Please find attached this week’s Cattle Market Update. Highlights include:
· Feeder steer prices were steady to higher this week with the 600-700 lb. steer category increasing $3.50 per cwt to $210.50 per cwt. The 700-800 pound steers increased $4.45 per cwt compared with last week to average $192.70 per cwt. The 800-900 pound steers increased $0.33 per cwt over last week to $174.50 per cwt. All other weight categories were not reported last week. The weekly average steer price was $206.96 per cwt in Saskatchewan.
· Saskatchewan feeder heifer prices for the 400-500 pound heifers experienced a reduction of $0.37 per cwt to $201.63 per cwt, while prices increased $2.77 per cwt for 700-800 pound heifers and $5.63 per cwt for 800+ pound heifers compared to the previous week. Comparisons for the remaining categories are not reported as a result of insufficient data the previous week. The weekly average heifer price was $181.27 per cwt in Saskatchewan.
· Feeder cattle futures increased this week. The August futures feeder cattle contract settled at $135.35 per cwt. up $6.55 per cwt from last Friday’s US$128.80 per cwt settlement. On Friday, the September contract increased by $5.60 per cwt for the week to settle at US$135.75 per cwt.
· Live cattle futures prices increased this week, with the June contract increasing by US$2.025 per cwt relative to last week to settle at US$99.725 per cwt on Friday. The August contract increased $2.275 per cwt compared to the previous week to settle at US$99.60 per cwt.
· Choice beef cutout prices (600-900 lb.) for the week averaged US$374.04 per cwt, down US$31.36 per cwt from US$405.40 per cwt the previous week, a decrease of 7.7 per cent. The Choice beef cutout remains $150.64 per cwt, 67.4 per cent higher, then the same week a year ago when it was valued at $223.40 per cwt.
Leah Clark MSc, PAg; Government of Saskatchewan; Provincial Cattle Specialist