Attached is the Cattle Market Update for March 25th.
Highlights for the week include:
Feeder steer prices were mixed across the reported weight categories for the week compared to the week ending March 18th. Prices ranged from $249.75 per cwt for the 400-500lb weight category to $179.17 per cwt for the 900+lb weight category. The largest price increase was seen in the 500-600lb weight category with an increase of $5.75 per cwt to average $244.75 per cwt for the week. The largest price decrease was seen in the 700-800lb weight category with a price decrease of $1.57 per cwt to average the week at $197.83. The price for the 300-400lb weight category was not available for this week.
The average weekly prices for Saskatchewan’s feeder heifer prices saw a similar mix across all the reported weight categories compared to March 18th. Prices ranged from $197.50 per cwt for the 300-400lb weight category to $166.50 per cwt for the 800+lb weight category. The largest price increase reported was seen in the 700-800lb weight category with an increase of $4.45 per cwt to average $177.83 per cwt for the week. The largest price decrease over the week was seen in the 500-600lb weight category with a price decrease of $3.10 per cwt to finish the week averaging $190.90 per cwt.
Nearby live cattle future contract prices were mixed throughout the week. The April live cattle futures contract declined slightly (US$0.025 per cwt) relative to the week of March 18th to settle Friday at US$140.475 per cwt. The June contract had a small price increase of US$0.300 per cwt compared to March 18th, to settle Friday at US$137.375 per cwt.
Choice beef cutout prices (600-900 lb.) for the week averaged US$261.02 per cwt, a price increase of US$3.68 per cwt or 1.43 per cent from US$257.34 per cwt the week of March 18th.
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