This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattlemen’s Association. More market information, analysis and statistics are available by becoming a Canfax subscriber by calling 403-275-5110 or at www.canfax.ca.
Fed prices still rising
The Alberta fed market saw higher prices yet again the week ending May 23, with prices just below $300 per hundredweight.
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Alberta fed steers rose by $1.70 per cwt. to close the week at $299.55 per cwt. Fed heifers ended the week at $295.99 per cwt., rising by just shy of $1 per cwt. from the previous week.
Dressed sales were reported in the range of $498 to $501.50 per cwt. delivered, remaining steady with the previous week. Cattle that traded were scheduled for delivery immediately and into the first half of July.
Some cattle traded south of the border, bringing a slight premium to local deals.
Canfax reported that most of the cattle marketed that week were fed calves.
For the week ending May 17, western Canadian fed slaughter was 36,400 head, four per cent below the same week last year.
Year-to-date fed slaughter is down 10 per cent from 2024 and eight per cent below the five-year average.
Dressed sales in Ontario were reported at $500 per cwt. delivered, steady to $5 per cwt. stronger than the previous week . Delivery was scheduled for the first week of June.
For the week ending May 17, eastern Canadian fed slaughter was 9,700 head, five per cent below the same week last year.
Year-to-date eastern Canadian fed slaughter is down four per cent from 2024 and 11 per cent below the five-year average.
Butcher cow market hot
The butcher cow market brought record-high prices during the week ending May 23, continuing an impressive trend. Prices have averaged around $230 per cwt. over the past few weeks.
Good buying interest from western Canadian packers and feeder cow buyers has been reported.
Cow prices year over year are $42 per cwt. higher, and year-over-year butcher bull prices are up $34 per cwt.
In light of tighter non-fed supplies, western Canadian packers have reduced hours for processing D grade cattle.
Cow slaughter volumes are expected to trend lower until July. However, one more rush of cows could hit the market as producers prepare to turn their herds out to pasture for summer.
Historically, cow prices reach first-half-of-year highs in early June.
A few bred cows have been through auction markets, but most are finding homes rather than entering the slaughter mix.
Volatile calf, feeder market
Though prices were volatile for the calf and feeder market during the week ending May 23, the general trend has been stronger. This is especially the case for load lot groups of cattle.
Prices for 850-pound steers have mostly held steady over the past few weeks. This weight class has never established annual highs in May over the past 25 years.
Traditionally, heavier-weight feeders strengthen over the next couple of months. Canfax reports that this is already being priced into the market to a certain extent.
Forward delivery sales for delivery in August to October traded at a premium compared to the spot market.
The forward delivery calf market has been lightly tested over the last couple of weeks, with prices at record-high levels.
British Columbia, Alberta and Saskatchewan 600-699 lb. steers for October-November delivery traded from $498-580 per cwt. with a weighted average price of $529.24 per cwt. based on 640 lb.
Feedlot demand in Eastern Canada has been strong on some forward delivery steer calves.
While Canadian feeder cattle exports usually peak in April, this wasn’t the case this year. Canadian feeder exports for the past five weeks totalled 3,834 head, the smallest volume in 19 years.
Cutouts keep climbing
U.S. cut-out prices continue to strengthen, with Choice closing the week at US$390.97 per cwt., up $11 per cwt. from the previous week. Select prices were up $9 per cwt. to end the week at $339.18 per cwt.
Choice prices have climbed $29 per cwt. since the lows of mid-April, while Select has strengthened by $33 per cwt.
Compared to this time last year, Choice is now $51 per cwt. stronger, and Select is $49 per cwt. stronger.
The Choice-to-Select spread was $12 per cwt., steady with last-year levels but $7 per cwt. narrower than the five-year average.
