Canfax Weekly Article | Report for the week of May 11, 2026

Last week, the Canfax average fed steer and heifer price closed around $338/cwt live, $3/cwt higher than the previous week. Buying interest was noted from all Western Canadian packers but competition on the cash market was somewhat limited. Light trade was reported with dressed sales ranging from $560.00–$565.00/cwt FOB the feedlot. Cattle that traded would be picked up during the second half of May. Most of the cattle that were marketed were yearlings, but a few calves did trade last week. Over the past couple of weeks, Alberta fed prices have been trading at a $12/cwt discount against the U.S. market.

Larger volumes of heifers have been reported at many commercial auction facilities. In some instances, heifers are accounting for 70 per cent of the total feeder offering. Last week, the Canfax feeder steer and heifer price closed the week $6–$8/cwt higher. Steer and heifer calves from 5–600 pounds traded $6–$17/cwt higher last week establishing new record highs. Alberta 650 pound heifer price has moved higher for the past month gaining $13/cwt; grass buyers remain active on the market. The forward delivery market was lightly tested. AB/SK heifers weighing from 1,000–1,050 pounds for August/September delivery traded from $430–$439/cwt. Alberta auction volumes were just over 21,000 head, 5,000 head smaller than last year. Canadian feeder cattle exports to the U.S. for the week ending April 25th totaled 2,454 head.

Compared to a month ago, there has been an uptick in non-fed volumes, as more calving culls are hitting the market. Last week, Alberta D2 cows traded fully steady averaging $248/cwt with a range from $220–$278/cwt. D3 cows averaged $222/cwt. Butcher bulls traded $1/cwt higher, averaging $270/cwt, with a range from $225–$331/cwt. Canadian slaughter bull exports to the U.S. for the week ending April 25th totaled 541 head.

Bull

• With the grilling season just around the corner, demand for middle cuts tends to improve
• Carcass weights usually decline from now right through until late June
• The first half of May is traditionally the strongest Alberta fed cash-to-futures basis of the entire year

Bear

• U.S. pork cutout values are trading below the five-year average
• In March, U.S. beef exports were 20 per cent lower than last year
• Western Canada fed slaughter volumes in April were historically small