Canfax Weekly Article | Report for the week of March 3, 2025

Alberta fed prices continue to average in the mid $270’s/cwt. From January to February fed steers and heifer are up $8 and $7/cwt respectively. For the past decade, this is the second largest rally for fed steer and the second largest for fed heifers. Dressed sales were reported from $458-460/cwt delivered, $2/cwt lower than the previous week. All three Western Canadian packers bought cattle. Cattle that traded were scheduled anywhere from early March to early April delivery. The nearby live cattle contract closed at $198/cwt on Friday and is now only $4/cwt away from the low established at the start of the year.

Last week, Alberta auction volumes at 44,714 head, was the second largest volume for the year so far. Canfax average feeder cattle closed the week $7-8/cwt stronger. The cash market was stronger but forward delivery sales into the summer saw prices off roughly $10/cwt. Grass buyers have been active on the market showing good interest. Alberta 4-600 pound steers and heifers saw the biggest rally closing $12-27/cwt stronger than the previous week. Over the past couple of weeks, the steer/heifer calf price spread has been over $75/cwt, the largest on record. From a seasonal perspective, this is not a big surprise as February is traditionally when the steer/heifer calf price spread is the largest.

Last week, Alberta D2 and D3 cows traded $6-7/cwt stronger than the previous week, with D2 cows averaging over $200/cwt. Cows that were placed this past fall and sold on the market today are likely profitable. Alberta cow prices are trading at a $30/cwt premium against the Ontario market, in 2024 on average, Alberta cow prices were $18/cwt premium against Ontario. From February to March, cow prices typically see their strongest rally.

Bull

• Seasonally the fed market picks up into the spring
• March is traditionally a strong month for cow prices
• Alberta 550 pound steers established new record highs

Bear

• Nearby live cattle contract is $4.12/cwt away from annual low established at the start of the year
• Pressure was noted on some forward delivery sales into the summer
• This is the fourth consecutive week of lower U.S. fed cattle prices