This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattle 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 down
Alberta fed prices remain near record highs, closing the week ending Feb. 28 in the mid-$270s per hundredweight.
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Steers were down slightly from the previous week, easing $0.96 to $274.34 per cwt., while heifers were down by $1.49 to finish the week at $271.69 per cwt.
From January to February, fed steer prices are up $7.85 per cwt. and fed heifers are up by $7.05 per cwt. This is the second-largest rally for fed steers and the largest for fed heifers seen for the same period in the past decade.
Dressed sales were reported $2 per cwt. lower than the previous week at $$458-460 per cwt. delivered.
Cattle were purchased by all three western Canadian packers, and cattle were scheduled for delivery from early March to early April.
The Alberta cash-to-futures basis was -$11.48 per cwt. This is $5.95 per cwt. lower than the previous week, remaining steady with the five-year average.
The nearby live cattle contract closed the week at $197.72 per cwt., only $4.12 per cwt. shy of the low established at the beginning of 2025.
Canadian fed cattle and cow exports to the United States for the week ending Feb. 15 were 14,818 head, 12 per cent more than this time last year.
Year-to-date exports are 92,330 head, 30 per cent more than last year, and the largest year-to-date export volume in the past decade.
No trades or bids were reported in Ontario. Although buying interest from Moyer in Pennsylvania was noted for cattle on a cash-to-grid basis, Canfax reported that no negotiated cash sales to the U.S. were confirmed.
Cow prices have rallied
Alberta cow prices have rallied a little more than $20 per cwt. since the start of 2025. For the week ending Feb. 28, D2 cow prices averaged more than $200 per cwt.
Dressed sales were also reported to be stronger.
Canfax has reported a significant increase in grain-fed cows on offer over the past few weeks, with the major packers active on the non-fed market.
Cow prices in Alberta traded at a $30 per cwt. premium against the Ontario market, something that doesn’t occur often. For example, Alberta cow prices in 2024 on average were at a $17.75 per cwt. premium against the Ontario market.
The increase in cow prices from February to March is usually the largest of the year, based on the five-year average.
Demand for ground beef in the U.S. remains strong, and retail ground beef prices in January were 10 per cent higher than in 2024, hovering near record-high prices.
Auction volumes recover
Auction traffic has recovered quickly after cold temperatures decreased auction volumes in the first half of February.
For the week ending Feb. 28, some auction markets in Saskatchewan and Manitoba reported more than 5,000 head in their weekly feeder cattle sales. This is double the volume normally seen at this time of year.
Calf and feeder prices remain strong, even with larger volumes.
Sales on the cash market were stronger, but pressure was reported on some forward delivery sales going into the summer, with prices off by around $10 per cwt.
Grass buyers have been showing good interest on cattle weighing around 500-725 pounds.
The steer to heifer calf price spread has been more than $75 per cwt. over the last few weeks, the largest price spread on record. Traditionally, February is when the largest spread between steer and heifer calf prices is seen.
Heifers weighing 900-1,050 lb. for September delivery traded in the range of $333-339 per cwt., with a weighted average price of $336.31 per cwt. at 998 lb. Compared to this time last year, prices are $26 per cwt. higher.
Demand at herd dispersals continues to be good, and the majority of bred cattle sold are returning to ranches.
Bred females averaged $4,125 per head during the week ending Feb. 28.
U.S. Choice cutouts finished the week 0.3 per cent lower than the previous week at $311.18 per cwt., while Select cutouts eased by 0.5 per cent to close at $302.13 per cwt.
Like the previous week, the Choice to Select spread is in line with historical trends for this time of the year, closing the week at $9.05 per cwt.
