Cattle market mixed

Please find attached the latest Cattle Market Update for the week ending May 21. Highlights for the week include:

·         Feeder steer prices were mixed to higher across the weight categories when compared to prices reported the previous week. The largest price increase was seen in the 400-500lb weight category, improving $5.50 per cwt to end the week averaging $243.17 per cwt. The largest price decrease week over week was in the 600-700lb weight category, with prices decreasing $1.83 per cwt to end the week averaging $211.17 per cwt. The 800-900lb weight category ended the week with an average price of $180.00 per cwt. The weekly average steer price across the reported weight categories was $204.62 per cwt in Saskatchewan.

·         Saskatchewan feeder heifer prices were mixed across the reported weight categories when compared to prices reported the previous week. The largest price increase was seen in the 600-700lb weight category, with prices increasing by $4.18 per cwt to end the week averaging $182.10 per cwt. The largest price decrease was seen in the 800+lb weight category, with prices declining by $1.55 per cwt to end the week averaging $157.20 per cwt. The weekly average heifer price across the reported weight categories was $180.09 per cwt in Saskatchewan.

·         Live cattle future contracts saw a large increase on Tuesday and then trended sideways for the remainder of the week, ending the week higher. The June live cattle futures contract saw a price increase of US$2.375 per cwt relative to the previous week to settle at US$117.675 per cwt on Friday. The August contract saw a price increase of $2.100 per cwt compared to the previous week to settle Friday at US$120.925 per cwt.

·         Choice beef cutout prices (600-900 lb.) for the week averaged US$323.14 per cwt, up US$9.08 per cwt from US$314.06 per cwt the previous week, an increase of 2.9 per cent. The Choice beef cutout is 20.3 per cent lower than the same week a year ago when it was valued at $405.40 per cwt when beef supplies were lower due to reduced slaughter at plants because of COVID-19.

Natasha Wilkie, BSA, PAg

A/Provincial Cattle Specialist

Livestock Branch, Ministry of Agriculture

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