Cattle prices lower than normal

400-500 lbs weight category takes big hit

Please find attached the latest Saskatchewan Cattle Market Update for the week ending May 14, 2021. Highlights for the week include the following:

·         Feeder steer prices were lower across the weight categories when compared to prices reported the previous week. The largest price decrease was seen in the 400-500lb weight category, declining $15.00 per cwt to end the week averaging $237.67 per cwt. The smallest price decrease week over week was in the 700-800lb weight category, with prices decreasing $0.55 per cwt to end the week averaging $195.70 per cwt. The 800-900lb weight category ended the week with an average price of $179.30 per cwt. The weekly average steer price across the reported weight categories was $203.81 per cwt in Saskatchewan.

·         Saskatchewan feeder heifer prices were lower across all the reported weight categories when compared to prices reported the previous week. The largest price decrease was seen in the 400-500lb weight category, with prices decreasing by $9.46 per cwt to end the week averaging $199.04 per cwt. The smallest price decrease was seen in the 800+lb weight category, with prices declining by $2.56 per cwt to end the week averaging $158.75 per cwt. The weekly average heifer price across the reported weight categories was $182.67 per cwt in Saskatchewan.

·         Live cattle future contracts started the week off trading higher but then reversed the trend mid-week, ending with the nearby June futures contracts slightly lower. The June live cattle futures contract saw a price decrease of US$0.725 per cwt relative to the previous week to settle at US$115.300 per cwt on Friday. The August contract saw a price decrease of $0.025 per cwt compared to the previous week to settle Friday at US$118.825 per cwt.

·         Choice beef cutout prices (600-900 lb.) for the week averaged US$314.06 per cwt, up US$10.55 per cwt from US$303.51 per cwt the previous week, an increase of 3.5 per cent. The Choice beef cutout is 31.6 per cent lower than the same week a year ago when it was valued at $459.04 per cwt when beef supplies were lower due to reduced slaughter at plants because of COVID-19.

400-500 lbs weight category takes big hit