Please find attached the latest Cattle Market Update for the week ending March 12. Highlights for the week include:
· Feeder steer prices were mainly lower across the weight categories when compared to prices reported the previous week. The only price increase was seen in the 700-800lb weight category, increasing $0.30 per cwt to end the week averaging $188.80 per cwt. The largest price decrease week-over-week was seen in the 300-400lb weight category which declined by $11.07 per cwt to end the week averaging $261.33 per cwt. The 800-900lb weight category ended the week with an average price of $175.70 per cwt. The weekly average steer price, across the reported weight categories, was $212.49 per cwt in Saskatchewan.
· Saskatchewan feeder heifer prices were mainly higher across all the reported weight categories when compared to prices the previous week. The only price decrease was seen in the 500-600lb weight category, decreasing $1.03 per cwt to end the week averaging $196.67 per cwt. The largest price increase was seen in the 300-400lb weight category, with prices increasing by $4.95 per cwt to end the week averaging $216.25 per cwt. The 700-800lb weight category ended the week with an average price of $171.10 per cwt. The weekly average heifer price across the reported weight categories was $189.67 per cwt in Saskatchewan.
· Nearby live cattle futures prices traded sideways this week, ending the week slightly lower while the June contract saw increases most days. Live cattle futures ended the week with the April contract declining by US$0.025 per cwt relative to the previous week to settle at US$119.000 per cwt on Friday. The June contract saw a price increase of $2.425 per cwt compared to the previous week to settle Friday at US$120.425 per cwt.
· Choice beef cutout prices (600-900 lb.) for the week averaged US$227.99 per cwt, down US$6.40 per cwt from US$234.39 per cwt the previous week, a decrease of 2.7 per cent. The Choice beef cutout is 10.1 per cent higher than the same week a year ago when it was valued at $207.15 per cwt.