Fed steers and heifers sold through auction markets this week at 632 head, were up 65 head from the previous week and 167 head larger than the same time last year. Fed steers sold from $233.63-$247.04 cwt averaging $240.88, down $2.68 cwt from the previous week’s trade but $18.28 above year ago prices. Fed heifers sold from $233.15-$246.09 averaging $241.63 cwt, down $1.82 from last week but $19.24 higher than last year. Auction markets reported fed steers and heifers sold on a steady trade
with one market noting larger volumes trading $1.00-$2.00 cwt easier with Holstein steers also selling steady.
The Ontario railgrade market for dressed sales was steady with the previous week at $407/cwt and cattle are being booked for the week of May 27th delivery. Canfax reported that “In Ontario, there is growing concerns that some Cargill workers could walk off the job by the end of this month. Employees have been without a contract since the start of the year.” BFO is continuing to monitor the situation and will keep our members updated on the situation. Year to date Ontario cattle processing is running 6.6% below last year with fed cattle down 5.3% and cows down 12%. Ontario carcass weights have counter-seasonally increased since February as prices encourage more days on feed. Steer and heifer carcass weights are currently 28 and 29 lbs heavier than last year, respectively. Heavier carcass weights are offsetting lower processing numbers to keep regional production steady with last year. In April, Ontario fed cattle were at a $13/cwt live discount to the Alberta market, after being at a $4/cwt premium in March. Last week’s Ontario fed cash-to-futures basis was positive for the first time this year and seasonally strengthens into June.
Cull cow receipts sold through auction markets this week were 2303 head, up 237 head from last year and 744 head larger from last year. Auction markets reported trade as steady to fully steady for the most part. Mid-week that beef cows sold higher, while dairy cows sold lower. Trade ended the week steady to $2.00-$3.00 higher. Actual prices showed cows were selling from $119.32-171.61 cwt averaging $142.97, up $1.46 from last week and up $19.08 from last year. In April, Ontario D2 cows were at a $20/cwt discount to Alberta, the largest discount since January 2020. Ontario D2 cows were at a $23/cwt discount to US utility cows in March and April.
Smaller receipts of 5986 stocker and feeder cattle sold through Ontario auction markets this week down 986 head from the previous week but 932 head higher than the same week last year. Auction markets reported that early in the week calves sold steady with grass types selling $10.00-$15.00 cwt higher.
Yearlings sold steady to $5.00 cwt higher. By mid-week stockers sold actively at steady prices, at special spring stocker sales. By the end of the week, all calves were selling on a sharply stronger market with grass type heifers bringing further premiums. Actual average prices collected this week saw steers from 400-500 lbs trading $1.36 cwt lower than last week on average, 500-600 lbs up $11.85, 600-700 lbs down $5.98, 700-800 lbs up $10.83, 800-900 lbs were up $1.04, steers 900-1000 lbs up $6.70 and steers 1000 lbs plus averaged $4.02 cwt stronger than the previous week’s weighted average prices. Heifers from 300-400 lbs were up $21.19 cwt from last week on average, 400-500 lbs up $17.64, 500-600 lbs up $17.06, 600-700 lbs up $5.65 and 700-800 lbs up $13.46, 800-900 lbs up $5.18 and heifers 900 lbs and over averaged $1.86 cwt stronger than the previous week’s weighted average prices. 5-600 lb steers have been trading over $400/cwt for five consecutive weeks. 6-700 lb steers dropped after coming within $3 of $400/cwt last week. Heifers less than 600 lbs saw solid price support.
