Cattle prices look good across the board (week of Feb. 5)

Please find attached the latest Cattle Market Update for the week ending February 5, 2021.  Highlights for the week include:

·       Feeder steer prices were higher across the weight categories when compared to prices reported the previous week. The largest price increase was seen in the 700-800lb weight category, increasing $5.90 per cwt to end the week at an average price of $187.40 per cwt. The smallest increase was seen in the 300-400lb weight category, increasing by $1.47 per cwt to end the week at an average price of $263.30 per cwt. The 800-900lb weight category ended the week at an average price of $176.93 per cwt. The weekly average steer price, across the reported weight categories, was $210.64 per cwt in Saskatchewan.

·       Saskatchewan feeder heifer prices were mixed but mainly higher across the reported weight categories when compared to prices the previous week. The largest price increase was seen in the 500-600lb weight category, increasing $4.08 per cwt to end the week at an average price of $192.08 per cwt. Decreases were seen in both the 300-400lb and 800+lb weight categories, with prices decreasing by $3.25 per cwt and $2.36 per cwt respectively. The 700-800lb weight category had an increase of $2.83 per cwt to end the week at an average price of $167.00 per cwt. The weekly average heifer price across the reported weight categories was $185.62 per cwt in Saskatchewan.

·       Live cattle futures prices were also mixed throughout the week, ending the week higher overall with the February contract increasing by US$1.675 per cwt relative to the previous week to settle at US$116.725 per cwt on Friday. The April contract saw an increase of $1.925 per cwt compared to the previous week to settle at US$123.775 per cwt.

·       Choice beef cutout prices (600-900 lb.) for the week averaged US$235.31 per cwt, up US$5.03 per cwt from US$230.28 per cwt the previous week, an increase of 2.2 per cent. The Choice beef cutout is 11.6 per cent higher than the same week a year ago when it was valued at $210.85 per cwt.