Cattle markets were good last week in Sask.

Sask. cattle markets near the end of August looked good

Please find attached the Cattle Market Update for the week ending August 27, 2021. Highlights for the week include:

·       Feeder steer prices were mainly higher across the weight categories when compared to prices reported the previous week. Prices ranged from $267.50 per cwt for the 300-400lb weight category to $181.33 per cwt for the 900+lb weight category this week. The largest price increase was seen in the 500-600lb weight category, with prices improving $7.75 per cwt to end the week averaging $229.50 per cwt. The largest price decrease was seen in the 700-800lb weight category, with prices declining $1.45 per cwt to end the week averaging $199.50 per cwt.

·       Average weekly prices for Saskatchewan’s feeder heifers were also mostly higher across the reported weight categories when compared to prices the previous week. Prices ranged from $209.50 per cwt for the 300-400lb weight category to $174.67 cwt for the 800+lb weight category. The largest price increase was seen in the 500-600lb weight category, with prices improving $4.39 per cwt to end the week averaging $190.33 per cwt. The largest price decrease was seen in the 300-400lb weight category, with prices declining $7.30 per cwt to end the week averaging $209.50 per cwt.

·       Live cattle future contracts started the week out on a high note but trended downward throughout the remainder of the week as well. The August live cattle futures contract had a price decrease of US$2.275 per cwt relative to the previous week to settle at US$122.000 per cwt on Friday. The October contract had a small price increase of $0.075 per cwt compared to the previous week to settle Friday at US$129.125 per cwt.

·       Choice beef cutout prices (600-900 lb.) for the week averaged US$347.02 per cwt, up US$8.09 per cwt from US$338.93 per cwt the previous week, an increase of 2.4 per cent. The choice beef cutout is 50.9 per cent higher than the same week a year ago when it was valued at $229.91.

Sask. cattle markets near the end of August looked good