Cattle prices remain strong despite the heavy influx of cattle heading to Manitoba’s auction marts during the fall run, according to Allan Munroe of the Killarney Auction Mart.
“I think there’s a shortage of market-ready fat cattle. There’s strong demand and dwindling supply,” he said, noting a large number of light cattle are coming in for sale.
“I think it’s a reflection of the price. Those light steers are worth pretty good money.”
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At 1,347 head, the total sold at Killarney’s Nov. 6 auction was down slightly from its sale the week prior.
“We are still seeing a lot of light calves coming in, which is more than we usually do,” he said, pointing to Killarney’s forthcoming auctions.
“Our next two Mondays are full right up. Our sale on Nov. 27, it will be full probably in the next few days. They’re going to come right through to the end of December.”
While cattle quality has been good, Munroe said Killarney was starting to see variation.
“Some are chewing on stubble, some are weaned with lots of feed in them,” he said, noting the latter is more cost-effective.
“I do think the guys who are keeping [their cattle] and putting the pounds, there’s potential for them to get paid to put those pounds on. You look at $200 per head difference from 100 lb., the cost to gain that isn’t that high.”
While prices for cattle at the Chicago Mercantile Exchange always drive the North American cattle market, Munroe said cattle numbers in Canada and the U.S. continue to drop, which is a prime reason for high prices in Manitoba’s cattle industry.
As for Killarney’s Nov. 6 auction, he said prices were fully steady, showing little change from the Oct. 30 sale.
The biggest change came with the 300- to 400-lb. feeder steers, which sold for $465-$503 per hundredweight on Oct. 30. That same weight class fetched a little more last week at $470-$519/cwt.
There was a similar small gain with the 300- to 400-lb. feeder heifers, having sold for $340-$375/cwt. a week ago, compared to $345-$390/cwt. on Nov. 6.
Slaughter prices between the auction dates were virtually unchanged. D1-D2 cows held at $125-$135/cwt., while butcher steers dipped from $150-$160/cwt. at the prior sale to $140-$155.
