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The Manitoba Co-operator | June 14, 2012

LIVESTOCK MARKETS

EXCHANGES: June 8, 2012

$1 Cdn: $1.0332 U.S. $1 U.S: $.9678 Cdn.

COLUMN

Cattle Prices Winnipeg

(Friday to Thursday) Slaughter Cattle

June 8, 2012

Steers & Heifers — D1, 2 Cows 74.00 - 83.00 D3 Cows 64.00 - 74.00 Bulls 87.00 - 99.50 Feeder Cattle (Price ranges for feeders refer to top-quality animals only) Steers (901+ lbs.) — (801-900 lbs.) — (701-800 lbs.) 140.00 - 149.00 (601-700 lbs.) 145.00 - 162.00 (501-600 lbs.) 150.00 - 169.00 (401-500 lbs.) — Heifers (901+ lbs.) — (801-900 lbs.) — (701-800 lbs.) 123.00 - 133.50 (601-700 lbs.) 130.00 - 138.00 (501-600 lbs.) 140.00 - 149.00 (401-500 lbs.) 145.00 - 155.00 Slaughter Cattle Grade A Steers Grade A Heifers D1, 2 Cows D3 Cows Bulls Steers

Alberta South $ 113.60 - 115.25 115.25 78.00 - 92.00 70.00 - 81.00 — $ 120.00 - 136.00 130.00 - 148.00 144.00 - 158.00 155.00 - 175.00 165.00 - 189.00 175.00 - 195.00 $ 115.00 - 130.00 120.00 - 138.00 130.00 - 149.00 137.00 - 155.00 146.00 - 166.00 155.00 - 172.00

($/cwt) (1,000+ lbs.) (850+ lbs.)

(901+ lbs.) (801-900 lbs.) (701-800 lbs.) (601-700 lbs.) (501-600 lbs.) (401-500 lbs.) (901+ lbs.) (801-900 lbs.) (701-800 lbs.) (601-700 lbs.) (501-600 lbs.) (401-500 lbs.)

Heifers

A stronger U.S. dollar encouraged southbound traffic

Close 119.35 120.42 125.00 128.47 130.50 132.10

Change 2.25 1.52 1.30 1.97 2.28 2.00

Cattle Slaughter Canada East West Manitoba U.S.

Feeder Cattle August 2012 September 2012 October 2012 November 2012 January 2013 March 2013

CNSC

Ontario $ 108.16 - 123.01 108.22 - 121.26 62.77 - 83.34 62.77 - 83.34 83.84 - 102.72 $ 127.04 - 141.67 133.05 - 150.52 133.92 - 157.68 138.76 - 171.71 145.58 - 186.91 150.39 - 190.45 $ 118.38 - 128.06 116.72 - 133.04 121.32 - 141.78 122.85 - 150.25 141.59 - 166.22 140.88 - 173.41

Close 159.10 160.20 161.22 162.25 161.87 162.00

Change 2.30 2.08 1.97 1.88 1.35 1.00

Cattle Grades (Canada)

Week Ending June 2, 2012 53,057 11,954 41,103 — —

Previous Year­ 55,211 13,274 41,937 — —

Week Ending June 2, 2012 583 25,585 18,721 966 816 5,502 52,427

Prime AAA AA A B D E

Previous Year 349 22,800 21,870 1,653 539 3,120 324

Hog Prices Source: Manitoba Agriculture

(Friday to Thursday) ($/100 kg) MB. ($/hog) MB. (All wts.) (Fri-Thurs.) MB. (Index 100) (Fri-Thurs.) ON (Index 100) (Mon.-Thurs.) P.Q. (Index 100) (Mon.-Fri.)

Current Week 182.00E 167.00E 162.40 164.56

Futures (June 7, 2012) in U.S. Hogs June 2012 July 2012 August 2012 October 2012 December 2012

Last Week 176.07 161.49 157.46 162.14

Close 93.07 93.32 92.02 83.22 80.32

Last Year (Index 100) 174.64 160.52 160.59 165.36

Change 3.27 2.32 1.07 0.35 0.30

Other Market Prices Sheep and Lambs $/cwt Ewes Lambs (110+ lb.) (95 - 109 lb.) (80 - 94 lb.) (Under 80 lb.) (New crop)

Winnipeg 70.00 - 95.00 — — 160.00 - 190.00 180.00 - 205.00 ­—

Chickens Minimum broiler prices as of May 23, 2010 Under 1.2 kg................................... $1.5130 1.2 - 1.65 kg.................................... $1.3230 1.65 - 2.1 kg.................................... $1.3830 2.1 - 2.6 kg...................................... $1.3230

Turkeys Minimum prices as of June 10, 2012 Broiler Turkeys (6.2 kg or under, live weight truck load average) Grade A .................................... $1.980 Undergrade .............................. $1.890 Hen Turkeys (between 6.2 and 8.5 kg liveweight truck load average) Grade A .................................... $1.965 Undergrade .............................. $1.865 Light Tom/Heavy Hen Turkeys (between 8.5 and 10.8 kg liveweight truck load average) Grade A .................................... $1.965 Undergrade .............................. $1.865 Tom Turkeys (10.8 and 13.3 kg, live weight truck load average) Grade A..................................... $1.930 Undergrade............................... $1.845 Prices are quoted f.o.b. farm.

Toronto 60.98 - 99.34 157.29 - 202.38 190.55 - 203.46 177.23 - 200.57 190.76 - 265.20 —

SunGold Specialty Meats 50.00 - 60.00

Eggs Minimum prices to producers for ungraded eggs, f.o.b. egg grading station, set by the Manitoba Egg Producers Marketing Board effective June 12, 2011. New Previous A Extra Large $1.8500 $1.8200 A Large 1.8500 1.8200 A Medium 1.6700 1.6400 A Small 1.2500 1.2200 A Pee Wee 0.3675 0.3675 Nest Run 24 + 1.7490 1.7210 B 0.45 0.45 C 0.15 0.15

Goats Winnipeg Toronto ($/cwt) ($/cwt) Kids 200.00 - 225.00 84.47 - 282.17 Billys 120.00 - 175.00/hd — Mature 160.00 - 280.00/hd 40.06 - 167.83

Horses <1,000 lbs. 1,000 lbs.+

Winnipeg ($/cwt) — —

Table: Cattle market schedules

Terryn Shiells

Futures (June 7, 2012) in U.S. Fed Cattle June 2012 August 2012 October 2012 December 2012 February 2013 April 2013

Summer slowdown supports values at auctions

Toronto ($/cwt) 22.00 - 39.00 30.98 - 47.90

C

attle prices at Manitoba auctions were steady to stronger during the week ended June 8, as there was a smaller number of cattle for sale. Rick Wright, buyer with Heartland Order Buying Co., said cattle numbers normally slow down a little bit as the summer months approach, but this year the number of cattle at auction was lower than usual. “Pasture conditions are good and the future prices for fall are extremely strong,” he said. “So, a lot of producers were encouraged to just go to the pasture with their cattle rather than sell them now.” Wright said feeder cattle prices were steady to higher due to strong demand. As the U.S. dollar strengthened against the Canadian dollar last week, U.S. buyers found Manitoba cattle less expensive, and more attractive, he said. “The feeder cattle market was extremely aggressive on all classes of cattle… we saw most classes running two to five cents per pound higher than the previous week,” he said. “Most of that was due to the U.S. buyers being much more competitive than they normally are.” The bull market was also two to five cents higher per pound, following the same price trend as the feeder cattle market, Wright said. The slaughter market was steady to one to two cents higher as the hamburger market provided a strong demand for butcher cattle, and the U.S. dollar’s strength provided support, he said. The finished cattle market saw a very light offering of cattle from Manitoba, he said. “We’re not feeding very many cattle in Manitoba because we had no barley crop last year to feed them… So, to put them to pasture and feed them to gain weight makes the cost very high.” However, he said, the finished cattle market remained steady as a larger offering from other western provinces made up for the small number of cattle that came out of Manitoba. It is unusual for cattle prices in Manitoba to remain steady, never mind experience gains at this point in the season, he said. “Normally this time of year the cattle would be all discounted because the buying numbers are so shy and it takes so long to put a load together of uniform cattle from so many different sources,” he said. However, because local demand was very strong the market wasn’t impacted by the summer slowdown this week, Wright said. Only six of nine cattle market auctions in

Ashern Last sale June 13, reopens in August Brandon Sales continue throughout the summer Gladstone Now closed until mid-August Grunthal Sales continue every Tuesday throughout the summer Killarney Regular biweekly sales throughout the summer Ste. Rose du Lac Will have sales June 14 and 21, then close until fall Taylor (Melita) Sales continue throughout the summer Virden Slowing down to biweekly sales in July and August (Note: no butcher sales on Mondays until fall 2012) Winnipeg Sales continue throughout the summer

“…a lot of producers were encouraged to just go to the pasture with their cattle rather than sell them now.” rick wright

Manitoba held sales this week as they slow down for the summer. See the schedule table for information on when auctions will be held over the next few months. There was a lot of contracting of Manitoba cattle for the fall months done between producers and U.S. buyers, Wright said. The interest of buyers from the U.S. to contract Manitoba cattle for the fall grew as they wanted to lock in prices while their currency is stronger than the Canadian unit. “There were huge volumes of Manitoba cattle that were contracted in the past week and prices for those cattle were three to seven cents per pound higher than anticipated, but there were a lot of them,” he said. Because the cows are already technically sold, he said they will not be at auctions in August, September and October. However, he said, it won’t have a big effect on the volumes that will go to auction during the fall months. “They’re not calves, they’re all yearlings off the pasture, and the trend has been on those big strings of yearling cattle to go direct,” Wright said. The large volumes of cattle being contracted this week may not have a big effect on the number of cattle that will be offered at auctions in the fall, he said, but it does provide “extreme optimism” for prices in the fall. Terryn Shiells writes for Commodity News Service Canada, a Winnipeg company specializing in grain and commodity market reporting.

news

CFTC allows CME to open early for crop reports chicago / reuters / The Commodity Futures Trading Commission approved the Chicago Board of Trade’s

plan to start open-outcry grain trading early on days the U.S. government issues major agricultural reports, a commission spokesman said June 11. CME Group, owner of the CBOT, told the CFTC it wanted to start pit trading at 7:20 a.m. CDT, instead

of the traditional opening time of 9:30 a.m., when the U.S. Department of Agriculture issues major reports. The CFTC did not object to the change after a 10-day review of the plan. The change was to take effect on June 12.

Looking for results?  Check out the market reports from livestock auctions around the province. » PaGe 8

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