Beef prices hit record January high

Sunday, March 4, 2012

In January, rail grade prices for steers hit a record high for that month, topping out at just over $200, according to a report from the Ontario Cattlemen's Association. It was also the third highest monthly average price recorded in Ontario, with April 2001 coming in first at $207.78 and March 2001 second at $206.54. There was a difference on the cost side compared to 11 years ago, however. Corn prices in March and April 2001 averaged $3.61 per bushel. In January, 2012, corn averaged $6.34 per bushel. Replacement steers, 800-900 pounds, were worth more in 2001 than in 2011.

Production of beef from fed cattle in the first three weeks of January in Canada totalled 47,549 tonnes, down 11.5 per cent from the same three weeks last year. Imports from the United States were down 5.4 per cent. BF