MARKET INFORMATION UPDATE By Jamie Gamble, BFO Market Information Coordinator markets@ontariobeef.com • www.ontariobeef.com
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tatistics Canada released the January 1st Cattle Inventory in March and looking at Ontario numbers, fed steers on Ontario farms as of Jan 1, 2022 total 250,800 head, up 2.93% from Jan 1, 2021 and 2.3% more than in 2020. However, steer volumes on Jan 1, 2022 are the third lowest since 2014. Heifer volumes held fully steady to last January at 142,000 head, and were up 12.3% from Jan 1, 2020. 2021 and 2022 volumes are the highest since 2012. Beef cow volumes reported on Ontario farms continue to decline with the Jan 1, 2022 volume at 234,600 head, down 2.6% from 2021 and 5.8% below Jan 1, 2020. The Jan 1, 2022 volume of beef cows is the lowest January 1st inventory since 1951. Replacement heifer volumes on Ontario farms as of Jan 1, 2022 total 42,500 up 5.2% from 2021 and 1% more than in 2020. The Jan 1, 2022 volume is the highest January 1st inventory since 2016 and is the fourth largest January 1st volume in this data set of 15 years. The Ontario inventory of calves under one year of age as of Jan 1, 2022 is reported at 458,700 head, up 5.1% from Jan 1, 2021 and 11% more than 2020 and is the largest January 1st inventory since 2013. Ontario provincial processing volumes for fed cattle, cows and bulls as of Feb 28th total 14,432 head up 1.2% from 2021 and up 23.7% from 2020. In that mix, steers are up 6.4% from 2021, heifers fully steady, cull cows down 4.3% and bulls down 12.3% from last year. At federally inspected plants volumes processed as of April 15, 2022 are at 172,454 head up 2.3% from the same time in 2021 and 6.6% above April 15, 2020. The federal processing volume year-to-date (April 15, 2022) is the second largest in this ten-year data set. The volume of steers processed federally are up 1.15% from April 15, 2021 with heifers down 13.7% compared to 2021. Cull cow volumes as of April 15, 2022 are up 23.3% from the same time in 2021. Although cull cow volumes were very high to start the year, the numbers have dropped considerably from the end of March with weekly processing volumes now in line with the last two years at this time. Exports of live cattle to the U.S. through Ontario ports are down considerably this year compared to the last few years. As of Feb 28, 2022 there has been a total of 389 fed steers exported down 72% from last year at this time, fed heifers total 2,886 head down 27% and cows total 7,958 head down 35% from the same time last year. The lighter cow exports to the U.S. have contributed to more cull cows being processed in Ontario. At time of reporting mid April, the cash cattle trade in Ontario has been steady at $290.00 dressed for steers for 16 straight
weeks, with heifers $289-290 dressed. High feed costs have kept cattle current with weights below average for this time of year. Cull cows are seeing lighter volumes come to market on the dairy breeds while beef cow numbers have increased over last year. Recent cow prices are very strong and have not been this high since the fall of 2015. As of April 16, there were 51,013 stocker and feeder cattle sold through Ontario auction markets year to date, which is down 13.2% from April 16, 2021, down 7% from 2020, down 1.5% from 2019 but 5.5% more than April 16, 2018. At time of reporting the spring stocker sales are about to ramp up. On the graphs included, please note that April values are from April 1-15 due to reporting deadlines. Heavier stocker steers and heifers over 900 pounds have had a stronger first quarter compared to previous years but values have declined from the January high. Heifers 700-900 pounds are also above the last two years and the five-year average. Lighter weights have been steady to stronger than 2021 for most categories and all classes of cattle are stronger than the five-year average. The market information section of our website can help you keep an eye on current market prices. For those without technology, BFO provides a tapeline which is updated twice a day with the day’s auction market sale reports, railgrade prices, cattle futures and the Alberta and U.S. markets. This can be accessed toll free at 1-866-370-2333 or locally at 519-824-0334. Just dial extension 301 for the noon report and 300 for the night report or the rail report. Daily and weekly reports are available on the BFO website under Market Info at www.ontariobeef.com or via email or fax. The weekly report is available by regular mail for those without access to the internet. OB
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