Attached is the Cattle Market Update for March 4th:
Highlights for the week include:
Feeder steer prices were mostly down across the reported weight categories for the week. Prices ranged from $251.30 per cwt for the 300-400lb weight category to $180.23 per cwt for the 900+lb weight category. The only price increase was seen in the 400-500lb weight category with an increase of $1.21 per cwt to average $247.00 per cwt for the week. The largest price decrease was seen in the 300-400lb weight category with a price decrease of $7.03 per cwt to average the week at $251.30.
The average weekly prices for Saskatchewan’s feeder heifer prices were down across all the reported weight categories. Prices ranged from $205.25 per cwt for the 300-400lb weight category to $166.25 per cwt for the 800+lb weight category. The smallest price decrease reported was seen in the 700-800lb feeder heifer weight category with a decrease of $2.35 per cwt to average $173.40 per cwt for the week. The largest price decrease over the week was seen in the 600-700lb weight category with a price decrease of $6.66 per cwt to finish the week averaging $180.92 per cwt.
Nearby live cattle future contract prices also saw big price declines throughout the week. The April live cattle futures contract declined US$6.150 per cwt relative to the week of February 25thto settle Friday at US$135.775 per cwt. The June contract had a price decline of US$5.775 per cwt compared to February 25th, to settle Friday at US$132.525 per cwt.
Choice beef cutout prices (600-900 lb.) for the week averaged US$255.72 per cwt, a price decline of US$5.10 per cwt or 1.95 per cent from US$260.82 per cwt the week of February 25th.
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