Most of Manitoba’s cattle auction sites resumed activity during the week ended Jan. 12, with two more set to reopen the week after.
Winnipeg Livestock Sales was the first to hold its weekly sale on Jan. 6, followed by Gladstone Auction Mart, Grunthal Livestock Auction and Heartland Livestock Services (HLS) in Brandon on Jan. 10. HLS in Virden held its weekly sale on Jan. 11 and Ste. Rose Auction Mart followed suit the next day. Killarney Auction Mart scheduled its first regular sale of 2023 on Jan. 16, two days before Ashern Auction Mart.
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In total, 4,313 cattle went through the rings during the week, slightly more than half the 8,070 animals sold during the week of Dec. 15.
“It was a nice offering to kick things off. We had just under 1,400 head, so it was a nice way to test the market,” said Brennin Jack, manager of HLS Virden. Virden and Ste. Rose were the only two sites to sell more than 1,000 cattle during their sales.
Feeder steers weighing 500 lb. or less ranged in price from $260 to $340 per hundredweight, while heifers of the same weight sold for $220 to $272/cwt.
D1 and D2 cows ranged from $70 to $96/cwt., while mature bulls were worth $100 to $130/cwt.
Jack said prices were “definitely strong,” especially for lightweight cattle.
“I think everybody’s starting to see that there aren’t going to be that many cattle around to buy. It’s definitely putting a very good floor on the market,” he said.
On the Chicago Mercantile Exchange, the February live cattle contract closed at US$157.550/cwt. on Jan. 12, up 20 cents from one week earlier. Two weeks prior, on Dec. 29, the contract hit a high of $159.175/cwt. The March feeder cattle contract closed at $184.275/cwt. on Jan. 12 after hitting $183.775/cwt., its lowest price since Dec. 20.
Sold cattle are not going in just one direction, Jack added.
“There’s a big chunk staying local. Ontario’s still getting their fair share and Alberta is taking quite a few on as well,” he said. “I don’t think there are too many going south (to the U.S.), but I think it will change in the coming weeks. It’s going to be very active.”
While prices are already strong, according to Jack, he doesn’t believe there’s a ceiling yet.
“I’m a strong believer that (prices are) going to get really, really strong as we get closer to April. It’s going to get very, very strong.”
Manitoba Beef Producers will host its annual general meeting and president’s banquet at the Victoria Inn in Winnipeg Feb. 2 and 3. The meeting will feature breakout sessions, panel discussions, a trade show and a resolutions debate. Resolutions will be accepted for consideration until Jan. 27 at 9 a.m. CST.
