Noon Report

Thursday, October 23, 2025

Prices are reported on a "per one hundred pound" basis, unless otherwise stated.

Ontario Live Cattle Trade

Updated daily as the information is submitted, completed by 12:00 noon.

Ontario Livestock Exchange

Today at Ontario Livestock Exchange (OLEX), there are 350 fed cattle, 375 cows, and  900 stockers on offer.

Fed cows are selling on a steady trade with good cows from $171.00-$205.00 with top of $240.00/cwt.

Ontario Auction Sales Weighted Average Prices

Ontario auction sales on Wednesday saw weighted average prices for:

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Livestock Range Avg Top Price
Large & medium frame fed steers 226.43-310.63 281.34 314.00
Large & medium frame fed heifers 304.06-310.44 305.76 317.00
Cows 143.60-223.70 179.38 285.00
Bulls under 1600 lbs 192.63-290.74 241.94 307.00
Bulls over 1600 lbs 216.14-253.07 234.85 262.00
Veal 600 lbs and over 297.95-434.64 368.67 450.00
Veal under 125 lbs 1300.00-2400.00 1661.64 2600.00
Replacement steers 1000+ 441.63-486.53 463.06 487.00
Replacement steers 900-999 467.70-511.72 490.36 517.00
Replacement heifers 900+ 379.84-429.21 414.46 441.00
Replacement heifers 800-899 412.50-446.00 426.52 446.00

View Individual Auction Market Reports

Alberta Direct Trade

Alberta Direct Trade

The Alberta direct trade on Wednesday with dressed sales reported at $500.00/cwt delivered, $5.00-$8.00/cwt lower than last week. Competition on the cash market is disappointing. One major packer is still not bidding on the cash market while other Western Canadian packers are likely getting more calls than normal. US packer interest has been noted, and very light volumes of Western Canadian fed cattle have been marketed South. These cattle will be priced off the five-area average. The cattle feeder is in a tough spot right now. Basis levels have weakened, a sign to keep cattle on feed. Yet, with fed cattle prices holding around $300.00/cwt on a live basis, cattle are still profitable if they were sold today.

 

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Steers Live N/T Flat Rail 500.00
Heifers Live N/T Flat Rail 500.00

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U.S. Trade (U.S. funds)

U.S. cash cattle trade

The U.S. cash cattle trade saw light trade reported in Iowa and Nebraska yesterday with dressed sales at $372.00/cwt, steady with the previous week. Live sales in the North ranged from $239.00-$240.00/cwt, $1.00/cwt lower. Business in the Southern feeding states has been quiet with no bids to speak of. Volatility in the futures market has been extreme making it extremely tough for anyone in the industry to manage risk. Yesterday feeder cattle contracts closed limit down, but the cattle complex is rebounded today with strong gain on live cattle contracts. 

     
Choice and select steers and heifers (2/3 choice): live 239.00-240.00
  rail 372.00-372.00

Chicago Mercantile Exchange

The Chicago Mercantile Exchange midsession trade on Thursday, Oct 23 saw:

Live Cattle futures for:

Date $/cwt US  
Oct 239.72 +0.67
Dec 241.30 +1.47
Feb 240.80 +0.42
Apr 240.07 -0.05
Jun 232.82 -0.07
Aug 228.62 -0.05

Feeder Cattle futures for:

Date $/cwt US  
Oct 364.32 -0.75
Nov 363.32 -0.90

Corn futures for:

Date $/bu US cents
Dec 4.23 1/2 +1/2
Mar 4.37 +1 1/4

Soybean futures for:

Date $/bu US cents
Nov 10.39 1/2 +4 3/4
Jan 10.56 1/2 +6 1/2

Soft Red Winter Wheat for:

Date $/bu US cents
Dec 5.08 1/4 +4 1/2
Mar 5.23 3/4 +4 1/4

Canadian Dollar futures for:

Date    
Dec 71.62 -0.05
Mar 71.94 -0.01

This concludes the Thursday mid-day Cattle Market report.

View Individual Auction Market Reports View Northern Reports