A total of 7,764 head of cattle were sold in Saskatchewan the week ending September 29, down from 8,285 head sold the previous week. This figure dropped substantially from 8,520 head sold the same week a year ago.
Saskatchewan feeder steer prices were primarily higher over the week with all weight categories reported. Saskatchewan feeder steer prices ranged between $1.87 per cwt lower and $7.95 per cwt higher over the week. The 600 to 700 lb. feeder steer weight category had the biggest price gain of $7.95 per cwt, while the 400 to 500 lb. weight category had the only loss over the week. On average, feeder steer prices increased by just over $3 per cwt over the week.
Saskatchewan feeder heifer prices were also reported in all the weight categories over the week. Prices were steady-to-higher in all weight categories with prices ranging from $0.10 per cwt lower to $3.37 per cwt higher. The largest price gain reported over the week was in the 600 to 700 lb. weight category.
The Saskatchewan 750 lb. feeder steer basis compared to the September 28, 2017, U.S. feeder cattle index at US$152.96 per cwt was calculated at (+$15.49) per cwt ($206.38 - US$152.96/0.8013), a basis widening (negative) of $1.48 per cwt from the basis of (+$16.97) per cwt from the previous week.
Feeder cattle daily futures prices were mixed over the week with some limited losses Monday helping to push prices lower, week-over-week. The September contract declined US$0.440 per cwt to expire Friday at US$152.960 per cwt. The October feeder cattle contract declined US$3.875 per cwt to settle Friday at US$152.225 per cwt, while the November contract declined US$3.625 per cwt to settle Friday at US$154.00 per cwt.
Live daily cattle futures prices were mixed over the week with some limited losses on Monday to help lead prices lower, week-over-week. The nearby October contract declined US$2.475 per cwt to settle Friday at US$109.100 per cwt, while the December contract declined US$2.175 per cwt to settle Friday at US$115.250 per cwt.
Prices for liveweight, non-fed cattle in Alberta managed to move higher over the week. The price of D1 and D2 slaughter cows increased $1.72 per cwt to average $87.43 per cwt. The price of D3 slaughter cows increased $1.00 per cwt to average $78.00 per cwt. Fed cattle prices for Alberta fed steers averaged $131.63 per cwt over the week, down $2.95 per cwt from $134.58 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$108.01 per cwt, down US$0.49 per cwt or 0.4 per cent from US$108.50 per cwt the previous reporting week, but up 5.2 per cent from US$102.65 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$171.73 per cwt, up US$1.09 per cwt from US$170.64 per cwt the previous week, but up 6.3 per cent from US$161.54 per cwt the same week a year ago.
Beef production for the week was estimated at 535.3 million lbs., up 2.1 per cent from 524.1 million lbs. the previous week, and up 3.6 per cent from 516.9 million lbs. the same week a year ago. Cattle slaughtered over the week were estimated at 648,000 head, up 1.7 per cent from 637,000 head the previous week, and up 5.3 per cent from 615,000 head the same week a year ago.
U.S. choice beef cutout prices (600-900 lbs.) averaged US$195.81 per cwt over the week, up US$3.83 per cwt or 2.0 per cent from US$191.98 per cwt the previous week, and up 3.8 per cent from US$188.63 per cwt the same week a year ago.
