Beef Farmers of Ontario suggests we could see the weather have an impact on replacement cattle sales in the near future.
BFO says if the drought-like conditions continue in many parts of the province producers will likely pull cattle off grass and send them to market.
Last week's replacement cattle numbers were down on the week but more than 300 head more than last year.
The prices were mostly steady on all weights and classes.
Fed cattle marketings and prices were down last week in Ontario.
BFO reports about 160 head fewer animals were sold, with fed steer prices down almost 5 dollars and fed heifer prices down over 8 dollars on the week.
Both fed steer and heifer average prices were over 47 dollars lower than a year ago.
The Ontario railgrade market declined as the week went on, with average prices ending up 3.50 lower on the week and over 76 dollars lower than last year.
Cull cow marketings were up over 100 head on the week but the average price was down over 5 dollars.
Those marketings were down over 370 head from last year while the average price was over 32 dollars below a year ago.
===
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 21, 2016
The fed cattle market was under pressure this week with 495 head sold through auction markets, down 161 from last week and 80 more than last year at this time. Fed steers ranged from $140.32-$152.49 averaging $147.73 down $4.88 cwt from last week and $47.67 below year ago prices. Heifers were under further pressure with prices ranging from $132.77-$152.05 averaging $143.02 down $8.28 from last week and $47.57 below year ago prices. Auction markets early week, reported trade as selective at slightly easier prices. By mid-week the market was under pressure with the good quality cattle trading $4.00-$5.00 cwt lower, with all other classes taking further losses. By week's end trade was $2.00-$3.00 lower.
The Ontario railgrade market declined as the week progressed. Steers started out the previous Friday from $253.00-$259.00 dressed, down to $250.00-$256.00 by Monday and $248.00-$256.00 by Wednesday, with these cattle being delivered anywhere from this week to the second week in August. The same went for heifers with prices starting out $252.00-$258.00 dressed, to $249.00-$255.00 and ended the week $247.00-$255.00. This week's average prices are $3.50 below last week and $76.75 lower than year ago prices.
The Canadian Boxed Beef Report by Kevin Grier noted this week: "Buyers were holding to their guns on prices and once again just buying what the needed as they watched the board meander at low levels and heard tales of lower cash cattle. The big retailers appear to increasingly want beef on the flyers and demand is improving as a result. Canadian beef features on the front page of flyers across the country were average this week. Beef movement at retail is improving and has been mostly better than last year over this time. Restaurant traffic is good."
1,944 cull cows sold through auction markets this week, up 117 head from last week but 372 less than this time last year. Cull cows sold from $72.89-$98.87 averaging $85.49 down $5.61 from last week and $32.70 below year ago prices. Auction market reports started the week steady to barely steady, with just one report of higher prices. As the week progressed prices were steady to easier with prices $4.00-$5.00 lower on a medium quality offering.
Lighter receipts of 2,614 stocker and feeder cattle sold through auction markets this week down 112 head from last week but 345 more that this time last year. Auction markets reported a mostly steady to steady trade this week, on all weights and classes. We could see volumes pick up soon, if the drought like conditions continue in many parts of Ontario, as producers pull the cattle off grass and send them off to market. Actual average prices this week for steers 400-500 lbs averaged $3.95 lower, 500-600 lbs down $11.91, 600-700 lbs down $2.82, 700-800 lbs up $6.25, 800-900 lbs down $5.02, 900-1000 lbs down $2.12 and steers over 1000 lbs averaged $1.07 lower than last week. Heifers from 300-400 lbs averaged $26.86 higher than last week, 400-500 lbs up $2.77, 500-600 lbs down $8.30, 600-700 lbs down $6.71, 700-800 lbs up $9.35, 800-900 lbs down $7.51 and heifers over 900 lbs averaged $10.49 lower than last week. The Quebec Electronic Market for this week ranged from $247.00-$248.75 dressed, down $5.67 from last week on average.
Alberta direct trade for the week ending July 14th reported a light to moderate trade with dressed deals $247.00-$248.00 delivered, down $2.00-$3.00 from the previous week. Delivery on most of these cattle was reported to be for the first half of August. This week, at time of reporting Friday noon, Canfax reported a light trade on Thursday. Canfax reports: "dressed sales reported from 240.00-245.00 delivered. Initial sales are 3.00-7.00 lower than last week. Packers are not long bought, buyers were indicating cattle that they bought this week would be lifted in 2-3 weeks."
The US cash trade for the week ending July 14th was light to moderate on the Friday afternoon at slightly lower prices. Trade for last week reported by the USDA Mandatory Price Report lists live sales from $116.00-$120.00 with a weekly weighted average price of $117.00 live, down $3.00 from the previous week. On the rail sales ranged from $184.00-$192.00 dressed, with weekly weighted average prices at $187.00 dressed, down $3.60 from the week before. This week a light trade on Tuesday was noted in the north from $185.00-$188.00 dressed which was steady to $1.00 lower, while a very light test in the south was $115.00-$116.00 live, down $1.00-$2.00. On Wednesday business in the north was mostly at $185.00 dressed while southern deals were $115.00, both down $2.00 from last week's weighted average. On Thursday, southern business was steady to Wednesday at $115.00 while the north eased slightly lower to $181.00-$185.00 dressed. At time of reporting Friday noon, a couple of bids have surfaced in the south at $113.00 live and $180.00 dressed in the north, but no selling interest is reported. Although we could still see some business surface in the north, it appears that the south is finished for the week. If this week's US average is in the $115.00 live range, it will be the lowest weekly weighted average price since the week ending July 26, 2012. Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.
