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 fed price high
The western Canadian fed cattle market continues to be nothing short of impressive, with new record-high prices set yet again on the week ending May 9.
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Alberta fed steers ended the week at $293.86 per hundredweight, up by $1.36 per cwt. from the previous week. Fed heifers followed suit, rising $1.77 per cwt. to finish the week at $292.02 per cwt.
Fed prices have rallied $36.39 per cwt. since the beginning of 2025, making it the third-largest rally in the past decade.
Dressed sales were $490-493 per cwt. delivered, up $3 per cwt. from the previous week.
All three western Canadian packers showed buying interest. Cattle that traded were scheduled for delivery anywhere from immediately into June.
The Alberta cash-to-cash basis was -$15.21 per cwt. This is $7.84 per cwt. lower than the high set only a month ago and $9.89 per cwt. below the five-year average.
Canadian fed cattle and cow exports to the United States for the week ending April 26 were 4,412 head.
This was 67 per cent below 2024 volumes and the lowest weekly volume of 2025 thus far. This was also the third week in a row with weekly exports well below 10,000 head.
Year-to-date exports are a mere four per cent higher than last year, which is the lowest year-over-year increase so far this year since the first week of 2025.
Selling interest in Ontario was limited with the strengthening prices in Western Canada and the U.S., leading many producers to wait for higher bids.
With the light trade, dressed sales were reported at $480 per cwt. delivered, fully steady with prices the previous week . Cattle were booked for delivery in late May and early June.
Non-fed market strong
The non-fed market is also hot, with Alberta cow prices currently the highest in North America.
Competition continues to be strong, with significant interest from packers and those buying feeder cows.
Butcher cows traded $5-$8 per cwt. higher at commercial auction facilities during the week ending May 9.
Over the past few weeks, sale ring prices have advanced, though Canfax pointed out that dressed bids haven’t kept pace.
Some younger cows were sorted out this week, likely heading back to pasture for re-breeding.
Small volumes of cows from Manitoba are moving west for feeding and slaughter in Alberta.
Cow slaughter volumes in Western Canada were a little more than 4,600 head, the lowest weekly volume of 2025 thus far.
Year-to-date cow slaughter is down by 10 per cent from last year; however, D4 grade cow slaughter is up by 33 per cent from 2024.
Feeders trading higher
Alberta auction volumes for the past five weeks have been the second lowest on record at 93,000 head total. The only year that saw a smaller volume was 2020.
Most classes of cattle traded higher during the week ending May 9, with prices remaining around record-high levels.
The heifer market has been quite strong, particularly for lighter-weight stockers.
The price spread between 550-pound steers and heifers is the narrowest it has been this year.
The Alberta 850-lb. feeder steer basis has strengthened over the last month, now holding close to -$3.50 per cwt.
Forward delivery prices have risen by about $25 per cwt. over the last month, at a slight premium compared to the spot market.
While Canadian feeder cattle exports to the U.S. were strong in the first quarter of 2025, this slowed down significantly in April.
Canadian feeder cattle exports for the week ending April 26 were 460, compared to 4,144 head in 2024.
Feeder exports are predicted to stay below year-ago levels over the second quarter because western Canadian calf and feeder prices are trading at a premium to the U.S. exports.
Cutouts solid
U.S cutouts saw a solid week, with both Choice and Select prices rising.
Choice closed the week at $347.89 per cwt., up by around 1.5 per cent from the previous week. Select prices rose by 2.8 per cent to end the week at $333.20 per cwt.
The Choice-to-Select spread was $14.69 per cwt.
