Saskatchewan Agriculture Attached is the latest cattle Market Update for the week ending April 8.
Feeder steer prices were mixed across the reported weight categories for the week. The largest price increase was seen in the 700-800lb weight category with an increase of $2.23 per cwt to average $201.40 per cwt for the week. The biggest price decline was seen in the 800-900lb weight category with a price decline of $1.92 per cwt to average the week at $186.00.
The average weekly prices for Saskatchewan’s feeder heifer prices were also mixed across the reported weight categories but more price declines were in the lightweight categories versus price gains in the heavier weight categories, from the previous week. The largest price increase reported was seen in the 800+lb. feeder heifer weight category with an increase of $2.75 per cwt to average $168.25 per cwt for the week. The biggest price decline over the week was seen in the 300-400lb weight category with a price decline of $2.55 per cwt to finish the week averaging $203.83 per cwt.
Feeder cattle future contract prices were noticeably lower over the week. The nearby April feeder cattle futures contract settled Friday at $156.55 per cwt; a price decline of $5.025 per cwt from the previous week ending April 1st settlement of US$161.575 per cwt. The May feeder cattle futures contract also had a noticeable price decline of US$6.75 per cwt from the previous week to settle Friday at US$159.375 per cwt.
Live cattle futures prices were mixed throughout the week but ended lower. The April live cattle futures contract declined US$0.825 per cwt relative to the previous week to settle Friday at US$137.825 per cwt. The May contract had a price decline of US$2.025 per cwt compared to the previous week to settle Friday at US$133.825 per cwt.
Choice beef cutout prices (600-900 lb.) for the week averaged US$270.50 per cwt, a price increase of US$4.31 per cwt from US$266.19 per cwt the previous week. The Choice beef cutout was 1.8 per cent higher than the same week a year ago when it was valued at $266.08 per cwt.