There were more high-volume and high-priced sales at Manitoba cattle auction sites during the week ended Oct. 12.
All but two sites surpassed 1,000 cattle through the rings at their respective sales for a total of 12,444, while all sites except Grunthal Livestock Auction Mart sold a feeder steer for more than $500 per hundredweight.
The highest price was found at Ashern Auction Mart at its Oct. 11 sale with 330-lb. Charolais steers selling at $595/cwt. General manager Kirk Kiesman said the calf market is at the highest prices he has ever seen.
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“2015 would have had strong prices, but the prices this year are better than that,” he said. “Farmers deserve it after all the struggle they have had over the last couple of years. It’s good to see farmers getting rewarded for all the hard work they’ve been doing.
“People are optimistic that prices are going to stay strong and in a competitive market, there are not a lot of cattle out there. So if you want something good, then you’re going to have to pay for it.”
While prices for feeder steers continue to rise, prices for some feeder heifers and slaughter cattle are beginning to soften. D1 and D2 cows ranged in price from $110 to $157/cwt., compared to $115-$160 the week before. D3 to D5 cows cost between $90 and $125/cwt., lower than the range of $100-$128/cwt. one week earlier.
Kiesman said the end of the season is near for many yearlings as they make way for the upcoming calf run.
“Guys at feedlots are starting to switch from yearlings to feeder cattle now for calves off the cow,” he said. “The yearlings are almost done trading for the year.”
On the Chicago Mercantile Exchange, the December live cattle contract closed at US$187.80/cwt. on Oct. 12, a gain of $2.425 from the week before. This came after a $1.975/cwt. rally on Oct. 11. The November feeder cattle contract closed at $253.575/cwt. on Oct. 12, $3.275 higher than the previous week’s close.
While demand is still strong from Ontario, Kiesman said, cattle are also being sold to Alberta, Saskatchewan and the United States. When the calf run starts, he expects prices to remain strong but he’s leaving open the possibility for some declines.
“I think the prices are going to stay strong, but if there’s anything that might drop prices, it will be a labour and trucking shortage and issues with transportation. Right now, it looks like it will be the main thing that will draw back on prices,” he said.
