Cattle producers should be smiling

According to Saskatchewan Agriculture and the latest Cattle Market Update for the week ending February 19 — markets were good. Highlights for the week include:

·         Feeder steer prices were mainly higher across the weight categories when compared to prices reported the previous week. The largest price increase was seen in the 400-500 lb weight category, increasing $8.53 per cwt to end the week at an average price of $253.38 per cwt. The only decrease week-over-week was seen in the 900+lb weight category which declined by $0.67 per cwt to end the week at an average price of $173.00 per cwt. The 800-900lb weight category ended the week at an average price of $181.80 per cwt. The weekly average steer price, across the reported weight categories, was $217.15 per cwt in Saskatchewan.

·         Saskatchewan feeder heifer prices were higher across all the reported weight categories when compared to prices the previous week. The largest price increase was seen in the 500-600lb weight category, increasing $9.00 per cwt to end the week at an average price of $199.00 per cwt. The smallest increase was seen in the 400-500lb weight category, with prices increasing by $1.60 per cwt to end the week at an average price of $209.10 per cwt. The 700-800lb weight category ended the week at an average price of $172.00 per cwt. The weekly average heifer price across the reported weight categories was $191.44 per cwt in Saskatchewan.

·         Live cattle futures prices saw the same trend throughout the week, ending the week lower overall with the February contract decreasing by US$1.275 per cwt relative to the previous week to settle at US$115.925 per cwt on Friday. The April contract saw a decrease of $1.500 per cwt compared to the previous week to settle at US$123.675 per cwt.

·         Choice beef cutout prices (600-900 lb.) for the week averaged US$236.56 per cwt, up US$2.79 per cwt from US$233.77 per cwt the previous week, an increase of 1.2 per cent. The Choice beef cutout is 15.0 per cent higher than the same week a year ago when it was valued at $205.71 per cwt

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