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Cattle Market Update Week of March 31 – April 4, 2008This information is provided as a resource by Saskatchewan Agriculture staff. Feeder Cattle
The feeder cattle trade rebounded last week, with sharply higher volumes being traded across Western Canada. Saskatchewan auction marts' volume of cattle was 21,208 head, up approximately 40 per cent from the previous week's 12,613 head. Saskatchewan feeder cattle prices were mixed in both the steer and heifer markets. Light weight steers (300-400 lb.) traded sharply lower this week, down $4 per cwt. Steers 400-500 lb. were unchanged for the second straight week. Steers 500-600 lb. were up slightly this week, trading $2 per cwt. higher. Six hundred to 900 lb. steers were unchanged for the week. Heavy steers (900+ lb.) traded on par with last two weeks. Light weight heifers (300-400 lb.) were up by $4 per cwt. Heifers 400-800 lb. traded higher, up $1 per cwt. Heavy heifers (800+ lb.) reported no change in price. Cash barley prices were relatively unchanged this week, with the average cash price of feed barley for Lethbridge delivery being approximately $224 per tonne, while delivery to the par region (Saskatoon delivery) was approximately $191 per tonne. The Canadian dollar this week traded at an average of US$0.9824, essentially unchanged from last week's US$0.9825. The dollar traded from a low of $0.9729 to a high of 0.9919, revealing volatility in the currency market. The Canfax projected Alberta feeder steer basis (850 lb.) for the nearby April contract is -14.52.
Fed Cattle & Slaughter Cows In Western Canada, the fed cattle market was down. Alberta fed cattle prices dropped $3.50 per cwt. for steers, while heifers experienced losses of $2 per cwt. Saskatchewan also reported lower fed cattle prices this week. Steers were down $2.50 per cwt., taking away last week's gains of $2.25 per cwt. Sales volumes of fed cattle were slightly below 12,000. According to the USDA, 16,155 fed cattle were exported to the United States, roughly on par with last week's exports of 16,655 head. D1,2 cows recorded an average price for slaughter cows of $43.55 per cwt., up $1 per cwt. from $42.10 per cwt. the week previous. The Saskatchewan/Nebraska cash basis for fed cattle weakened to $-5.38 from $-4.99 per cwt.
For more information contact the Livestock Development Branch:
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