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 market under pressure
Western Canadian fed cattle prices hit the lowest point since mid-August during the week ending Oct. 3, dropping $10 per hundredweight over the course of three weeks.
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Alberta fed steer prices were down by $5.30 per cwt. to close the week at $307.45 per cwt. Fed heifers averaged $302.71 per cwt., easing $8.30 per cwt. lower.
Limited competition was reported on the cash market.
The week saw light trade, with dressed sales reported in the range of $507-516 per cwt. delivered. Cattle were scheduled for delivery throughout November, with the majority booked for the second half of the month.
Supportive interest from U.S. packers was noted, with light volumes of cattle heading south of the line.
The Alberta fed cash-to-futures basis was -13.48, which was in line with the three-year average.
Western Canadian slaughter volumes are up, but they are still below 2024 levels.
Canadian slaughter cattle exports to the United States are also down from last year’s volumes.
Dressed sales in Ontario were reported in the range of $538-541 per cwt. delivered. Cattle that traded were booked for immediate delivery.
Once again, one major packer was not bidding on cattle.
Cow prices continue to rise
Alberta cull cow prices kept rising during the week ending Oct. 3, making this the fifth consecutive week of prices moving higher in spite of seasonal trends.
D2 and D3 cows sold through commercial auction facilities strengthened by $3-$6 per cwt. from the previous week. Prices were $44-$50 per cwt. stronger than this time last year.
Feeder cows brought $9 per cwt. more than the previous week, and railgrade cows were up by about $6 per cwt.
Butcher bull prices, which have been around $240 per cwt. since the middle of April, were down by $4 per cwt.
Western Canadian non-fed slaughter volumes for the third quarter were 10 per cent below 2024 levels.
Alberta D2 cows averaged $224 per cwt. for the month of September, which was up $40 per cwt. from September 2024.
After about six weeks of easing lower, Ontario D2 and D3 cow prices were up by $1-$3 per cwt. This was also $42-$46 per cwt. stronger than this time last year.
Eastern Canadian non-fed slaughter volumes for the third quarter were 21 per cent above last year’s levels.
Ontario D2 cow prices for the month of September were up $51 per cwt. from September 2024.
Feeder market takes a breather
The feeder market saw some pressure during the week ending Oct. 3, ending the strong rally of the previous few weeks.
However, prices were still near record-high levels.
Steers softened $1.93 per cwt. from the previous week, and heifers were $5.66 per cwt. lower.
The biggest decline was in prices for 550-pound steers and 450-lb. heifers, which dropped by $15.55 per cwt. and $27.48 per cwt., respectively.
Overall, fall run volumes continued to be smaller than anticipated.
Prices for 550-lb. steers rallied by 11 per cent, or $68.22 per cwt., from August to September. Similarly, 550-lb. heifer prices rallied by $73.55 per cwt., or 14 per cent.
During this same period, prices for 850-lb. steers and heifers rallied $36.37 per cwt. (eight per cent) and $31.63 per cwt. (seven per cent), respectively.
Canadian feeder cattle exports to the United States for the week ending Sept. 20 were 1,974 head, 17 per cent below 2024 levels.
Year-to-date exports are at 110,962 head, remaining steady with last year.
Compared to 2024, western Canadian feeder exports are up by five per cent, while eastern Canadian feeder exports are down by 11 per cent.
Cutouts decline
U.S. cut-out prices continued to soften during the week ending Oct. 3, with Choice down by almost $9 per cwt. from the previous week. However, this was $63 per cwt. stronger than this time last year.
Select was down by $10 per cwt., but this was $59 per cwt. above 2024 prices.
Cut-out prices have declined about 12 to 13 per cent from their late-summer peak, making this the second-largest decline since 2018.
The Choice-to-Select spread was just below $20 per cwt., which was $4 per cwt. wider than last year.
