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Cattle Market Update Week of June 9 – June 13, 2008This information is provided as a resource by Saskatchewan Agriculture staff. Feeder Cattle
The volume of feeder cattle in Saskatchewan auction rings this week was 12,831 head, 31 per cent higher than last week's volume of 9,760. Saskatchewan feeder cattle prices were mixed in both the steer and heifer markets. Steers 300-400 lb. traded sharply higher, up $4 per cwt. Steers 400-500 lb. were down $1 per cwt., while 500-600 b. steers were down $2 per cwt. Steers 600-700 lb. and 700-800 lb. gave back most of last week's gains, down $3 per cwt. and $4 per cwt., respectively. Steers 800-900 were $1 per cwt. lower. Heavy steers (900+) were $1 per cwt. higher for the second consecutive week. Light weight heifers (300-400 lb.) experienced a $4 per cwt. gain for the second straight week. Heifers 400-500 lb. traded flat, while heifers 500-600 lb. were down $1 per cwt. Heifers 600-800 lb. increased $2 per cwt. Heavy heifers (800+) finished the week $1 per cwt. higher. The Canadian loonie (noon) traded slightly lower last week relative to the American greenback. The dollar traded at an average of US $0.9774 this week, down from last week's average of US$0.9883. The Canfax projected Alberta 750 lb. feeder steer basis is -9.61, while the 850 lb. basis was -16.09.
Fed Cattle and Slaughter Cows Fed cattle prices were lower last week in Western Canada. According to Canfax, the lower prices are a function of weaker demand. Alberta fed cattle prices were $1.00 per cwt. lower for steers, while heifers were down $1.17 per cwt. Saskatchewan fed steers were down $0.35 per cwt. this week. Sales volume of fed cattle was just above 22,000 head according to Canfax, down three per cent from just below 23,000 last week. The USDA reported exports of fed cattle to the U.S. at 10,066 head, increasing approximately six per cent from 7,353 head. D1,2 cows were lower this week, recording an average price of $44.37 per cwt. compared to $45.14 per cwt. the week previous. The Saskatchewan/Nebraska cash basis for fed cattle held relatively steady this week at $-8.51 from $-8.64 per cwt. Cattle on Feed Report The Canadian Cattle on Feed Report was released on Friday, revealing that placements, marketings and cattle on feed numbers were all down from a year ago. June 1 cattle on feed numbers were 853,860, down from 920,230 on May 1 and 92 per cent of last year's numbers. May placements were 144,890, while May marketings were 163,040. For more information, contact the Livestock Development Branch: |
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