The last week of March saw cattle markets hold relatively firm across Manitoba, with good demand for both feeder and butcher cattle moving through the rings. Prices were stronger on the week for most classes of cattle, which was welcome news to the local sector, given recent volatility in U.S. cattle and grain futures.
“We’re seeing positives, and that’s a good thing,” said Allan Munroe of the Killarney Auction Mart and recently elected president of the Manitoba Livestock Marketing Association.
He noted especially strong demand for grass-weight feeder cattle, although there was a large spread between steers and heifers. The cost of gain is higher for heifers versus steers, which likely accounted for the wide spread.
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Manitoba cattle prices – Nov. 10
Cattle prices from Manitoba’s major auction marts for the week of Nov. 4-10.
Feeder steers under 500 pounds hit highs of $250-$270 per hundredweight across the province during the week, with some individual animals coming in even higher. Heifers in the same weight class were generally at least $50/cwt lower.
“We’ve had some moisture through the winter and at this point we’re optimistic we’ll have a better growing season than last year,” Munroe said in accounting for some of the local demand. “It looks like we should be at the phase of the cattle market where we’ll have a positive turn, and nobody wants to not have inventory when that happens.”
Cattle were also moving east, with buyers there looking for higher-quality animals as usual.
While futures and other signals point to a strong market into next fall, “the inputs are the wild card,” Munroe said. In addition to high feed prices, he noted the cost of freight is getting significantly higher, which comes off the delivered price and the prices paid to sellers at auction.
“Cattle feeders and cow-calf guys will continue to need a very sharp pencil,” he said.
On the butcher side, prices also showed some strength on the week. “We’re getting closer to grilling season, so seasonally we see higher demand,” Munroe said.
D1 and D2 butcher cows were generally in the $80-$90/cwt range during the week, with prices topping $100/cwt in some cases.
Munroe said butcher prices were above levels seen a year ago, as many cows have disappeared over the past year. With the numbers coming to market likely to trend down more going forward, he anticipated cow prices would remain strong.
