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Cattle Market Update Week of March 24 – March 28, 2008This information is provided as a resource by Saskatchewan Agriculture staff. Feeder Cattle
Feeder cattle trading volumes were lighter last week as a result of the Easter holiday. Saskatchewan auction marts' volume of cattle was 12,613 head, down 4,500 head from the previous week's 17,197 head. Saskatchewan feeder cattle prices were mixed in both the steer and heifer markets. Light weight steers (300-400 lb.) traded higher this week, up $1 per cwt. Steers 400-500 lb. were unchanged. Steers 500-600 lb. were down sharply this week, trading $2 per cwt lower. Six hundred to 800 lb. steers were up $2 per cwt, while steers 800-900 lb. were unchanged for the week. Heavy steers (900+ lb.) traded par with last week. Light weight heifers (300-400 lb.) were up $1 per cwt. Heifers 400-500 lb. traded higher, up $2 per cwt. Five hundred - 600 lb. heifers were up $1 per cwt. while heifers 600-700 lb. were unchanged. Heifers 700-800 lb. heifers were traded $1 per cwt. higher. Heavy heifers (800+) reported a price increase of $2 per cwt. making up last weeks losses. Cash barley prices were relatively unchanged this week, with the average cash price of feed barley for Lethbridge delivery being approximately $220 per tonne, while delivery to the par region (Saskatoon delivery) was approximately $187 per tonne. The Canadian dollar this week had an average of US$0.9825, down from US$0.9949. Canfax projected feeder steer basis for the nearby April contract is -15.20.
Fed Cattle & Slaughter Cows In Western Canada, the fed cattle market was positive as the Alberta fed cattle prices increased $1.50 per cwt. for the second consecutive week in the steers, while heifers experienced gains of $2 per cwt. Saskatchewan fed cattle prices were reported higher this week with steers up $2.25 per cwt. and heifers increasing $2.50. The sales volumes of fed cattle were approximately 15,000. According to the USDA, there were 16,655 fed cattle exported to the United States, marginally down from last week's exports of 17,089 head. D1,2 cows recorded an average price for slaughter cows of $42.10 per cwt., unchanged from $41.91 per cwt. the week previous. The Saskatchewan/Nebraska cash basis for fed cattle was improved to $-4.99 from $-8.30 per cwt. The USDA announced the planting intentions for the 2008 crop year. Soybean and wheat acres are expected to increase over last year, while corn acres are down sharply. Soybean expectations were 74.79 million acres, up significantly from 63.6 million acres last year. Wheat acres are expected to 63.80 million acres from 60.43 million acres the year previous, while corn expectations are 86.01 million acres down significantly from 93.6 million acres last year. Corn acres are down sharply from last year's record planting acres primarily due to the high input cost. The announcement is expected to cause swings in the market with the bulls pushing corn prices limit up and bears pushing soybean limit down on Monday trading.
For more information contact the Livestock Development Branch:
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