Cattle prices starting to lose momentum: Canfax Market Update

The latest cattle market update from Canfax, for the week ending October 6, indicates prices are starting to lose steam.

Saskatchewan feeder steer prices were down in all but one weight category – the 400-500 lb category with a 56 cent increase week-over-week to an average price of $455.19 per hundred weight (cwt). The largest decrease was in the 600-700 lb category of $8.13. Prices ranged from $512.06 per cwt in the 300-400 lb category to $311.75 in the 900+ lb category.

Feeder heifer prices were down across all weight classes, with the largest decline in the 400-500 lb category of $11.25 per cwt. Prices ranged from $427.14 per cwt in the 300-400 lb category to $294.14 in the 800+ lb category.

Provincial Cattle Specialist with the Saskatchewan Ministry of Agriculture Fonda Froats says the market tends to soften in October as larger volumes of cattle enter the market, and this year is no exception.

The volume of feeder cattle sold at auction in Saskatchewan rose once again to 23,704 head, compared to 15,016 the previous week, and above the 19,302 head of cattle marketed the same time last year.

The price for Alberta fed steers averaged $233.30 per cwt which is 50 cents above the previous week.

Prices of Alberta cows reported this past week were down compared to the previous week. The price of D2 and D3 slaughter cows both decreased 39 cents from the previous week to average $130.61 per cwt and $118.22 per cwt respectively.

Below is a chart of Saskatchewan feeder steer and heifer prices for the week ending October 6, from Canfax.

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