(Alice McFarlane/farmnewsNOW Staff)

By Alice McFarlane

Cattle Markets

Cattle markets improve with increased demand

Apr 1, 2020 | 5:00 PM

There has been an improvement in the cattle markets after a very difficult March.

Provincial cattle specialist Leah Clark said it’s over concerns about COVID-19 and the food supply chain.

“We are seeing strong retail demand. The futures markets, we’ve had limit up and limit down moves, but we’re seeing some positive indicators pushing those prices up,” she said. “Those positive indicators are just the fact the world needs food. The world needs food and locally we need food.”

Clark said feeder steer prices have jumped an average of $14 per hundredweight (cwt).

“Saskatchewan feeder steer prices increased between $8.37 per cwt to $17.13 per cwt over the week. The biggest price increase was for the 700 to 800-pound feeder steers while the smallest price increase was in the 900-pound plus feeder steer category,” she said

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Clark said feeder heifers followed a similar trend with prices ranging from an increase of $2.65 per cwt to $12.57 per cwt. The largest reported price increase was in 700 to 800-pound heifers. The smallest price increase was in 300 to 400-pound category.

Total cattle sale numbers were lower. Clark said producers aren’t rushing to sell.

“Canfax reported a total of 5,425 head of cattle sold in Saskatchewan over the week. This is down from 7,688 head the previous week. It’s down from 15,167 head the same week a year ago indicating people are holding on to animals during this time of market volatility.”

Clark said there was also an increase in market-ready cattle prices.

“Prices for live weight non-fed cattle in Alberta increased compared to the previous week. The price of D2 slaughter cows increase $7.72 per cwt while D3 slaughter cows also experienced a price increase of $5.35 per cwt.”

Clark said the markets are unpredictable but the demand for beef continues.

“Just lots of volatility and uncertainty out there,” she said. “But we do have some positive notes out there. People need to eat and they’re demanding beef. Choice beef cut out was up $50 per cwt compared to two weeks ago. That’s just from the surge in local demand.” she said.

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alice.mcfarlane@jpbg.ca

On Twitter: @AliceMcF