Declines again in Sk. cattle market prices
This week’s Saskatchewan Cattle Market highlights include:
·Saskatchewan feeder steer prices declined over the week with price comparisons from all the weight categories from the previous week. Saskatchewan feeder steer prices declined between $0.87 per cwt and $5.17 per cwt over the week.
The biggest price declines were in the 300-400 lb. feeder steer weight category; while the smallest declines in the 500600 lb. weight category.
On average, Saskatchewan feeder steer prices declined by $2.89 per cwt over the week.
·Saskatchewan feeder heifer prices were primarily lower over the week.
Prices ranged from a price decline of $6.95 per ckg; to a price gain of $3.40 per cwt; compared to the previous week.
The largest reported price decline was in the 300-400 lb. feeder heifer weight category; while the only price gain was in the 800+ lb. feeder heifer weight category.
·Feeder cattle daily futures declined significantly over the week with many limit down days as the covid-19 scare has pushed most markets lower over the week. The nearby March contract declined $17.70 per cwt (-13.5%) to settle Friday at US$113.00 per cwt. The May contract declined $16.675 per cwt (-12.7%) to settle Friday at US$114.475 per cwt.
·Live daily cattle futures prices were also significantly lower over the week with prices down limit late in the week with nearby prices ending significantly lower; week-over-week.
Both June and April contracts experienced significant price declines with the April contract declining US$10.175 per cwt (-9.6%) to settle Friday at US$95.575 per cwt. The June contract declined $13.160 per cwt
(-12.8%) compared to the previous week to settle at US$89.750.
·Choice beef cutout prices (600-900 lb.) for the week averaged US$207.15 per cwt over the week, up US$0.21 per cwt from US$206.94 per cwt the previous week, but down 9.0 per cent from US$227.70 per cwt the same week a year ago.