Please find attached this week’s Cattle Market Update. Highlights include:
· Feeder steer prices were lower this week with the 500-600 lb. steer category decreasing $1.58 per cwt to $231.17 per cwt. The 600-700 pound steers were the exception to the trend, increasing $2.21 per cwt compared with last week to average $216.00 per cwt. The 700-800 pound steers decreased $0.87 per cwt compared with last week to average $196.13 per cwt. The 800-900 pound steers decreased $5.50 per cwt over last week to $178.00 per cwt. The 400-500 pound steers averaged $237.60 per cwt. and the steers over 900 pounds averaged $169.63 per cwt. with no differential available due to no averages from the week prior.
· Saskatchewan feeder heifer prices were reported for a broader range this week, with weekly comparisons decreasing. Heifers weighing 400-500 pounds averaged $205.00 per cwt. The 500-600 pound heifers decreased $3.10 per cwt to $193.90 per cwt. Prices decreased $2.31 per cwt for 600-700 pound heifers to average $182.25 per cwt. The price of 700-800 pound heifers was $169.33 per cwt., a decrease of $5.42 per cwt. Heifers over 800 pounds averaged $157.00 per cwt.
· Feeder cattle futures decreased this week. The August futures feeder cattle contract settled at $131.10 per cwt. down $3.075 per cwt from last Friday’s US$134.175 per cwt settlement. The September feeder cattle contract decreased by $3.00 per cwt for the week to settle at US$132.475 per cwt.
· Live cattle futures prices were mixed this week, with the June contract increasing by US$2.175 per cwt relative to last week to settle at US$96.075 per cwt on Friday. The August contract decreased $0.85 per cwt compared to the previous week to settle at US$95.33 per cwt.
· Choice beef cutout prices (600-900 lb.) for the week averaged US$240.77 per cwt,
· down US$57.13 per cwt from US$297.90 per cwt the previous week, a decrease of 19.2 per cent. The Choice beef cutout remains $18.66 per cwt, or 8.4 per cent higher, then the same week a year ago when it was valued at $222.11 per cwt.