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 softens
The western Canadian fed cattle market at last began to ease during the week ending Sept. 19, though prices were still near record highs.
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Alberta fed steers closed the week at $312.52 per hundredweight, down $4.74 per cwt. from the previous week. Fed heifer prices softened by $2.49 per cwt. to finish the week at $309.20 per cwt.
While annual low fed prices are usually seen at this time of year, fed prices have rallied seven per cent since the start of July. This is the second-largest third-quarter price rally seen in the last 15 years.
Historically, Western Canadian fed slaughter volumes peak in the second half of September, so in terms of supply, the market is likely working through peak numbers.
Light to moderate trade was reported, with dressed sales in the range of $520-$525 per cwt. delivered. Cattle that traded were scheduled for October delivery.
All western Canadian packers showed buying interest. Fed cattle from Saskatchewan and Manitoba were making their way west for slaughter in Alberta.
In Ontario, dressed sales were steady with the previous week at $542 per cwt. delivered. Cattle were scheduled for delivery during the week of Oct. 6.
On a cash basis, eastern Canadian fed prices traded at a discount of $2 per cwt. against the Nebraska market. This was one of the strongest basis levels seen this year.
Non-fed market mixed
Non-fed prices in Alberta were mostly stronger during the week ending Sept. 19, with Ontario prices mostly softer.
In Alberta, butcher bulls saw the highest gains, with prices up $9 per cwt. from the previous week.
D2 and D3 cow prices rose to around $2 per cwt., while feeder cows softened by about $6 per cwt.
Rail grade cows were tracking sideways for seven weeks, trading in the range of $420-430 per cwt.
D2 and D3 cows in Ontario eased by almost $5 per cwt.
While auction volumes in Alberta have been below 2024 levels since the start of August, Ontario auction volumes have been higher than last year’s volumes. The larger volumes coming to town over the last seven weeks may be a result of August’s drought conditions in Eastern Canada.
Strong rally for feeder calves
The feeder market saw impressive prices across almost all classes of cattle during the week ending Sept. 19.
Steer calves weighing between 300 and 500 pounds rallied $32-$34 per cwt. Heifer calves weighing in the 400-600 lb. range had a similarly strong week, up $35-38 per cwt.
The outlier was heifers in the 700-900 lb. range, easing $1-$5 per cwt. lower.
Over the last six weeks, prices for 550 lb. steers and heifers prices strengthened by $94 per cwt. and $114 per cwt., respectively. Throughout 2024, 550 lb. steers and heifers rallied by $92 per cwt. and $110 per cwt., respectively, making the more recent rally all the more significant.
Canfax analysts anticipate strong prices to continue as the fall run ramps up.
Auction volumes in Alberta were 54,510, head, 59 per cent below 2024 volumes.
Although the nearby feeder cattle contract has been volatile, it made up much of its losses and closed on Sept. 19 at $359.15 per cwt.
Canadian feeder cattle exports to the U.S. for the week ending Sept. 6 were 2,099 head, 54 per cent higher than in 2024. This was the third consecutive week that feeder exports from Eastern Canada were larger than those from Western Canada.
Year-to-date feeder exports were at 107,047 head, up two per cent from last year.
Cutouts down
U.S. cut-out prices continue to slide seasonally, down significantly from the five-year- average on the week ending Sept. 19.
Choice prices dropped by $15 per cwt. from the previous week , and Select prices were down by about $18.50 per cwt.
The Choice-to-Select spread was $24.50 per cwt. This was about $13 per cwt. wider than in 2024 and $4 per cwt. wider than the five-year average.
