Saskatchewan Cattle Market Update

Saskatchewan's Ministry of Agriculture Cattle Market Update for Monday, April 13:

·Saskatchewan feeder steer prices experienced overall price decreases over the week with price comparisons from all the weight categories from the previous week. Saskatchewan feeder steer prices ranged from a decreased of $5.24 per cwt to a decrease of $10.08 per cwt over the week. The smallest price decrease was for the 700-800 lb. feeder steer weight category; while the largest decreases were in the 600-700 lb. weight category. On average, Saskatchewan feeder steer prices decreased by $8.16 per cwt over the week.

·Saskatchewan feeder heifer prices experienced a single increase but followed similar trends to steers over the week. Prices ranged from a price increase of $0.58 per cwt; to a price decrease of $4.21 per cwt; compared to the previous week. The only reported price increase was in the 500-600 lb. feeder heifer weight category; while the largest price decrease was in the 600-700 lb. feeder heifer weight category.

·Feeder cattle daily futures were mixed over the week with strong increases early in the week. In general, the volatility is coming from the influences of COVID-19 on the markets.  The nearby April contract increased US$11.275 per cwt to settle Friday at US$119.525 per cwt. The May contract increased $10.850 per cwt to settle Friday at US$118.950 per cwt.

·Live daily cattle futures prices followed similar trends to the feeder futures. Both April and June contracts experienced price increases compared to the previous week. The April contract increased US$5.675 per cwt to settle Friday at US$94.00 per cwt. The June contract increased $3.525 per cwt compared to the previous week to settle at US$84.380.

·Choice beef cutout prices (600-900 lb.) for the week averaged US$225.37 per cwt over the week,

down US$13.10 per cwt from US$238.47 per cwt the previous week, and down 1.5 per cent from US$228.72 per cwt the same week a year ago.