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Cattle Market Update Week of Sept. 15 – Sept. 19, 2008This information is provided as a resource by Saskatchewan Agriculture staff.
Feeder Cattle
The volume of feeder cattle through Saskatchewan auction marts was down 24 per-cent lower this week, with sales numbers reported at 13,085 head, decreasing from last week's volume of 17,250 head. The export volume to the U.S continued to push higher again this week as feeder cattle export to the U.S. was reported at 19,077 head, an increase from 15,914 head the previous week. Feeder cattle prices in Saskatchewan were pushed lower again this week in both steer and heifer markets. The lower feeder cattle markets are a result of futures prices being pushed lower due to uncertainty in the U.S. markets. Steers (300-400 lb.) finished the week $5 per cwt. lower. Steers 400-500 lb. closed $1 per cwt. lower. Steers 500-700 lb. finished down $3 per cwt. Steers 700-900+ lb. ended down $1 per cwt. for the second straight week. Light-weight heifers (300-400 lb.) finished the week steady with last week. Heifers 400-500 lb. traded $2 per cwt. lower, while 500-600 lb. heifers ended $1 per cwt. lower. Heifers 600-700 lb. closed lower, down $3 per cwt. Heifers 700-800+ lb. closed trading $2 per cwt. lower. The Canfax projected Alberta 750 lb. feeder steer basis is -11.78, while the 850 lb. basis is -14.31. Last week, the loonie experienced a great deal of volatility as a result of uncertainty in the markets, ranging between a low of 0.9274 and a high of .09551. The Canadian dollar closed marginally higher this week, relative to the U.S. dollar. The dollar (noon) traded on average at US$0.9370, up from the previous week's average of US$0.9343.
Fed Cattle and Slaughter Cows Western Canadian fed-cattle prices were able to hold steady this week, despite the volatile markets. Alberta-fed steers were unchanged for the week, while heifers were $0.68 per cwt. higher. Saskatchewan-fed steers closed the week flat with the previous week. Sales volumes for the week were reported at just over 19,000 head. Canadian exports of fed cattle to the U.S. were sharply higher, increasing 15 per-cents to 15,889 head, compared to last week's volume of 12,803 head. D1,2 cows experienced higher prices again this week, reporting an average price of $49.32 per cwt., compared to $45.51 per cwt. the week previous. The Saskatchewan/Nebraska cash basis for fed cattle improved this week to $-12.18 from $-13.65 per cwt. For more information, contact the Livestock Development Branch: |
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