Please find attached this week’s Cattle Market Update (April 13):
- Saskatchewan feeder steer prices experienced overall price decreases over the week with price comparisons from all the weight categories from the previous week. Saskatchewan feeder steer prices ranged from a decreased of $5.24 per cwt to a decrease of $10.08 per cwt over the week. The smallest price decrease was for the 700-800 lb. feeder steer weight category; while the largest decreases were in the 600-700lb. weight category. On average, Saskatchewan feeder steer prices decreased by $8.16 per cwt over the week.
- Saskatchewan feeder heifer prices experienced a single increase but followed similar trends to steers over the week. Prices ranged from a price increase of $0.58 per cwt; to a price decrease of $4.21 per cwt; compared to the previous week. The only reported price increase was in the 500-600 lb. feeder heifer weight category; while the largest price decrease was in the 600-700 lb. feeder heifer weight category.
- Feeder cattle daily futures were mixed over the week with strong increases early in the week. In general, the volatility is coming from the influences of COVID-19 on the markets. The nearby April contract increased US$11.275 per cwt to settle Friday at US$119.525 per cwt. The May contract increased $10.850 per cwt to settle Friday at US$118.950 per cwt.
- Live daily cattle futures prices followed similar trends to the feeder futures. Both April and June contracts experienced price increases compared to the previous week. The April contract increased US$5.675 per cwt to settle Friday at US$94.00 per cwt. The June contract increased $3.525 per cwt compared to the previous week to settle at US$84.380.
- Choice beef cutout prices (600-900 lb.) for the week averaged US$225.37 per cwt over the week,
down US$13.10 per cwt from US$238.47 per cwt the previous week, and down 1.5 per cent from US$228.72 per cwt the same week a year ago.