This week’s Cattle Market update provides both some positive and not to so positive numbers for beef producers. Highlights include:
- Feeder steer prices were lower this week with the 400-500 lb. steer category decreasing $5.25 per cwt to $232.35 per cwt. The 500-600 pound steers decreased $9.34 per cwt compared with last week to average $221.83 per cwt. The 600-700 pound steers decreased $7.67 per cwt to average $208.33 per cwt. while the 700-800 pound steers decreased $3.96 per cwt. relative to last week to average $192.17 per cwt. The 800-900 pound steers bucked the trend and increased by $1.67 per cwt. to average $179.67 per cwt. Steers over 900 pounds averaged $166.17 per cwt. a decrease of $3.46 per cwt from the week prior.
- Saskatchewan feeder heifer weekly price comparisons mostly increased in value. Heifers weighing 400-500 pounds were the only category to decrease in value, averaging $198.67 per cwt or $6.33 per cwt. lower than last week. The 500-600 pound heifers increased $1.93 per cwt to $195.83 per cwt. Prices remained steady for 600-700 pound heifers to average $182.25 per cwt. The price of 700-800 pound heifers was $172.17 per cwt., an increase of $2.84 per cwt. Heifers over 800 pounds averaged $161.75 per cwt. an increase of $4.75 per cwt. over last week.
- Nearby feeder cattle futures increased this week. The August futures feeder cattle contract settled at $132.550 per cwt. up $1.45 per cwt from last Friday’s US$131.100 per cwt settlement. The September feeder cattle contract increased by $1.40 per cwt for the week to settle at US$133.875 per cwt.
- Live cattle futures prices were steady to lower this week, with the June contract decreasing by US$1.375 per cwt relative to last week to settle at US$94.70 per cwt on Friday. The August contract increased $0.07 per cwt compared to the previous week to settle at US$95.40 per cwt.
- Choice beef cutout prices (600-900 lb.) for the week averaged US$220.34 per cwt,
down US$20.43 per cwt from US$240.77 per cwt the previous week, a decrease of 8.5 per cent. The Choice beef cutout is now $0.56 per cwt lower, or -0.3 per cent, then the same week a year ago when it was valued at $220.90 per cwt.