Please find attached the latest Cattle Market Update for the week ending March 5. Highlights for the week include the following:
· Feeder steer prices were mixed across the weight categories when compared to prices reported the previous week. The largest price increase was seen in the 400-500lb weight category, increasing $2.89 per cwt to end the week averaging $254.75 per cwt. The largest price decrease week-over-week was seen in the 700-800lb weight category which declined by $4.71 per cwt to end the week averaging $188.50 per cwt. The 800-900lb weight category ended the week with an average price of $178.10 per cwt. The weekly average steer price, across the reported weight categories, was $216.04 per cwt in Saskatchewan.
· Saskatchewan feeder heifer prices were lower across all the reported weight categories when compared to prices the previous week. The smallest price decrease was seen in the 500-600lb weight category, decreasing $1.80 per cwt to end the week averaging $197.70 per cwt. The largest price decrease was seen in the 300-400lb weight category, with prices decreasing by $6.40 per cwt to end the week averaging $211.30 per cwt. The 700-800lb weight category ended the week with an average price of $167.30 per cwt. The weekly average heifer price across the reported weight categories was $187.28 per cwt in Saskatchewan.
· Live cattle futures prices saw both ups and downs this week, ending the week slightly lower. Live cattle futures ended the week with the April contract declining by US$0.975 per cwt relative to the previous week to settle at US$119.025 per cwt on Friday. The June contract saw a price decline of $0.425 per cwt compared to the previous week to settle Friday at US$118.000 per cwt.
· Choice beef cutout prices (600-900 lb.) for the week averaged US$234.39 per cwt, down US$6.00 per cwt from US$240.39 per cwt the previous week, a decrease of 2.5 per cent. The Choice beef cutout is 13.3 per cent higher than the same week a year ago when it was valued at $206.94 per cwt.
If you have any questions regarding the report, please don’t hesitate to give me a call.