With a combination of solid beef prices across the country, the new scale, and more than $500,000 recently handed out by the local co-operative group, this weekend’s cattle sale in Stratton is expected to be a good one.
“The sale price . . . will be strong and comparable with other sales,” said Peter Spuzak, president of the Rainy River Cattlemen’s Association. “The price is holding steady rather than decreasing.”
Spuzak said buyers from the Prairie provinces, southeastern Ontario, and the northern U.S. who were at the sale in Stratton last month are likely to show up again.
“Some of the out-of-town buyers were very impressed,” he remarked.
One of the biggest boosts for the auction this year may be the latest disbursement from the Rainy River Feeder Finance Co-operative, which finances area farms based on their farming track record and stock rather than on their equity.
“We just met last Monday, we tallied it up, and it was about $525,000,” said co-operative president Harold Duivenvoorden.
In total, roughly $550,000 has been disbursed recently and about $1 million over all this year.
“For sure it’s not only helping the members to purchase cattle, it strengthens the market for people who are selling cattle,” noted Duivenvoorden. “It keeps the prices up where they should be—at market value.”
The Rainy River Feeder Finance Co-operative is a three-party agreement backed by the federal government, processed by the co-operative, and most recently has moved to the Emo CIBC for financing in order to localize it even more.
“Any money the co-operative makes goes back to the community. It’s a really good program and now it seems to be growing in popularity,” explained Duivenvoorden.
“It’s kind of based on your ability to feed cattle and somewhat on trust.”
Duivenvoorden also expected the local market to be good this weekend.
“Lots of guys have lots of hay this year and grain prices are down so there’s more farmers putting their cattle through the ring,” he noted.
A final sale is slated Oct. 14 at the Stratton sales yard. It will be a chance for farmers to sell their top breeding stock as well as any other leftover cattle.
“It’s for farmers who feel they have some good breeding cattle or bulls that people can use to increase their herds,” said Spuzak.
This Saturday’s auction is scheduled to begin shortly after 9 a.m.
“I expect by the time the auctioneer starts to holler, it’ll be about 9:30,” noted Spuzak.