Please find attached the latest Cattle Market Update for the week ending March 26, 2021. Highlights for the week include the following:
- Feeder steer prices were mainly higher across the weight categories when compared to prices reported the previous week. The only price decrease was seen in the 500-600lb weight category, decreasing $1.83 per cwt to end the week averaging $229.17 per cwt. The largest price increase week-over-week was seen in the 400-500lb weight category which increased by $3.73 per cwt to end the week averaging $252.33 per cwt. The 800-900lb weight category ended the week with an average price of $177.50 per cwt. The weekly average steer price, across the reported weight categories, was $205.35 per cwt in Saskatchewan.
- Saskatchewan feeder heifer prices were mainly lower across all the reported weight categories when compared to prices the previous week. The only price increase was seen in the 700-800lb weight category, with prices increasing by $3.25 per cwt to end the week averaging $171.50 per cwt. The largest price decrease was seen in the 600-700lb weight category, decreasing $2.09 per cwt to end the week averaging $180.33 per cwt. The 800+lb weight category ended the week with an average price of $159.25 per cwt. The weekly average heifer price across the reported weight categories was $182.89 per cwt in Saskatchewan.
- Live cattle futures prices saw increases occurring throughout the week. Live cattle futures ended the week with the April contract improving by US$1.700 per cwt relative to the previous week to settle at US$120.100 per cwt on Friday. The June contract saw a price increase of $3.100 per cwt compared to the previous week to settle Friday at US$121.775 per cwt.
- Choice beef cutout prices (600-900 lb.) for the week averaged US$234.78 per cwt, up US$7.03 per cwt from US$227.75 per cwt the previous week, an increase of 3.1 per cent. The Choice beef cutout is 8.0 per cent lower than the same week a year ago when it was valued at $255.07 per cwt.