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

Last week, the Canfax average fed steer and heifer price closed on either side of $320/cwt live, holding at record high levels. Buying interest was noted from all Western Canadian packers but competition on the cash market was limited. Light trade was reported with dressed sales ranging from $523.50–536.50/cwt FOB the feedlot. In some instances, cattle were bought flat with no heavy weight carcass discount; while other sales had heavy weight discounts at 1,050 pounds. Cattle that traded were scheduled for the second half of March delivery. Last week on a cash-to-cash basis, Alberta fed prices were at an estimated $1.50/cwt premium against the Nebraska market and is the strongest basis since June 2023.

The Canfax feeder steer and heifer prices closed the week $6–9/cwt lower. Alberta calf prices were $11–13/cwt lower. Despite the pressure, Alberta calf prices are trading at a $100/cwt premium against the Ontario market. Demand for replacement heifers continues to be strong. Last week in Alberta, there were quite a few sales highlighting palpated replacement quality heifers. Heifers weighing from 775–950 pounds traded from $4,200–5,500/head averaging around $4,500–4,700/head area, depending on the sale. Alberta auction volumes were just over 31,000 head, 10,000 head larger than last year. Canadian feeder cattle exports to the U.S. for the week ending February 28th totaled 2,424 head.

Last week, Alberta D2 cows traded $2/cwt higher, averaging $235/cwt with a range from $212–258/cwt. D3 cows averaged $213/cwt. Feeder cow buyers continue to be active on the market. Butcher bulls traded steady, averaging $247.50/cwt, with a range from $210–290/cwt. Canadian slaughter bull exports to the U.S. for the week ending February 28th totaled 341 head.

Bull

• Select cutout values closed over U.S.$390/cwt, the highest point since May 2020
• Last week, Alberta cow established new record highs
• In Western Canada, packer lift times have tightened over the past few weeks

Bear

• AB/SK March 1st cattle on feed inventories are larger than last year
• War conflict in the Middle East has pushed oil and gas prices higher. A prolonged stretch of higher energy prices could have an impact on beef demand
• Union workers at the Greely, Colorado plant are expected to strike on March 16th. This announcement pressured live and feeder cattle contracts