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 steers rise
The western Canadian fed steer price traded $2 per hundredweight higher last week, establishing new annual highs. Seasonally this is when fed prices usually reach their spring highs. Statistically, there is low probability of fed prices strengthening over the next 30 days. It has only happened in seven of the past 35 years.
Read Also
One Beer Market Updates Day 3 – Lentils and beef
Day 3 of the One Beer Market Update at Ag in Motion 2025.
That aside, prices are expected to remain in the upper $160s per cwt., and first half highs are likely ahead. Yearling supplies are declining. Roughly 75 percent of last week’s cash offerings were calves, and there was no price difference between the two. Competition on the cash market was mixed with one packer buying most of the cattle. Dressed sales were reported from $280-$284 per cwt. delivered, with delivery scheduled May 30 to June 13.
The Alberta fed cash-to-futures basis was reported at -$8.48 per cwt. compared to the five-year average of -$1.87 per cwt. May traditionally has the strongest basis of the year.
Dairy cattle have recently been trading at a $12 per cwt. dressed discount compared to beef cattle. USDA reports year to date Canadian fed cattle imports into the U.S. are up 15 percent versus last year. Most of the Canadian fed cattle being shipped south are contract, but there has been a notable increase in formula priced cattle.
Dressed sales in Ontario were reported from $290-$295 per cwt. delivered, steady with the previous week.
In the United States, dressed sales in Nebraska ranged from US$230-$236 per cwt., steady with the previous week. Live sales were reported from $145-$148 per cwt. Sales in Texas and Kansas were at $140 per cwt., fully steady. From their January highs, steer carcass weights have declined 21 pounds.
For the week ending April 15, U.S. beef cow slaughter totalled slightly more than 71,000 head. For mid-April, it was the largest cow slaughter on record. Year to date, beef cow slaughter is 17 percent larger than last year and 22 percent larger than 2020.
Moisture boosts feeder price
Alberta feeder prices realigned $2-$3 per cwt. higher last week on somewhat improved spring moisture. Midweight 500-600 lb. steer calves from Alberta to Ontario averaged $232-$235 per cwt.
In Alberta, 500-600 lb. steer calves rallied almost $5.25 per cwt. higher than the previous week and broke over $235 for the first time since the last week of June 2021. Similar weight heifers rallied almost $7 per cwt. higher than the previous week to $203.50, the highest average seen in 53 weeks.
Larger calves from 600-800 lb. traded steady to $3.50 per cwt. higher last week on continued good grass demand. Yearlings heavier than 900 lb. traded $2.50-$5.50 per cwt. stronger with a slight premium observed for deferred delivery.
Auction volumes realigned 120 percent larger following the April four-day week to 26,734 head. Year to date, auction volumes are tracking one percent below a year ago at 445,106 head. Feeder exports to the U.S. for the week ending April 16 were 43 percent lower than the previous week at 3,120 head due to the Good Friday holiday. Year to date, feeder exports continue to be significantly larger than a year ago at 90,622 head.
Demand for grass cattle is expected to intensify as the growing season draws near.
Cow prices strengthen
Non-fed prices traded steady to stronger last week on continued good demand. D2 slaughter cow prices rallied to a new annual high of $105.94 per cwt. but last week appeared to lose momentum. D3 cows saw a similar sideways trend, averaging $94.25 per cwt.
Dressed cow bids surged around $5 per cwt. higher than the previous week, ranging from $210-$215 per cwt. delivered. Butcher bulls set a new annual high, up $ 2.92 per cwt. to average $123.79 per cwt. With Mother’s Day and Victoria Day, non-fed prices should remain well supported. However, ground freezer stocks are building, and summer buying and non-fed exports could slow.
U.S. cutouts slip
In U.S. beef trade, cut-out values slipped lower on broad-based boxed beef declines, which is not unusual for April. Cut-out values typically rebound higher through May. Choice was sharply US$7.50 per cwt. lower than the previous week to average $262.60, and Select slipped more than $4.50 per cwt. lower to average $251.06 per cwt.
