Cattle prices generally lower in Sask. for week ending Nov. 5

Posted on 10 November 2021 by Prairie Post

Please find attached the Cattle Market Update for the week ending November 5. Highlights include the following:

·         Feeder steer prices were mainly lower for the majority of weight categories when compared to prices reported the previous week. Prices ranged from $261.55 per cwt for the 300-400lb weight category to $176.00 per cwt for the 900+lb weight category this week. The only price increase was seen in the 900+lb weight category, with prices improving $4.33 per cwt to end the week averaging $176.00 per cwt. The largest price decline was seen in the 300-400lb weight category, with prices declining $8.35 per cwt to end the week averaging $261.55 per cwt.

·         Average weekly prices for Saskatchewan’s feeder heifers saw mainly losses across the reported weight categories when compared to prices reported the previous week. Prices ranged from $201.89 per cwt for the 300-400lb weight category to $165.25 cwt for the 800+lb weight category. The only price increase was seen in the 300-400lb weight category, with prices improving $0.17 per cwt to end the week averaging $201.89 per cwt. The largest price decline was seen the 400-500lb weight category, with prices declining $3.79 per cwt to end the week averaging $184.77 per cwt.

·         Nearby live cattle future contracts saw both ups and downs throughout the week, ending the week higher overall. The December live cattle futures contract increased US$2.525 per cwt relative to the previous week to settle Friday at US$131.800 per cwt. The January contract saw a price increase of US$2.900 per cwt compared to the previous week to settle Friday at US$137.125 per cwt.

·         Choice beef cutout prices (600-900 lb.) for the week averaged US$288.64 per cwt, up US$4.23 per cwt or 1.5 per cent from US$284.41 per cwt the previous week. The choice beef cutout value is 36.8 per cent higher than the same week a year ago when it was valued at $211.03.

Again, a special thank-you goes out to Lexi Hicks-Macza, Livestock Development Intern for her help putting together this week’s Cattle Market Update.