Cattle Report – Nov 20

Cattle Market Update

For the Week Ending November 20, 2015

Canfax reported that a total of 37,750 head of cattle were sold in Saskatchewan this week, down from 42,142 head marketed the previous week. Prices were lower on general market weakness with lower feeder cattle demand in Western Canada. Canadian feeder cattle exports to the U.S. over the last eight weeks ending November 7, 2015 were down almost 75 per cent from 2014 and down almost 54 per cent from 2013; compared to the same eight week periods.

Saskatchewan feeder steer prices were lower over the week in all weight categories. Prices declined between $4.04 per cwt and $14.25 per cwt, from the previous week. The 800-900 lb. feeder steer weight category had the largest loss declining $14.25 per cwt. Feeder steer prices overall averaged almost $10 per cwt lower in the different weight categories.

Saskatchewan feeder heifer prices over the week were also lower in all weight categories. Feeder heifer prices over the week declined between $7.84 per cwt and $15.08 per cwt. The 700-800 lb. feeder heifer weight category had the largest loss declining $15.08 per cwt, with overall feeder heifer prices declining by over $11 per cwt on average over the week.

The Saskatchewan 750 lb. feeder steer basis compared to the November 19, 2015, U.S. feeder cattle index at US$174.39 per cwt was calculated at $2.82 per cwt (US$174.39/0.7493-$229.92), a basis widening (negative) of $2.00 per cwt from the basis of $0.82 per cwt the previous week.