Canfax Weekly Article | Report for the week of February 16, 2026

Last week, the Canfax average fed steer and heifer price closed around $310/cwt live, $3/cwt higher than the previous week. Buying interest was noted from all Western Canadian packers. Light trade was reported with dressed sales ranging from $515.25–523.00/cwt FOB the feedlot. Cattle that traded were being scheduled anywhere from immediate to mid March delivery. U.S. packer interest was also noted but no cash sales were confirmed. Last week’s Alberta fed cash-to-futures basis was reported at -18.22, which is stronger than the three-year average.

The Canfax feeder steer and heifer prices closed the week $7–8/cwt higher. The largest week-over-week price increase was on light weight steer and heifer calves with prices advancing $13–16/cwt. Last week, Alberta 550 pounds steers traded $7/cwt higher, averaging in the low $690’s/cwt. Calf prices did establish new record highs. Grass buyers have been very active supporting the lightweight stocker market. Steers weighing over 800 pounds are trading $117/cwt higher than last year. Alberta auction volumes were just over 28,000 head, 10,000 head larger than last year. Canadian feeder cattle exports to the U.S. for the week ending January 31st totaled 1,634 head.

Compared to January, non-fed volumes have started to tighten up, and prices continue to seasonally work higher. Last week, Alberta D2 cows traded $5/cwt higher, averaging $229/cwt with a range from $200–255/cwt. D3 cows averaged $208.50/cwt. Butcher cow prices are back to within a couple dollars of their highs set back last May. Butcher bulls traded $4.50/cwt higher, averaging $235.25/cwt, with a range from $200–271/cwt. Canadian slaughter bull exports to the U.S.for the week ending January 31st totaled 264 head.

Bull

• U.S. 90 per cent trim prices are back to within $13/cwt of their highs set back last summer
• For the month of February, AB/SK cattle on feed inventories are the smallest since 2019
• U.S. retail beef prices have been strong, the All-fresh beef price for the month of January is 16 per cent higher than last year

Bear

• Over the past four weeks, forward beef sales (total load counts) are down 22 per cent compared to last year
• According to a couple news sources, union workers at the JBS plant in Greely Colorado are planning on strike actions
• Since the beginning of the year, at least one Western Canadian packer has been running four-day work weeks