A total of 53,665 head of cattle were sold in Saskatchewan for the week ending November 10, down from 55,086 head sold the previous week. This number is up from 37,874 head sold the same week a year ago.
Saskatchewan feeder steer prices were primarily lower in all weight categories over the week except in the heavier weight steers. Saskatchewan feeder steer prices ranged between $6.55 per cwt lower to $3.05 per cwt higher over the week. The biggest price gains were in the 800 to 900 lb. feeder steer weight category, while the largest losses in the 300 to 400 lb. feeder steer weight category. The 500 to 600 lb. feeder steer price declined $4.18 per cwt to average $228.93 per cwt.
Saskatchewan feeder heifer prices were also primarily lower over the week except the over 800 lb. weight category which had a small increase. Prices over the week ranged between $6.39 per cwt lower to $0.25 per cwt higher. The largest price decline was in the 500 to 600 lb. weight category.
The Saskatchewan 750 lb. feeder steer basis compared to the November 9, 2017, U.S. feeder cattle index at US$159.38 per cwt was calculated at (+$8.87) per cwt ($211.36 - US$159.38/0.7885, a basis weakening of $0.90 per cwt from the basis of (+$9.77) per cwt from the previous week. Feeder cattle daily futures prices were mixed but primarily lower over the week with big losses Wednesday to help push prices lower, week-over-week. The November feeder cattle contract declined US$2.400 per cwt to settle Friday at US$158.475 per cwt, while the January 2018 feeder cattle futures contract declined US$4.35 per cwt to settle Friday at US$157.175 per cwt.
Live daily cattle futures prices were lower over the week to push prices noticeably lower, week-over-week. The nearby December contract declined US$6.725 per cwt to settle Friday at US$120.575 per cwt, while the February contract declined US$5.000 per cwt to settle Friday at US$126.750 per cwt.
Prices for liveweight, non-fed cattle in Alberta were mixed over the week. The price of D1 and D2 slaughter cows declined $0.26 per cwt to average $87.38 per cwt, while the price of D3 slaughter cows increased slightly ($0.03 per cwt) to average $78.36 per cwt. Fed cattle prices for Alberta fed steers averaged $149.24 per cwt over the week, an increase of $1.09 per cwt from $148.15 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$123.05 per cwt, down US$0.48 per cwt or 0.4 per cent from US$123.53 per cwt the previous week, but up 18.7 per cent from US$103.70 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$192.06 per cwt, up slightly from US$191.99 per cwt the previous week, and up 18.4 per cent from US$162.15 per cwt the same week a year ago.
Beef production for the week was estimated at 513.9 million lbs., down 2.8 per cent from 528.5 million lbs. the previous week, and down 0.6 per cent from 516.9 million lbs. the same week a year ago. Cattle slaughtered over the week were estimated at 623,000 head, down 3.0 per cent from 642,000 head the previous week, but up 1.6 per cent from 613,000 head the same week a year ago. U.S. choice beef cutout prices (600 to 900 lbs.) averaged US$212.59 per cwt over the week. This figure is up US$5.76 per cwt or 2.8 per cent from US$206.83 per cwt the previous week, and up 14.6 per cent from US$185.47 per cwt the same week a year ago.
