Please find attached the latest Cattle Market Update for the week ending September 3. Highlights for the week include the following:
· Feeder steer prices were mainly higher across the weight categories when compared to prices reported the previous week. Prices ranged from $272.88 per cwt for the 300-400lb weight category to $184.50 per cwt for the 900+lb weight category this week. The largest price increase was seen in the 400-500lb weight category, with prices improving $6.75 per cwt to end the week averaging $250.00 per cwt. The largest price decrease was seen in the 600-700lb weight category, with prices declining $3.65 per cwt to end the week averaging $210.35 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 $221.94 per cwt for the 300-400lb weight category to $177.35 cwt for the 800+lb weight category. The largest price increase was seen in the 300-400lb weight category, with prices improving $12.44 per cwt to end the week averaging $221.94 per cwt. The only price decrease was seen in the 500-600lb weight category, with prices declining $2.23 per cwt to end the week averaging $188.10 per cwt.
· Live cattle future contracts saw declines throughout most of the week, with the exception of Wednesday, ending the week lower overall. The October live cattle futures contract had a price decrease of US$4.325 per cwt relative to the previous week to settle at US$124.800 per cwt on Friday. The December contract had a similar price decline of $4.400 per cwt compared to the previous week to settle Friday at US$130.925 per cwt.
· Choice beef cutout prices (600-900 lb.) for the week averaged US$339.54 per cwt, down US$7.48 per cwt from US$347.02 per cwt the previous week, a decrease of 2.2 per cent. The choice beef cutout is 49.3 per cent higher than the same week a year ago when it was valued at $227.39.
· US corn prices decreased significantly on anticipation of harvest starting.
Natasha Wilkie, BSA, PAg (she/her) is the Government of Saskatchewan, A/Provincial Cattle Specialist (Livestock, Ministry of Agriculture)