A total of 47,033 head of cattle were sold in Saskatchewan this week, up substantially from 31,948 head sold the previous week, and up from 44,823 head the same week a year ago, reported Saskatchewan Agriculture for the week ending October 27.
Saskatchewan feeder steer prices were mixed with lighter weights edging higher while heavier weights above 600 lb. moved lower over the week. Saskatchewan feeder steer prices ranged between $3.86 per cwt lower and $1.67 per cwt higher over the week. The light weight 300 to 400 lb. feeder steer weight category had the biggest price gain of $1.34 per cwt. The 900+ lb. feeder steer weight category had the largest decline of $3.86 per cwt. The 500 to 600 lb. feeder steer price increased $0.58 per cwt to average $230.17 per cwt.
Saskatchewan feeder heifer prices were also mixed but primarily lower over the week. Prices over the week ranged between $5.49 per cwt lower and $1.02 per cwt higher. The only price gain reported over the week was in the 700 to 800 lb. weight category. The largest losses were in the 300 to 400 lb. feeder heifer weight category.
The Saskatchewan 750 lb. feeder steer basis compared to the October 26, U.S. feeder cattle index at US$155.12 per cwt was calculated at (+$12.84) per cwt ($212.53 - US$155.12/0.7768), a basis weakening of $5.14 per cwt from the basis of (+$17.98) per cwt from the previous week.
Feeder cattle daily futures prices were mixed over the week with near limit gains on some contracts Tuesday to help push prices higher, week-over-week. The October feeder cattle futures contract increased US$1.495 per cwt to expire Friday at US$155.120 per cwt. The November contract increased US$3.400 per cwt to settle Friday at US$156.475 per cwt. The January 2018 feeder cattle futures contract increased US$4.625 per cwt to settle Friday at US$155.950 per cwt.
Live daily cattle futures prices were mixed but primarily higher over the week with strong gains Tuesday to help push prices higher, week-over-week. The nearby October contract increased US$3.700 per cwt to settle Friday at US$115.375 per cwt. The December contract increased US$4.225 per cwt to settle Friday at US$120.825 per cwt.
Prices for liveweight, non-fed cattle in Alberta were lower over the week. The price of D1 and D2 slaughter cows declined $0.80 per cwt to average $89.08 per cwt. The price of D3 slaughter cows declined $0.33 per cwt to average $79.17 per cwt. Fed cattle prices for Alberta fed steers averaged $140.77 per cwt over the week, an increase of $3.08 per cwt from $137.69 per cwt the previous week.
The live (FOB feedlot) weighted average 5-area (Texas/Oklahoma/New Mexico, Kansas, Nebraska, Colorado and Iowa/Minnesota) weekly fed steer price in the U.S. was reported at US$116.98 per cwt, up US$6.11 per cwt, or 5.5 per cent from US$110.87 per cwt the previous week, up 12.3 per cent from US$104.15 per cwt the same week a year ago. The dressed (delivered basis) price for U.S. steers delivered to plants in the 5-area was reported at US$181.54 per cwt, up US$6.62 per cwt or 3.8 per cent from US$174.92 per cwt the previous week, and up 11.0 per cent from US$163.62 per cwt the same week a year ago.
Beef production for the week was estimated at 508.4 million lbs., down 2.0 per cent from 519.0 million lbs. the previous week, and down 1.5 per cent from 516.1 million lbs. the same week a year ago. Cattle slaughtered over the week were estimated at 617,000 head, down 1.9 per cent from 629,000 head the previous week, but up 0.4 per cent from 614,000 head the same week a year ago.
U.S. choice beef cutout prices (600 to 900 lbs.) averaged US$201.05 per cwt over the week, up US$2.42 per cwt, or 1.2 per cent from US$198.63 per cwt the previous week, and up 10.5 per cent from US$182.00 per cwt the same week a year ago.
USDA released the latest U.S. cold storage numbers on October 23. The U.S. beef stocks in cold storage totaled 487.8 million lbs. on September 30, 2017, up 2.4 per cent from 476.6 million lbs. on August 31, 2017, but down 6.0 per cent from 519.2 million lbs. on Sept. 30, 2016. Beef stocks in cold storage for September 30, 2017 were above the monthly 12-year average, but below the monthly 12-year highs.
Total pork, beef, chicken and turkey in cold storage on September 30, 2017 was at 2.496 billion lbs., up 2.5 per cent from August 31, 2017, and up 2.2 per cent from September 30, 2016. U.S. meat in cold storage for September 30, 2017 was above the 12-year average, and above the previous 12-year record highs of 2.442 billion lbs. established in September 2016. The increased meat in U.S. cold storage for September was a combination of increases for pork, beef, and chicken.
