ONT Farm Market News PM Livestock Summary for February 24 Here is the Country Auction Report as collected by the Beef Farmers of Ontario Friday. * REPLACEMENT CATTLE: There were 825 head on offer at Brussels. Calves sold $3.00-$5.00 higher on a very strong trade. Yearlings sold steady to last week's high market. Large & Medium Steers over 900 lbs:$246.25 - $268.75 Large & Medium Steers 700-800 lbs:$285.00 - $304.00 Large & Medium Steers 500-600 lbs:$286.00 - $345.00 Large & Medium Heifers over 800 lbs:$212.84 - $237.48 Large & Medium Heifers 600-700 lbs:$249.00 - $267.00 Large & Medium Heifers 500-600 lbs:$239.00 - $268.00 From the Beef Farmers of Ontario, the Rail Grade Report. Prices are on carcass weight basis, before grade and weight discounts. Steers: $338.00 - $338.00 Heifers: $337.00 - $338.00 *From Ontario Pork: *Quebec's average price on Thursday was $188.63 per ckg D.W. 100 index. *The previous markets day's CME Constructed (201) price was $78.44 U.S. per cwt. D.W. *Compared to the previous day this was up $0.47 *Average weekly price /ckg DW total value $213.39 *Total volume of Ont. hogs sold was 110545 * From the Beef Farmers of Ontario, the weekly beef commentary: Comments for the week ending February 23, 2023: Receipts of cattle sold this week were lighter in all categories, partially due to the severe winter conditions Thursday and the holiday last Monday. 330 fed steers and heifers sold through auction markets this week, down 133 head from last week but 74 more than the same week last year. Fed steers ranged from $187.30-$203.77, averaging $196.23, down $0.48 from the previous week and $30.92 stronger than year ago prices. Fed heifers sold from $185.41-$203.25, averaging $196.89, up $2.12 from the previous week and $30.04 above last year at this time. Auction markets reported active trading with prices steady to $1.00-$4.00 higher. The Ontario railgrade market was stronger this week with light to moderate volumes reported. Bids of $332.00 were passed early week but by Tuesday trade was sitting at $338.00 dressed for steers and $337.00-$338.00 for heifers, mainly $338.00, up $6.00 cwt from the previous week. Delivery of the cattle sold this week is scheduled for the week of February 27th with a few noted for the week after. Sales to the U.S. were also reported this week. This weeks average railgrade price of $338.00 dressed is just $0.25 shy of the record high price of $338.25 cwt set the week ending June 18, 2015, with an estimated breakeven price at that time of $305.00 cwt. This weeks estimated breakeven price is around $331.00 cwt indicating much lower profit margins than in 2015 due to increased input costs. Light receipts of 2,007 fed/cull cows sold this week at auction markets, down 576 from last week and 245 fewer than this time last year. Fed/cull cows sold from $82.75-$119.59 averaging $100.30 up $3.28 from the previous week on average and $19.65 higher than this time last year. Auction markets reported trade as active at steady to higher prices to start. As the week progressed, trade was steady to higher on strong demand, with one market noting beef cows slightly lower and dairy cows steady. By mid-week the severe winter weather resulted in light receipts and higher prices. 265 head of beef cows sold this week down 207 head from last week, averaging $106.04 up $1.16 cwt from last weeks weighted average beef cow prices. 3,506 stocker and feeder cattle were sold through auction markets this week which is fully steady to last week and the same week last year. Auction markets reported an extremely active trade with great buyer interest at higher prices across the board, with some up $3.00-$5.00 cwt. Actual average prices this week for steers 400-500 lbs were up $14.14 on average, 500-600 lbs up $14.19, 600-700 lbs up $25.96, 700-800 lbs up $12.04, 800-900 lbs up $1.63, 900-1000 lbs down $3.19 and steers 1000 lbs plus averaged $5.32 higher than last weeks weighted average prices. Heifers from 300-400 lbs were up $11.86, 400-500 lbs up $11.19, 500-600 lbs down $1.91, 600- 700 lbs up $4.65, 700-800 lbs up $0.82, 800-900 lbs up $4.70 while heifers 900 lbs plus averaged $1.03 easier than last week on average. The Quebec electronic market this week was reported at $335.00 cwt dressed on a picked-up basis, down $1.50 cwt from the previous weeks trade. Alberta direct trade this week was light to moderate with prices reported by Canfax at $332.00-$335.00 cwt delivered on a dressed basis, up $5.00- $8.00 cwt from last weeks business with delivery noted for the first half of March. Canfax reports: Live sales have been reported around 198.00 delivered to the plant. Competition on the cash market remains decent with both major packers buying cattle. YTD 2023 western Canadian fed slaughter is slightly larger than last year while fed cattle exports to the US are also higher than last year. Western Canada fed supplies are being worked through in a very timely manner. The U.S. cash cattle trade the week February 17th saw the bulk of trade take place on Friday. In the south prices ranged from $158.00-$162.00 live, most at $162.00 up $2.00 cwt although many sellers passed on the $162.00 live bids. In the north dressed deals ranged from $252.00-$258.00, majority at $257.00 up $3.00 cwt, with some live trade mainly $159.75 up $1.00. Overall prices for the week reported by the USDA Mandatory Price Report saw steers average $161.17 live up $1.55 with heifers averaging $160.87 up $1.35. On the rail steers averaged $256.78 dressed up $2.87 with heifers averaging $256.60 up $3.09 cwt. This week the U.S. cash cattle trade has been quiet with just a few deals Tuesday and Wednesday afternoon in Nebraska at $160.00-$161.00 live, $1.00-$2.00 higher and $256.00-$257.00 dressed which is steady, with a few in Iowa at $164.00 live up $3.00 cwt, but not nearly enough sold in either state to establish a market. Thursday light trade developed in the north with sales from $258.00-$263.00 dressed, majority at $260.00 up $2.00-$3.00 cwt with some live trade in both the north and south from $160.00-$166.00, mainly $164.00 up $2.00 from last weeks southern deals and $4.00 stronger than the northern live trade last week, however business in the south was reported as light. Today, a light test in Nebraska continues at $164.00 live while the other feeding states have not started to trade at this time. Bids are sitting at $164.00 live in the south and $160.00-$164.00 live and $260.00 dressed in the north. Asking prices are holding at $165.00 plus live in the south and $262.00 plus dressed in the north. Business is expected to continue, especially in the south however sellers could be waiting for the Cattle On Feed Report to be released before actually doing more trade. Jamie Gamble - Beef Farmers of Ontarios market information report.