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Cattle Market Update Week of June 2 – June 6, 2008This information is provided as a resource by Saskatchewan Agriculture staff. All stated prices are averages. Please use this information at your own risk. All prices are quoted in Canadian dollars per hundredweight ($/cwt.) unless otherwise stated. Feeder Cattle
The volume of feeder cattle going through the auction ring was down last week across Western Canada. Saskatchewan saw gains as volumes increased approximately nine per cent this week, with auctions reporting 9,760 head sold, up from 8,906 head the week previous. Feeder cattle prices in the province were generally higher in both steer and heifer markets. Steers 300-400 lb. were down $1 per cwt. Steers 400-500 lb. were up $1 per cwt., while 500-600 b. steers were up two per cwt. Steers 600-700 were $4 per cwt. higher. Steers 700-800 cwt. saw a price gain of $5 per cwt.; steers 800-900 were up $3 per cwt. Heavy steers (900+) were $1 per cwt. higher. Light weight heifers (300-400 lb.) recaptured last week's losses, gaining $4 per cwt. Heifers 400-500 lb. were $1 per cwt. higher, while heifers 500-600 lbs. were up $3 per cwt. Heifers 600-700 lb. increased $2 per cwt. Prices held steady for heifers 700-800 lb. Heavy heifers (800+) were up $3 per cwt. The Canadian dollar (noon) was weaker last week, trading below par with the American greenback. The dollar traded at an average of US$0.9883 this week, down sharply from last week's average of US$1.009. The Canfax projected Alberta feeder steer (750 lb.) basis for the nearby May contract is -14.83, while the 850 basis was $21.67.
Fed Cattle and Slaughter Cows Western Canada fed cattle prices were down last week despite the lower Canadian dollar. Futures and cash markets were both weaker in the U.S. markets, lowering packer bids. Alberta fed cattle prices were $0.90 per cwt. lower for steers, while heifers were down $2.11 per cwt. Saskatchewan fed steers held steady this week. Sales volume of fed cattle was just below 23,000 head according to Canfax, up from last week. The USDA reported exports of fed cattle to the U.S. at 7,353 head, down from 7,849 head. D1,2 cows were steady this week, recording an average price of $45.14 per cwt. compared to $45.10 per cwt. the week previous. The Saskatchewan/Nebraska cash basis for fed cattle weakened this week to $-8.64 from $-5.48 per cwt. For more information, contact the Livestock Development Branch:
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