For the week ending Aug. 2, western Canadian feeder cattle markets traded steady to as much as $10 higher.
Quality yearling packages off grass were up as much as $15 in some cases. Prices for similar weight cattle were quite variable across the Prairies, which made the market hard to define.
The market appears to be in price discovery mode for the grass yearling market.
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Alberta packers were buying fed cattle on a dressed basis at $505 per hundredweight, steady to $5 higher than last week. Using a 60 per cent grading, this equates to a live price of $303 per cwt.
Packer bids f.o.b. feedlot in southern Alberta were reported from $297 to $299 per cwt.
Breakeven pen-closeouts for August are in the range of $275-$285 per cwt. Strong feedlot margins continue to underpin the feeder complex.
In southern Manitoba, the DLMS market report had a pen-sized group of medium to larger frame, Angus blended steers, weighing 1,025 pounds, off grass diet selling for $407 per cwt. f.o.b. ranch.
Another feature on the report included a pen-sized package of mixed steers off grass carrying medium to lower flesh levels with a mean weight of 935 lb. selling for $457 per cwt. f.o.b. ranch near Fairholm, Sask.
In southern Alberta, the Perlich Bros Market Report had a pen-sized group of 930 lb. large-frame, Angus-based heifers with a touch of exotic features carrying light to medium flesh, coming straight off pasture trading for $419 per cwt. f.o.b. ranch.
The Ponoka Market Report said that a handful of mixed steers, carrying lighter butter, coming straight off pasture averaging 840 lb. with full processing records moving at $465 per cwt. through the ring.
In southern Alberta, a smaller package of Charolais cross steers off pasture weighing slightly more than 800 lb. carrying lighter flesh reportedly traded for $501 per cwt.
The Perlich Bros Auction Market Report had Angus-based, young, smaller frame heifers weighing 781 lb. off grass selling for $464 per cwt.
Calf volumes were limited last week.
In southern Alberta, larger frame, Simmental cross steer calves weighing 710 lb. reportedly sold for $551 per cwt.
The Westlock Market Report had a nine-pack of red Angus 557 lb. steers off grass, naturally raised, selling for $565 per cwt.
The DLMS summary had a couple packages of higher quality steer calves averaging 500 lb. trading for $660 per cwt. f.o.b. ranch at various locations in Saskatchewan.
U.S. feeder cattle outside finishing feedlots as of July 1, 2025 came in at 34 million head. This compares to the July 1, 2023, number of 34.7 million head. It is a modern day historical low.
The U.S. border remains closed to Mexican feeder cattle due to New World screwworm. Feeder cattle supplies will remain snug over the next year.
Feedlot placements will be lower than anticipated during the latter half of 2025, resulting in a sharper year-over-year decrease in beef production during the first half of 2026.
The market and the overall fundamentals are in uncharted territory, and feedlot operators are anxious to reload after a period of positive margins.
Feedgrain prices continue to trend lower as it appears the Canadian barley and U.S. corn crop will be larger than anticipated.
