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.
New record-high fed prices set again
The fed market continues to be hot, with new record-high prices set in both Eastern and Western Canada during the week ending Sept. 5.
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Alberta fed steer prices strengthened by $4.70 per hundredweight to close the week at $313.39 per cwt. Fed heifers finished the week at $311.13 per cwt., moving $5.81 per cwt. higher.
Over the past month, Western Canadian fed prices rallied by $13 per cwt. and basis levels strengthened. Alberta fed prices were at a discount of $22 per cwt. against the Nebraska market, making this the strongest basis since July 2025.
While all Western Canadian packers showed buying interest, there was limited competition on the cash market. Light trade was reported, and dressed sales were at $525 per cwt. delivered, with cattle booked for delivery in the second half of September.
At time of writing, Western Canadian fed slaughter volumes were more than 40,000 head in four of the past five weeks, and increased slaughter rates supported cash cattle demand.
Western Canadian B4 grade cattle were more than 1,100 head for the week ending Aug. 30. This was the largest volume since September 2022. According to Canfax analysts, this increase in B4 grade cattle could be due in part to warmer temperatures.
Dressed sales in Ontario were reported at $542 per cwt. delivered, up $7 per cwt. from the week prior, and cattle that sold were scheduled for delivery the next week.
Non-fed prices mixed
Alberta D2 and D3 cows sold through commercial auction facilities for the week ending Sept. 5 were steady to $2 per cwt. above the previous week’s prices. Both were $10 per cwt. below their highs set in early summer.
Railgrade cows were fully steady with the week before, while feeder cows and butcher bulls softened by $1-6 per cwt.
In August, Alberta D2 cows brought an average of $219 per cwt. This was $26 per cwt. stronger than in August 2024 and was up $95 per cwt. from the five-year average.
In Ontario, D2 and D3 cows in Ontario moved largely sideways over the span of three weeks, nearing annual and all-time highs. They closed the week ending Sept. 5 within $1 per cwt. of the previous week’s prices.
In August, Ontario D2 cows brought an average of $222 per cwt., $44 per cwt. more than in August 2024 and $102 per cwt. above the five-year average.
Between January and July, Ontario D2 cows were at an average discount of $23 per cwt. to Alberta D2 cows. In August, however, they moved to a premium of $3 per cwt.
Feeder market heats up
The feeder market’s rally continued during the week ending Sept. 5, with lighter-weight steers bringing $21.75-23.50 per cwt. more than the week prior.
Heavier steers weighing between 700-900 pounds and up strengthened by $3.50-4.89 per cwt.
Heifers across all weight classes were hot, with calves weighing 400-600 lb. rallying $20.38-32.50 per cwt. Heifers between 600-900 lb. were up $7.12-15.83 per cwt. from the previous week.
Alberta auction volumes for the week were 20,884 head, 14 per cent below 2024 volumes. Mixed prices were seen at commercial auction facilities across Alberta, likely the result of drought conditions varying from region to region. Of the total auction volume, 54 per cent were electronic sales.
With more calves on the market, yearling volumes through electronic sales were below what is normally expected at this time of year.
Canadian feeder cattle exports to the U.S. for the week ending Aug. 23 were 1,892 head, four per cent more than last year. Year-to-date exports are two per cent higher than last year at 102,934 head.
Choice cutouts rally fades
Early in the week ending Sept. 5, U.S. cutout values rallied, with Choice reaching $416 per cwt. and Select rising to $390 per cwt.
However, the end of the week saw Choice fully steady with the previous week and Select up by just $2 per cwt.
The Choice-to-Select spread was $26.44 per cwt., continuing to widen counter-seasonally. This was $14.25 per cwt. wider than in 2024 and $5.50 per cwt. wider than the five-year average.
Historically, beef demand decreases throughout September and into October.
