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.
New price high
Closing last week on either side of $250 per hundredweight, western Canadian fed prices established new record highs. Feedlot margins are still negative for many cattle being sold now.
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Canfax Cattle Market Report – July 17, 2025
The western Canadian fed market pulled back slightly during the week ending July 11, but prices are still within $5 per hundredweight of June’s record highs.
Yearling supplies are declining while fed calves are a solid month away from the market. The cattle feeder has the upper hand.
Last week, packers were actively looking for additional cattle. Dressed sales ranged from $412-$423.50/cwt delivered.
The Alberta fed cash-to-futures basis strengthened from -$0.08/cwt to +$4.52/cwt. Alberta fed basis levels have followed a similar trend to last year with a strong shift in April.
From highs in January, Canadian steer carcass weights have declined more than 35 pounds. Despite lower carcass weights, quality grade percentages continue to impress.
For the week ending April 6 , Canadian Prime and AAA grading was just over 85 per cent, a new record high. This is a testament to the genetic improvements seed stock/cow-calf producers have adopted over the past number of years, and good feeding practices in feedlots.
In Ontario, dressed sales were reported at $400/cwt delivered, fully steady with the previous week.
In the U.S., dressed sales in Iowa and Nebraska ranged from US$293-$295/cwt, $2-$3/cwt lower than the previous week. Live sales in the northern feeding states were at $185/cwt while sales in Texas and Kansas were $182/cwt, $2/cwt lower.
U.S. beef exports for February were three per cent lower than last year. In February, less beef was shipped to Japan (-16%), South Korea (-9%) and China (-3%). U.S. beef imports for February were 24 per cent larger than last year. Larger beef imports were noted from Australia, Brazil, New Zealand and Uruguay.
Cow prices climb
Alberta D2 cow prices continued to climb last week. At $174.54/cwt, they are up $2.86/cwt from last week and up $44.12/cwt from last year. Cow prices have set a new record high every week since March.
Similarly, Alberta D3 cows have traded higher every week since the start of the year. This week, they traded record high at $162.79/cwt, up $8.73/cwt from the previous week and up $46.87/cwt from last year. Slaughter bulls averaged $190.71/cwt.
The spread between Alberta and Ontario D2 cows was $16.35/cwt. At the beginning of the year, Alberta D2 cows were at discount to Ontario D2 cows. But since the first week of February, Alberta has consistently traded at a premium to Ontario, with the highest premium seen in the last week of March at $19.42/cwt.
Canadian non-fed slaughter volumes for the week ending March 16 show a one per cent increase compared to the previous week at 9,719 head. Year to date non-fed slaughter at 114,484 head is down 7.7 per cent from last year.
Busy auction scene
Alberta auction volumes reached 35,440 head last week, more than double the previous week’s volume. Feeder prices continued to face pressure with USDA revising its beef and pork production estimates for 2024 upward.
Beef production is now forecast to be down a modest 1.9 per cent from last year. When combined with larger beef imports, per capita beef supplies are expected to be steady with 2023 and down a modest 1.7 per cent from 2022. This is a big change from projections a year ago and even from January.
Last week, Alberta steers remained steady to $16.52/cwt softer compared to the previous week, with grass-type steers trading much weaker than heavyweights. Similarly, Alberta heifer prices traded mostly steady to $12/cwt softer than the previous week, with only 400-500 lb. heifers $8.70/cwt stronger.
The spread between Alberta 550 lb. steers and heifers for March has shrunk by $16.04/cwt since January to $43.51/cwt, the smallest spread this year, and only $1/cwt larger when compared to last year.
For the week ending March 30, exports of feeder cattle to the U.S. were down two per cent from the previous week at 3,363 head but are 12 per cent higher than last year. Year to date feeder exports at 33,721 head are up eight per cent from last year.
Cutout values curbed
In U.S. beef trade, last week’s slaughter estimate of 613,000 head was the largest weekly slaughter since the first week of February, possibly putting a ceiling on cutout values. Choice cutouts trended on either side of US$300/cwt over the previous week and a half, closing at $298.37. Select closed at $295.15 per cwt.
