Please find attached this week’s Cattle Market Update. Highlights include:
- Saskatchewan feeder steer prices were mixed this week with price comparisons in the weight categories above 500 lbs. and below 900+ lbs. Feeder steer prices ranged from $7.33 per cwt lower to $2.34 per cwt higher compared to last week prices. The largest recorded price decline over the week was for the 800-900 lb. feeder steer weight category while the largest price gains were reported in the 600-700 lb. feeder steer weight category. Saskatchewan feeder steer prices decreased an average of $2.19 per cwt this week compared to last week prices.
- Saskatchewan feeder heifer weekly price comparisons mostly decreased in value this week. Heifer prices ranged from $4.75 per cwt lower to $2.66 per cwt higher compared to last week prices. The largest price declines were for the 800+ lb. heifers while the only price increase was reported for the 400-500 lb. heifers. Saskatchewan feeder heifers decreased and average of $1.08 per cwt compared to prices last week.
- Nearby feeder cattle futures experienced slight increases this week. The August futures feeder cattle contract settled at $132.800 per cwt. up $0.250 per cwt from last Friday’s US$132.550 per cwt settlement. The September feeder cattle contract increased by $0.050 per cwt for the week to settle at US$133.925 per cwt.
- Live cattle futures prices were steady to higher this week, with the June contract settling the same as last week to settle at US$94.700 per cwt on Friday. The August contract increased $0.630 per cwt compared to the previous week to settle at US$96.03 per cwt.
- Choice beef cutout prices (600-900 lb.) for the week averaged US$210.20 per cwt,
down US$10.14 per cwt from US$220.34 per cwt the previous week. The Choice beef cutout is now $9.35 per cwt lower, then the same week a year ago when it was valued at $219.55 per cwt.