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 levels off
After weeks of record-high prices, the fed market in Western Canada is beginning to level off.
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Alberta fed steers closed the week ending June 13 at $301.14 per hundredweight, a mere $0.03 per hundredweight higher than the previous week. Fed heifers eased $1.69 per cwt., finishing the week at $298.56 per cwt.
Currently, Alberta fed prices are at a discount of $30 per cwt. against the Nebraska fed market. This is one of the weakest basis levels on record for the first half of June.
The western Canadian fed market is at a live discount of $15 per cwt. against the Ontario fed market. Canfax analysts warn that if this price spread widens further, fed cattle from the west could possibly be shipped to Ontario for slaughter.
Light trade occurred during this week, with dressed sales in the range of $502-504 per cwt. delivered. Cattle were scheduled for delivery immediately and into the first half of July.
While interest from U.S. packers was reported, no sales were confirmed.
There have recently been cases where packers were willing to offer a premium of $2 per cwt. dressed if cattle graded higher than 75 per cent AAA. However, with fed calves needing extra days of feed, many feeders are negotiating for longer lift times rather than grading premiums.
In contrast to the western Canadian fed market, prices in Eastern Canada continue to rise.
Dressed sales in Ontario reached $530 per cwt., steady to $10 per cwt. higher than the previous week . Cattle that traded were scheduled for delivery in one to two weeks.
Butcher cow market moves sideways
Over the last month, the Alberta butcher cow market has generally moved sideways.
D2 cow prices were about $1.75 per cwt. lower than the previous week, and D3 cows brought $1 per cwt. more than the previous week.
Feeder cows and butcher bulls traded $3-$8 per cwt. stronger, while railgrade cows were fully steady, in the range of $425-$440 per cwt.
According to the five-year average, annual highs are usually set in the first half of June, which suggests there will be more downside risk than upside from now until November.
In May, Alberta D2 cows were priced at 77 per cent of a fed steer. This is higher than the previous monthly high of 73 per cent set in May 2011, 2014, and 2015. The average for May going back a decade is 64 per cent.
D2 cows in Ontario were about $3 per cwt. softer than the previous week, while D3 cows were fully steady.
Like those in Western Canada, Ontario slaughter cow prices historically peak in June, trending sideways throughout the summer.
Feeder calf market strengthens
Alberta auction volumes for the week ending June 13 were 42,992 head, more than triple the volume for the same week in 2024. This was the largest volume for the same period over the past 20 years.
Canfax average feeder steers closed the week $1.35 per cwt. stronger than the previous week. This was led by steers weighing 700 to more than 900 pounds bringing $3.78-8.33 per cwt. more than the previous week .
Heifers ended the week $5.07 per cwt. stronger. This included a rally from 300-500 lb. calves strengthening by $11.67-15.69 per cwt.
Canadian feeder cattle exports to the United States for the week ending May 31 were 2,216 head, down by 71 per cent from 2024.
Year-to-date exports are 77,800 head, 11 per cent above last year’s volumes. Weekly exports to the U.S., however, have fallen by 23 per cent since early May.
In May, the 550-lb. steer-to-heifer price spread was $55.91 per cwt. This narrowed by $2.45 per cwt. from April and is the tightest spread recorded for 2025.
On the other hand, the 850-lb. steer-to-heifer price spread in May was $36.86 per cwt., widening by $16.47 per cwt. from April to widen for the first time since January.
Cutouts rally
U.S. cut-out prices saw a sharp rally of $6-$10 per cwt. the week ending June 13.
Choice finished the week at $376.72 per cwt., while Select closed at $363.07 per cwt.
The Choice-to-Select spread was $13.65 per cwt., widening by $5 per cwt. from the previous week. However, this is weaker than both this time last year and the five-year average.
