A total of 55,086 head of cattle were sold in Saskatchewan the week ending November 3, up from 47,033 head sold the previous week, reported Saskatchewan Agriculture. This is also an increase from 45,153 head sold the same week a year ago.
Saskatchewan feeder steer prices were higher in all weight categories over the week. Saskatchewan feeder steer prices increased between $0.47 per cwt and $2.94 per cwt higher over the week; with the biggest price gains in the 500 to 600 lb. feeder steer weight category. The 500 to 600 lb. feeder steer price increased $2.94 per cwt to average $233.11 per cwt.
Saskatchewan feeder heifer prices were mixed but primarily higher over the week. Prices over the week ranged between $2.20 per cwt lower and $6.42 per cwt higher. Prices were higher in all weight categories above 500 lbs. with the biggest price gain in the weight category over 800 lbs. The largest price decline was in the light weight 300 to 400 lb. weight category.
The Saskatchewan 750 lb. feeder steer basis compared to the November 2, U.S. feeder cattle index at US$159.23 per cwt was calculated at (+$9.77) per cwt ($213.00 - US$159.23/0.7835), a basis weakening of $3.07 per cwt from the basis of (+$12.84) per cwt from the previous week.
Feeder cattle daily futures prices were primarily higher over the week except for losses on Thursday, but they ended the week with strong gains on Friday to help push prices higher, week-over-week. The November feeder cattle contract increased US$4.400 per cwt to settle Friday at US$160.875 per cwt, while the January 2018 feeder cattle futures contract increased US$5.575 per cwt to settle Friday at US$161.525 per cwt.
Live daily cattle futures prices were also primarily higher over the week except for losses Thursday followed by strong gains on Friday to help push prices higher, week-over-week. The nearby December contract increased US$6.475 per cwt to settle Friday at US$127.300 per cwt, while the February contract increased US$6.000 per cwt to settle Friday at US$131.750 per cwt.
Prices for liveweight, non-fed cattle in Alberta were lower over the week. The price of D1 and D2 slaughter cows declined $1.44 per cwt to average $87.64 per cwt. The price of D3 slaughter cows declined $0.84 per cwt to average $78.33 per cwt. Fed cattle prices for Alberta fed steers averaged $148.15 per cwt over the week, an increase of $7.38 per cwt from $140.77 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$123.53 per cwt, up US$6.55 per cwt or 5.6 per cent from US$116.98 per cwt the previous week. This is an increase of 18.4 per cent from US$104.31 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$191.99 per cwt, up US$10.54 per cwt or 5.8 per cent from US$181.54 per cwt the previous week, and up 18.3 per cent from US$162.24 per cwt the same week a year ago.
Beef production for the week was estimated at 528.5 million lbs., up 4.0 per cent from 508.4 million lbs. the previous week, and up 3.4 per cent from 511.2 million lbs. the same week a year ago. Cattle slaughtered over the week were estimated at 642,000 head, up 4.1 per cent from 617,000 head the previous week, and up 5.0 per cent from 611,000 head the same week a year ago.
U.S. choice beef cutout prices (600 to 900 lbs.) averaged US$206.83 per cwt over the week, up US$5.78 per cwt or 2.9 per cent from US$201.05 per cwt the previous week. This is also up 10.6 per cent from US$187.03 per cwt the same week a year ago.
U.S. beef exports for September 2017 declined from the high August export numbers but continue to be strong relative to the past year. The U.S. exported 80,495 t of beef in September 2017, down 7.5 per cent from 87,057 t in August 2017. This is an increase of 13.1 per cent from 71,189 t in September 2016. U.S. beef exports by volume for September 2017 versus 2016 were higher to Japan (+35%), Mexico (+8%), Korea (+6%), and Canada. Year-to-date, U.S. beef exports by volume have increased 14.5 per cent with the biggest volume increases to Japan, South Korea, Mexico and Hong Kong.
By dollar amount, U.S. beef exports in September 2017 were US$547.8 million, down 8.9 per cent from US$601.7 million in August 2017, but up 21.1 per cent from US$452.2 million in September 2016. Year-to-date, U.S. beef exports by dollar amount for the nine months ending September 2017 totaled $4.615 billion, an increase of 18.7 per cent over the same period in 2016.
