Please find included the latest Cattle Market Update, for the week ending September 24, 2021. Highlights for the week include the following:
· Feeder steer prices were mixed 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 $185.88 per cwt for the 900+lb weight category this week. The largest price increase was seen in the 800-900lb weight category, with prices improving $1.92 per cwt to end the week averaging $196.92. The largest price decrease was seen in the 300-400lb weight category, with prices declining $4.33 per cwt.
· Average weekly prices for Saskatchewan’s feeder heifers were mixed to lower across the reported weight categories when compared to prices the previous week. Prices ranged from $217.80 per cwt for the 300-400lb weight category to $175.50 cwt for the 800+lb weight category. The only price increase was seen in the 800+lb weight category, with prices improving $0.79 per cwt. The largest price decrease was seen the 500-600lb weight category, with prices declining $3.62 per cwt to end the week averaging $187.38 per cwt.
· Live cattle future contracts saw both ups and downs throughout the week, although ended the week higher overall. The October live cattle futures contract edged US$0.125 per cwt higher relative to the previous week to settle Friday at US$122.925 per cwt. The December contract saw a price increase US$0.625 per cwt compared to the previous week to settle Friday at US$128.150 per cwt.
· Choice beef cutout prices (600-900 lb.) for the week averaged US$308.76 per cwt, down US$11.46 per cwt from US$320.22 per cwt the previous week, a decrease of 3.6 per cent. The choice beef cutout is however 42.4 per cent higher than the same week a year ago when it was valued at $216.87.