Beef markets mixed

Please find the latest Cattle Market Update for the week ending August 20. Highlights for the week include the following:

·         Feeder steer prices were mixed across the weight categories when compared to prices reported the previous week. Prices ranged from $266.13 per cwt for the 300-400lb weight category to $178.30 per cwt for the 900+lb weight category this week. The largest price increase was seen in the 600-700lb weight category, with prices improving $1.77 per cwt to end the week averaging $210.40 per cwt. The largest price decrease was seen in the 400-500lb weight category, with prices declining $2.62 per cwt to end the week averaging $244.38 per cwt.

·         Average weekly prices for Saskatchewan’s feeder heifers were also mixed across the reported weight categories when compared to prices the previous week. Prices ranged from $216.80 per cwt for the 300-400lb weight category to $172.46 per cwt for the 800+lb weight category. The largest price increase was seen in the 300-400lb weight category, with prices improving $3.60 per cwt to end the week averaging $216.80 per cwt. The largest price decrease was seen in the 600-700lb weight category, with prices declining $3.28 per cwt to end the week averaging $185.10 per cwt.

·         Live cattle future contracts also saw mixed prices throughout the week, but ended the week higher overall. The August live cattle futures contract had a price increase of US$1.525 per cwt relative to the previous week to settle at US$124.275 per cwt on Friday. The October contract had a smaller price increase of $0.925 per cwt compared to the previous week to settle Friday at US$129.050 per cwt.

·         Choice beef cutout prices (600-900 lb.) for the week averaged US$338.93 per cwt, up US$27.19 per cwt from US$311.74 per cwt the previous week, an increase of 8.7 per cent. The choice beef cutout is 52.3 per cent higher than the same week a year ago when it was valued at $222.50.

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