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 steady to slightly lower
The western Canadian fed market pulled back slightly during the week ending July 11, but prices are still within $5 per hundredweight of June’s record highs.
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Alberta fed steers eased $0.72 per cwt. lower to close the week at $297.31 per cwt., while fed heifers softened by $0.96 per cwt., closing the week at $294.51 per cwt.
Canfax reported that feedlot margins look to be healthy, considering many of the calves placed last fall have breakevens in the mid-$260s per cwt.
Many producers are reporting that a bigger percentage of their cattle are contracted, and the majority are being delivered at a noteworthy discount to the cash market, leading Canfax analysts to condlue that the cash market doesn’t necessary illustrate the full story regarding feedlot margins.
Dressed sales were reported in the range of $495-$500 per cwt. delivered, and cattle that traded were scheduled for delivery throughout August. All Western Canadian packers showed buying interest.
Western Canadian slaughter rates have increased over the last few weeks, and fed cattle shipments to the United States have also increased. Historically, fed cattle supplies generally increased during the third quarter.
Dressed sales in Ontario were $520 per cwt. delivered, and cattle that traded were scheduled for delivery next week. There are reports in Ontario of fed calves just starting to come forward while yearling numbers decline.
Analysts predict stronger prices in the U.S. should be supportive to the Canadian fed market. However, market volatility is expected to continue due to renewed talk of U.S. tariffs on non-Canada-U.S.-Mexico Agreement compliant goods from Canada.
Western non-fed prices soften
Cull cows and butcher bulls selling through commercial auction markets in Western Canada were $5-$6 per cwt. lower than the previous week. Feeder cows softened by $2.75 per cwt.
Alberta D2 cows averaged $221.57 per cwt., while D3 cows averaged $207.88 per cwt.
Rail grade cows ranged from $420-$430 per cwt., trading steady with the previous week.
Western Canadian cow slaughter for the week ending July 5 was 4,500 head.
Year-to-date cow slaughter in Western Canada is 11 per cent below last year’s volumes, as well as 12 per cent below the five-year average.
In Ontario, cull cows sold through commercial auction marts were $2-$6 per cwt. higher than the previous week.
Both D2 and D3 cows re-established new annual highs and all-time highs, with D2 cows averaging $212.39 per cwt. and D3 cows averaging $173.66 per cwt.
Eastern Canadian cow slaughter for the week ending July 5 was 1,450 head. This was the smallest weekly volume of 2025 so far.
Year-to-date cow slaughter in Eastern Canada is six per cent above last year’s volumes but six per cent below the five-year average.
Feeder run seasonally light
Alberta auction volumes for the week ending July 11 were 11,887 head. This was 60 per cent higher than last year and steady with the five-year average.
Lightweight feeders came under pressure this week due to a seasonally lighter run, and heavyweight feeders traded stronger.
Cow-calf pairs averaged $5,945 per pair, reaching their annual highs.
The nearby feeder cattle contract was $325.32 per cwt., rising $19.30 per cwt. from early July.
Canadian feeder cattle exports to the U.S. for the week ending June 28 were 1,708 head. This was 26 per cent below this time last year.
Year-to-date exports are one per cent below 2024 at 84,534 head.
In June, the 550 pound steer-to-heifer price spread was $33.94 per cwt., narrowing by $21.97 per cwt. from May. This was the smallest price spread for this weight class so far this year.
In the same vein, the 850 lb. steer-to-heifer price spread also narrowed by $10.16 per cwt. in June to $26.70 per cwt.
Cutouts ease lower
U.S. cut-out prices moved lower during the week ending July 11, with Choice prices softening by $5 per cwt. from the previous week . Select prices eased about $7.50 per cwt. lower.
The Choice-to-Select spread was $13.80 per cwt. This has been mainly in the range of $13-16 per cwt. since mid-June.
For the same period in 2024, the Choice-to-Select spread was in the range of $21-25 per cwt.
