Ont Farm Market News Pm Livestock Summary For February 10
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ONT Farm Market News PM Livestock Summary for February 10
Here is the Country Auction Report as collected by the Beef Farmers of
Ontario Friday.
* REPLACEMENT CATTLE: There were 725 head on offer at Brussels.
Calves and yearlings sold on a strong market at fully steady prices.
Large & Medium Steers over 900 lbs:$227.76 - $262.35
Large & Medium Steers 700-800 lbs:$230.00 - $258.00
Large & Medium Steers 500-600 lbs:$287.50 - $346.00
Large & Medium Heifers over 800 lbs:$204.89 - $239.58
Large & Medium Heifers 600-700 lbs:$225.00 - $249.00
Large & Medium Heifers 500-600 lbs:$213.00 - $258.00
*From Ontario Pork:
*Quebec's average price on Thursday was $179.03 per ckg D.W. 100 index.
*The previous markets day's CME Constructed (201) price was $73.7 U.S.
per cwt. D.W.
*Compared to the previous day this was down $0.22
*Average weekly price /ckg DW total value $205.56
*Total volume of Ont. hogs sold was 113634
* From the Beef Farmers of Ontario, the weekly beef commentary:
Comments for the week ending February 9, 2023:
Auction market volumes of fed steers and heifers were slightly larger this
week at 411 head, up 55 from the previous week and 22 more than the same
time last year. Fed steers were strong ranging from $192.61-$202.25,
averaging $197.92, up $5.47 from the previous week and $28.66 above year
ago prices. Fed heifers sold from $181.54-$199.39, averaging $192.03, up
$9.86 from the week before and $21.43 stronger than this time last year.
Auction markets reported a strong, active market with prices anywhere from
$1.00-$2.00 higher to $5.00-$6.00 cwt higher. By mid-week trade was noted
as steady and ended the week up $1.00-$2.00 cwt.
The Ontario railgrade market started out the previous Friday with a couple of
deals noted at $328.00 dressed with delivery the week of February 13th.
Monday and Tuesday the market was quiet with no new trade reported as
sellers resisted the bids. On Wednesday prices did improve by $2.00 cwt with
a couple of deals noted on the rail at $330.00 dressed for steers and
$329.00-$330.00 for heifers, but volumes were very limited. There were
reports of cattle being sold to the U.S. this week also.
The Boxed Beef Report by Kevin Grier reported the overview for last weeks
beef market: Prices fell last week, which was expected but there was a
feeling in the market that a turn was in the air. Demand looks still very good.
That is despite all the reasons why it should not be, such as inflation and
declining real wages. The rib, chuck and hip have gotten back into more
interesting ranges for buyers. Furthermore, given beefs volatile moves in the
last two months, buyers are considering whether now is the time to get busy
again. That is especially the case given that all buyers know that supplies will
be declining, at least in 2H. With that supply warning in place, the fact is
that
current supplies are still abundant. Kills will remain close to year ago levels
for at least a month.
The demand for fed/cull cows remained strong this week on 2,435 head
which sold through auction markets, down 142 from last week and 437 fewer
that the same week last year. Cows ranged from $84.84-$121.63 with a
weekly weighted average price of $102.16 up $2.58 cwt from the previous
week and $21.92 above year ago prices. Auction markets reported trade as
active and strong with higher prices to start. By Tuesday trade was steady to
$5.00-$6.00 cwt higher and by mid-week price were reported as stronger.
Thursday saw cows trade at barely steady prices. 344 of this weeks offering
were beef cows up 74 head from last week, averaging $109.81 cwt up $7.82
from last weeks weighted average beef cow price.
Lighter receipts of stocker and feeder cattle were on offer at auction markets
this week at 2,519 head, down 1,330 from the previous week and 973 fewer
than the same time last year. Auction markets reported trade as active with
calves selling on a strong demand at firm prices to sharply to extremely
stronger prices. Heavier cattle were firm and fully steady on a good active
trade. Actual average prices this week saw steers 400-500 lbs up $14.41 cwt
from last week on average, 500-600 lbs up $10.53, 600-700 lbs up $9.94,
700-800 lbs up $3.49, 800-900 lbs up $11.64, 900-1000 lbs up $5.80 but
steers 1000 lbs and over averaged $1.51 easier than last week on average.
Heifers from 300-400 lbs were down $19.84 on light receipts, 400-500 lbs up
$8.30, 500-600 lbs down $3.63, 600-700 lbs up $3.78, 700-800 lbs up $0.32,
800-900 lbs up $18.08 while heifers 900 lbs and over averaged $2.03 easier
than last week on average. Light weight steers are up $60.00-$65.00 cwt
from this time last year while heavy steers are up $45.00-$60.00. Light
weight heifers are up $340.00-$47.00 and heavier heifers up $43.00-$46.00
cwt from the same time last year.
The Quebec electronic market this week was reported from $332.50-$333.00
dressed on a picked-up basis up, $0.19 cwt from last week on average.
Alberta direct trade was light Wednesday afternoon with sales reported at
$325.00 cwt delivered on a dressed basis, up $4.00-$5.00 cwt from last
week. Light trade continued Thursday with Canfax noting sales from
$325.00-$327.00 cwt delivered on a dressed basis up $5.00-$6.00 from the
previous weeks trade. Canfax reports that: Cattle that traded this week
were being scheduled for early March delivery. Fed cattle prices have
strengthened for nine consecutive weeks gaining $12/cwt. Fed cattle prices
are now within $9/cwt of their all-time highs set back in May 2015. On a cash-
to-cash basis Alberta fed prices are trading at roughly a $20/cwt discount
against the US market. For the beginning of February this is the weakest
basis since 2014.
The U.S. cash cattle trade the week February 3rd was very quiet with just a
couple of deals on Thursday at $248.00 dressed, steady to the previous
week but not enough to establish a market. Light trade finally surfaced late
Friday afternoon and carried into Saturday at stronger prices. In the south
light trade is reported at mainly $158.00 live up $2.00 cwt from the previous
week. In the north some live trade was noted from $155.00-$160.00 up
$2.00-$3.00 with very light dressed deals from $248.00-$254.00, mainly
$250.00 up $2.00. Overall weekly prices reported by the USDA Mandatory
price report saw live steers average $158.17 up $2.92 while heifers
averaged $157.96 up $2.47 from the previous week on average. On the rail
steers averaged $249.88 up $2.16 with heifers averaging $249.40 up $2.03
from the week before on average.
This week the U.S. cash cattle trade saw a light test mid-week in the south at
$159.00 live, up $1.00 from last week on average with a light test on
Thursday also noted at $159.00 live. In the north the market was quiet until
Thursday, where a light to moderate trade developed from $250.00-$255.00
delivered on a dressed basis, mainly $254.00 up $4.00 cwt. A few live deals
were noted at $158.00 live which is steady. Friday, bids in the south are
sitting at $158.00 live with some in the north at $157.00 live but sellers are
not showing any interest. Asking prices on the remaining cattle are sitting at
$161.00-$162.00 live in the south and $255.00 plus dressed in the north. If
bids dont improve today, this weeks trade might be completed.
Jamie Gamble - Beef Farmers of Ontarios market information report.