Canfax Weekly Article | Report for the week of April 6, 2026

Seasonally, after the Easter holiday warmer weather is usually price supportive for the beef complex. Packer margins have improved in recent weeks with a stronger cutout and utilization. Alberta direct cattle saw light trade with dressed sales reported at $545.00/cwt delivered, $5.00/cwt stronger than the previous week. Buying interest was noted from all Western Canadian packers. Cattle that traded were scheduled for delivery anywhere from 1-4 weeks. Historically, fed prices rally 2.5 per cent from March to April (20-year average excluding 2020 COVID disruptions). As weather warms up, look for seasonal spring demand to pick up.

Last week, Alberta auction volumes were 26,803 head, down 47 per cent from last year and 20 per cent below the five-year average. The Canfax average feeder steers closed $3.00/cwt lower, while heifers were $3.00/cwt stronger. Alberta 550 pound steer calf prices have been fairly stable over the past month averaging on either side of $700.00/cwt, holding near record high levels. Barley prices continue to advance trading at the highest point since early July. Stronger barley prices have taken some of the shine off the feeder market; especially on heavier weight feeders over 1,000 pounds.

Alberta D2 cows saw slight pressure this week after trading stronger for four consecutive weeks, averaging $240.00/cwt, $1.50/cwt lower than the previous week. For the month of March, D2 cows averaged $238.00/cwt, up 3 per cent from the previous month and 19 per cent from last year. Over the same period, Alberta D2 cows were at a $3.80/cwt premium over the U.S. and a $30.00/cwt premium over Ontario. Western Canadian cow slaughter in March was 23,904 head, up 7 per cent from February, but the smallest March slaughter since 2015.

Bull

• After the Easter holiday, warmer weather is usually price supportive for the beef complex
• Butcher bulls continued to gain momentum, trading stronger each week since the start of the year
• Live cattle contracts for June and August set new highs

Bear

• Barley prices continued to advance trading at the highest point since early July
• Western Canadian steer carcass weight jumped 10 pounds last week and are now 28 pounds heavier than last year
• U.S. market rallied more, resulting in a weaker basis (-15) last week