Cattle prices up-and-down again according to Canfax Cattle Market Update

Feeder steer and heifer prices in Saskatchewan were mixed, according to the Canfax Cattle Market Update for the week ending November 24.

Provincial Cattle Specialist with the Saskatchewan Ministry of Agriculture Fonda Froats says steer prices were up in 4 categories (500-600, 600-700, 700-800, 800-900lb) and heifer prices were also up in 4 categories (300-400, 400-500, 500-600, 600-700lb).

Saskatchewan feeder steer and heifer prices for the week of November 24 (Chart courtesy of Canfax)

She says the volatility of the futures market continues to be a factor. “There has been additional pressure from weather; the large volume of cattle moving; but the market is feeling the effects of limited pen space and those forward sold cattle that are also entering into the feed lot.” Froats said.

Canfax noted the feeder cattle and live cattle futures were down Friday. “The January feeder cattle futures fell a considerable US$9.175 per cwt over the week to settle Friday at US$219.325 per cwt. The March 2024 contract also decreased similarly by US$8.250 per cwt, week-over-week, to settle Friday at US$222.725 per cwt.

The December live cattle futures contract price decreased US$5.500 per cwt over the week to settle Friday at US$170.250 per cwt. The February 2024 contract for live cattle decreased similarly by US$5.825 per cwt from the previous week and settled Friday at US$170.975 per cwt.” Canfax wrote. 

The number of cattle sold at auction in Saskatchewan declined again last week — from 38,009 head sold the previous week to 27,940.

Regarding prices for Alberta cows, they were down last week, compared to the week of November 17. Canfax reported “D2 cows decreased on average $5.82 per cwt from the previous week to average $122.28 per cwt. D3 slaughter cows were down $4.63 per cwt from the prior week, ending the week at an average price of $110.83 per cwt. Alberta fed steers averaged $228.19 per cwt for the week ending November 24. “

More from