Beef prices hit record January high

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.