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Sarnia

Cattle Prices Still Working Towards Last Year's Peak

It was exactly a year ago that Ontario railgrade prices maxed out.

The Beef Farmers of Ontario report prices last week held fully steady for the third time in a row and are 40 dollars below last year's mark.

The group points out prices in 2016 were under pressure from that point on.

Cull cow prices are now 21 dollars below a year ago.

BFO notes cull cows gained $1.58 last week, selling for an average of $72.48.

Fed steers and heifers went in opposite directions again.

Steers picked up $2.51, selling for an average of $148.72.

Heifers traded for an average of $142.97, after a loss of 70 cents.

Kevin Grier of the Canadian Boxed Beef Report says beef movement at retail is much stronger than last year at this time.

He adds big retailers were sitting idle with their purchases waiting for prices to come down, but they're now starting to give in, willing to take a financial hit.

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