Most cattle auction sites in Manitoba hosted regular sales during the week ended Sept. 21, with prices for feeder steers higher than ever.
The highest price for a steer was $525 per hundredweight at both Gladstone and Ste. Rose Auction Marts. Both weighed 400 pounds or less. All but one auction site, Winnipeg Livestock Sales, sold lightweight steers for $500/cwt. or more during the week. In the previous week, the highest price was $510/cwt. at Heartland Livestock Services and only Heartland and Gladstone sold lightweight steers for more than $500/cwt.
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Gladstone also had the highest price for a heifer at $450/cwt., compared to $405 the previous week at Ste. Rose.
As for slaughter cattle, D1 and D2 cow prices ranged from $117 to $138/cwt. compared to $120-$146.50 the week before. Mature bulls went for $105-$188/cwt. after going for $90-$188 the previous week.
Tyler Slawinski, auctioneer at Gladstone and Ashern Auction Marts, said producers believe the time is right to sell.
“They want to take full advantage on the prices that are there and available now. We’re starting to see a lot more cattle that are traded being lighter because the prices are so good. They’re selling well right now.”
Slawinski said that, while he doesn’t think prices can get much higher, feed grain prices have come down over the past few months and that may further support prices.
“(But) consumers just won’t pay that kind of money over the meat counter,” he added. According to Statistics Canada, prices for fresh and frozen beef increased by 2.4 per cent on average from July to August, as well as 11.9 per cent year over year.
“These high slaughter prices are going to help the bred market somewhat… But it’s still going to be high enough where these guys who are close to retirement are going to say, ‘It’s never been this high before. Why not cash the chips in now and maybe retire earlier than anticipated?’”
On the Chicago Mercantile Exchange, the December live cattle contract closed slightly lower than the week before at US$189.50/cwt. on Sept. 21, but reached an all-time high two days earlier at $192.05. The November feeder cattle contract also hit a contract high of $268.25/cwt. on Sept. 15, but closed at $262.70 on Sept. 21.
Slawinski said there was high demand for cattle from Ontario early in the fall run and he anticipates prices will come down once a new influx of cattle enters the market.
“There’s definitely been a flood of slaughter cows and bulls. I would say, as weaning starts, there’s going to be more of those cows and bulls coming to town that are normally culled.”
