Smaller Beef Herd Contributing To Record High Ontario Prices

Pork isn’t the only livestock sector seeing significant price hikes in recent weeks.

Beef Farmers of Ontario reports many categories of cattle set new record highs again for the week ending March 19th.

The organisation’s latest market commentary says steers hit 149.40 over that week.

Heifers broke the record the previous week but a larger volume of second cut cattle has pulled those prices back a bit.

BFO says the average fed steer price for the week ending March 19th was up 2 dollars and 31 cents from the previous week – and up over 33 dollars from the same week a year ago.

Fed heifers averaged a dollar 86 lower than the previous week – but were still 28 dollars and 65 cents higher than a year ago.

Beef Farmers of Ontario says there are three key factors in those stronger prices:

– the weaker Canadian dollar …

– the overall decline in the beef herd …

– and, for cows, a higher demand for trim.