Sask. beef market mixed this week
Saskatchewan Agriculture
This week’s cattle market update as reported on April 28: Highlights include: · Saskatchewan feeder steer prices were mixed for the week.
Price comparisons week to week for the 400-800 pound weight categories increased, while steers over 800 pounds experienced declines of up to $5.50 per cwt. Saskatchewan feeder steer prices experienced changes ranging from a decrease of $5.50 per cwt to an increase of $5.94 per cwt over the week. The largest price decrease was for the 900+ lb. feeder steer weight category; while the largest increases were in the 400-500lb. weight category. On average, Saskatchewan feeder steer prices increased by $0.20 per cwt over the week. ·Saskatchewan feeder heifer prices experienced an average increase of $1.06 per cwt for the week, with the 400-600, and 800-900 pound categories registering increases in value. Prices ranged from an increase of $4.50 per cwt for 400-500 pound heifers to a price decrease of $2.00 per cwt for 700-800 pound heifers compared to the previous week. ·The impact of COVID-19 on packing plant operations continues to be an ongoing, significant, contributing factor to volatility in the markets. Feeder cattle futures movements were mixed this week. On Friday, the nearby April contract settled up $0.275 per cwt over last week at US$119.80 per cwt. The May contract decreased by $1.825 per cwt for the week to settle at US$117.45 per cwt.
·Live cattle futures prices, traded lower compared with last week. The April contract decreased US$9.675 per cwt to settle Friday at US$84.975 per cwt. The June contract decreased $3.67 per cwt compared to the previous week to settle at US$82.63 per cwt.
·Choice beef cutout prices (600-900 lb.) for the week averaged US$272.33 per cwt over the week,up US$40.75 per cwt from US$231.58 per cwt the previous week, an increase of 16.6 per cent from US$233.49 per cwt the same week a year ago.