weighted average price of $9.10, down $1.18 from last week and $27.36 below year ago prices. Auction markets reported a good demand with prices early week, steady to strong. By Tuesday prices were steady and strong to barely steady in spots. By Wednesday the market was slightly easier at barely steady prices.
2,726 head of stocker and feeder cattle were on offer at auction markets this week up 263 head from last week and 530 more that this time last year. Auction market reports started out $3.00-$5.00 higher on all weights and classes with a good strong demand. By Tuesday the heavier cattle were $2.00-$3.00 cwt lower, but finished the week off holding steady to strong. The light weights were up to $2.00-$5.00 cwt higher mid-week, to steady to strong by week's end. Actual average prices this week saw steers 400-500 lbs averaging $12.93 higher, 500-600 lbs up $20.15, 600-700 lbs down $3.65, 700-800 lbs down $13.42, 800-900 lbs up $3.00, 900-1000 lbs up $4.16 and steers over 1000 lbs averaged $0.94 higher than last week on average. Heifers from 300-400 lbs averaged $27.66 lower than last week, 400-500 lbs down $10.92, 500-600 lbs down $6.83, 600-700 lbs down $9.87, 700-800 lbs down $14.18, 800-900 lbs up $3.91 and heifers over 900 lbs averaged $2.27 stronger than last week on average.
The Quebec Electronic Market for this week ranged from $253.25-$254.25 dressed, down $3.12 from last week on average. Alberta direct trade for the week ending July 7th saw higher prices than the previous week on a dressed basis. Steers traded from $242.00-$250.50 and heifers from $242.00-$248.50 dressed. This week Canfax reports a light to moderate trade with dressed deals $247.00-$248.00 delivered, down $2.00-$3.00 from last week. Delivery on most of these cattle is reported to be for the first half of August.
The US cash trade for the week ending July 8th was light and delayed until late Friday afternoon, with a lower tone noted. The USDA Mandatory Price report for last week's market lists live sales from $118.00-$122.00 with steers and heifers both averaging $120.02, which is down $2.48 from the previous week for steers and $1.79 lower on the heifers. On the rail prices ranged from $188.00-$192.00 dressed with steers averaging $190.80 down $4.73 from the previous week on average, while heifers averaged $190.72 down $4.17. This week a few scattered deals were noted at $118.00 live in the south and $186.00-$192.00 dressed in the north on Monday afternoon. Tuesday a few more sales surfaced at $116.00-$117.00 live in the south and $186.00-$188.00 dressed in the north, down around $1.00-$2.00 from Monday on average, but not enough sold to establish a market trend for the week. The cattle futures on Monday were sharply lower to limit down in spots with no recovery noted on Tuesday, which resulted in the weaker sales on Tuesday compared to Monday. The cattle futures saw a slight rally on Wednesday and Thursday which basically put a halt to the cash sales, as sellers sat back and passed on the lower bids of $116.00 live and $186.00-$187.00 dressed. Today, at noon, bids have resurfaced in the north at prices steady to early week trade of $186.00-$187.00 but no sales have been reported yet. Cattle futures are easing slightly lower this morning but asking prices are holding firm at $122.00 live in the south and $190.00-$192.00 dressed in the north. Business should develop early afternoon.
Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.
