Please find attached this week’s Cattle Market Update. Highlights include:
·North American cattle markets were mixed last week.
·Saskatchewan feeder steer were mixed this week. Saskatchewan feeder steer prices ranged between $2.99 per cwt higher to $3.87 per cwt lower; compared to the previous week. The only reported price decrease was for the 400-500 lb. feeder steer weight category; while the largest price increase was in the 300-400 lb. feeder steer weight category.
· Saskatchewan feeder heifer prices were also mixed this week. Prices ranged from a decline of $2.20 per cwt to an increase of $1.50 per cwt; compared to the previous week. The largest reported price decline was in the 300-400 lb. feeder heifer weight category; while the only price increases was reported in the 800-900 lb. feeder heifer weight category.
· Feeder cattle daily futures were mixed throughout the week. Price declines experienced mid-week did not offset price increases to push prices lower, week-over-week for both nearby January and March Contracts, week-over-week. The nearby January contract decreased US$0.725 per cwt to settle Friday at US$141.550 per cwt; while the March contract had a price decrease of US$1.345 per cwt to settle Friday US$141.675 per cwt.
· Live daily cattle futures prices were also mixed over the week to push prices lower; week-over-week. The nearby December contract decreased US$1.000 per cwt to settle Friday at US$120.200 per cwt; while the February contract decreased US$1.225 per cwt over the week to settle Friday at US$124.975 per cwt.
· Choice beef cutout prices (600-900 lb.) for the week averaged US$227.97 per cwt over the week,
down US$4.39 per cwt from US$232.36 per cwt the previous week, and up 6.8 per cent from US$213.43 per cwt the same week a year ago.