More Highs Set For Ontario Cattle Prices

Ontario fed heifer prices set a new weekly average high last week.

The 147.30 average was up 3 dollars and 21 cents from the previous week and 28 dollars and 43 cents higher than a year ago.

Beef Farmers of Ontario says the average fed steer price slipped 31 cents from a week ago, but at $152.43, it’s still 36 dollars and 32 cents higher than a year ago.

Last week’s average Ontario railgrade prices also set a new high at $256.25 – up 75 cents from the previous week and 57 dollars and 25 cents from last year.

Provincial auction markets reported extremely high demand with very active trading on replacement cattle last week.

Yearlings or heavier cattle prices were steady to strong.

Lighter weights and grass-type cattle traded last week from 5 to 10 dollars higher.

BFO says Steers under a thousand pounds and heifers over 900 and under 800 pounds all set new weekly average highs last week.

       

Weekly Cattle Comments

As Supplied by Beef Farmers of Ontario
Ph: Toll free: 1-866-370-2333 or (519) 824-0334
Fax: (519) 824-9161 Email: markets@ontariobeef.com
Comments for the week ending May 8, 2014
There were 599 fed steers and heifers sold through auction markets this week down 11 head from last week but 168 more than last year at this time. Fed steers ranged from $141.05-$162.52 with a weekly weighted average price of $152.43 down $0.31 from last week and $36.32 stronger than year ago prices. Fed heifers traded from $135.68-$156.18 averaging $147.30 up $3.21 from last week (setting a new weekly average high) and $28.43 stronger than last year at this time. Auction markets reported a good demand with prices steady to strong, ending the week up $2.00. Live fed cattle exports through Ontario ports to the U.S. as of April 19, 2014 total 13,720 head which is up 909 head from April 19, 2013.

Ontario railgrade prices gained $1.00 on the bottom end of the range the previous Friday with steers selling from $255.00-$257.00 dressed and heifers from $254.00-$256.00. By Wednesday the top end gained $1.00 with steers now at $255.00-$258.00 dressed and heifers from $254.00-$257.00. This week’s average prices of $256.25 for steers and $255.25 for heifers set a new high, up $0.75 from last week on average and up $57.25 from last year at this time.

There were 2,225 cull cows on offer at auction markets this week down 299 head from last week but 358 more than last year at this time. Cull cows traded from $80.00-$111.97 averaging $97.51 down $0.39 from last week and $30.46 stronger than last year at this time. Auction markets reported a good to moderate demand with prices from steady to easier. Cull cow exports as of April 19th ytd, through Ontario ports to the U.S. were at 40,174, down 6,984 head from 2013 ytd.

There were 8,364 replacement cattle sold through auction markets this week down 573 head from last week and 2,853 more than last year at this time. Strong demand on lighter volumes has been price supportive with just 85,753 head sold through auction markets as of May 8, 2014, down 1,806 head from the same time in 2013. Auction markets are reporting an extremely high demand with very active trading as buyer interest continues strong. Yearlings or heavier cattle are reported as steady to strong while lighter weights and grass type cattle are trading from strong to $5.00-$10.00 higher. Steers under 1,000 lbs along with heifers over 900 lbs and under 800 lbs all set new weekly average highs this week. Steers 400-500 lbs averaged $12.51 higher, 500-600 lbs up $6.56, 600-700 lbs up $8.81, 700-800 lbs up $7.57, 800-900 lbs up $6.42, 900-1000 lbs up $1.41 and steers over 1000 lbs averaged $1.31 lower than last week’s average prices. Heifers from 300-400 lbs were up $10.03 on average, 400-500 lbs up $15.27, 500-600 lbs up $9.19, 600-700 lbs up $9.15, 700-800 lbs up $5.64, 800-900 lbs down $4.33 and heifers over 900 lbs averaged $1.77 higher than last week’s average prices.

The Quebec Electronic Market this week sold from $257.00-$257.25 dressed, averaging $3.68 higher than last week.

Alberta direct trade saw a good strong week of trade with live steers averaging $0.50 higher while dressed steers were up $5.80 on average with heifers up $6.93. Canfax reports sales for steers at $149.00 live and $249.25-$254.50 flat rail. Heifers were reported at $250.00-$254.50 flat rail.

The U.S. cash cattle trade the week ending May 1st saw live sales average $1.50 higher while dressed deals averaged around $2.50 higher. Steers and heifers sold from $145.00-$151.50 live with steers averaging $147.98 up from $146.34 the previous week while heifers averaged $147.56 up from $146.16. On the rail steers and heifers traded from $234.00-$240.00 dressed with steers averaging $237.72 up from $235.08 the previous week while heifers averaged $237.36 up from $234.63. The market this week at time of reporting is seeing a very light test in the north at $237.00 dressed. Packer interest should improve as the day progresses with asking prices sitting at $147.00-$148.00 live and $240.00 dressed.
Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario