Ontario Fed Cattle Prices Continue Strong Pace

Ontario fed cattle prices set new weekly highs last week.

Fed steers averaged 186.24, heifers 183.67.

For steers, that’s up 4.73 from the previous week and over 48 dollars higher than last year.

The average fed heifer prices was up 1.89 from the previous week and over 52 dollars higher than a year ago.

Beef Farmers of Ontario reports average Ontario rail grade prices were up 9.25 from the previous week and 92 dollars stronger than this week in 2014.

Replacement cattle marketings totalled 3,450 last week.

That’s about 12 hundred more than the previous week and over 22 hundred more than a year ago.

BFO says auction markets reported replacement cattle trade as fully steady to strong on all weights and classes.

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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 January 15, 2015

There were 711 fed steers and heifers sold through Ontario auction markets this week up 213 head from last week and 452 more than last year at this time. Fed steers traded from $172.74-$198.18 averaging $186.24 up $4.73 from last week, $48.71 stronger than last year at this time and also a new weekly average. Heifers ranged from $163.85-$191.81 averaging $183.57 up $1.89 from last week, $52.63 stronger than year ago prices and also a new weekly average high. Auction markets reported a very strong demand with prices from $2.00-$5.00 higher, with extra fancy cattle bringing premium prices. By the end of the week the market was steady to the week’s increases.

Ontario rail grade prices continue to trend higher with new weekly average prices set. Steers started this reporting period the previous Friday at $314.00-$315.00 and $314.00-$316.00 by Monday. By Wednesday the price was $316.00 dressed. Heifers followed the same pricing trend starting out at $313.00-$314.00 dressed, up to $315.00 by Wednesday. This week’s average prices are up $9.25 from last week and $92.00 stronger than last year at this time.

The cull cow market continues to climb upward with 3,151 head selling through auction markets this week, up 225 head from last week and 326 more than last year at this time. Cull cows traded from $96.34-$132.46 averaging $113.61 up $5.25 from last week, up $14.42 in the last three consecutive weeks, and $36.19 stronger than last year at this time. This week’s price is also a new weekly average high. Auction markets reported demand as very strong with prices stronger, up to $3.00-$5.00 higher than last week.

There were 3,450 replacement cattle on offer this week at auction markets, up 1,211 head from last week and 2,262 more than last year at this time. Auction markets reported trade as fully steady to strong on all weights and classes with one auction noting steer calves up $5.00. Actual average prices this week compared to last week’s very light trade saw steers 400-500 lbs up $17.44 from last week, 500-600 lbs up $15.22, 600-700 lbs up $14.23, 700-800 lbs up $10.93, there was not enough trade in the 800-900 lb category last week, 900-1000 lbs steers were up $24.58 and steers over 1000 lbs averaged $1.89 stronger than last week. Heifers 300-400 lbs averaged $3.26 lower than last week, 400-500 lbs up $4.82, 500-600 lbs up $12.43, 600-700 lbs up $19.41, 700-800 lbs up $5.69, 800-900 lbs up $30.78 and heifers over 900 lbs averaged $5.74 stronger than last week’s average prices.

The Quebec Electronic Market this week reported steers and heifers at $313.00 dressed, up $2.25 from last week.

Alberta direct trade this week was light as were show lists as reported by Canfax. Dressed sales for steers ranged from $317.75-$318.50 up $0.91 on average from last week.

The US cash cattle trade has been on an upward swing for the last three consecutive weeks, however that has changed this week. Business surfaced on Tuesday (mostly in the north) with the USDA Mandatory Report showing live sales from $162.00-$165.00 averaging $164.16 for steers and $164.14 for heifers, down $5.00 from last week’s weighted average prices. Dressed sales ranged from $263.00-$265.00 with steers averaging $264.31 and heifers $264.29 down $6.00 from last week’s weighted average price. Thursday saw light trade in all feeding states with prices steady to the week’s decline at $164.00-$164.50 live in the south and $260.00-$265.00 dressed in the north. Asking prices on the remaining cattle are at $166.00 live and $266.00 dressed.

Jamie Gamble, Market Information Coordinator, Beef Farmers of Ontario.