Prices remain strong for first quarter 2026

The first quarter of 2026 saw an impressive cattle market. Alberta fed steer prices rallied 10 per cent from January to mid-April, surpassing the five- and ten-year indices of eight per cent and three per cent, respectively. Historically, prices peak in June with another three to eight per cent rally ahead of us. Spring grilling along with May long weekend, Father’s Day and Canada Day all support demand in the second quarter. 

Feeder prices continued to reach for the moon in the first quarter, leading the way for the Artemis II crew. Alberta 550 lb steers averaged $705 per cwt in March, climbing $40 per cwt since January and has been mostly stable near $695 per cwt during the first three weeks of April. The Alberta calf market has been the premium North American market since September 2025. 

May forward delivery prices for 950 lb steers, at $471 per cwt, had an $8 per cwt premium to March’s cash market. A full reporting of forward delivery sales can be found in the Monthly MarketSense for Cow-Calf Producers report. 

Alberta D2 cows have climbed steadily higher, supported by reduced domestic lean trim volumes. It should be noted that some large U.S.-based fast food chains use only North American beef in their patties. Therefore, despite record-high beef import volumes in 2025 with 2026 projected to be even larger, demand for North American lean trim remains strong to fulfill those supply chains. Alberta D2 cows averaged $238 per cwt in March, up $38 per cwt from a year ago. Year to date, Alberta D2 cows have averaged a $28 per cwt premium to Ontario D2 cows and were at par with U.S. utility cows. The price tone was even stronger during the first half of April, breaking $240 per cwt. 

Cull cow prices generally move higher during the first half of the year, plateauing in June as the calendar sets its sights on the dog days of summer. Over the past 20 years (2006-2025), Alberta D2 cows have put in first half of the year highs six times in April (30 per cent), six times in May (30 per cent), and seven times in June (35 per cent). Based on historical trends, there is a 40-50 per cent chance of higher prices between publication time and the end of June. 

Bred cows and heifer prices softened slightly between January and March. However, prices remained near historical highs. In March, bred cows and heifers were 35 to 39 per cent stronger than last year, averaging on either side of $5,800 per head. From the second half of March when the bred cattle market topped and mid-April, bred cows softened $1,200 per head with bred heifers easing almost $500 per head. Between January 2019 and October 2025, Alberta bred heifer cow/heifer prices averaged 137 per cent of an Alberta 550 lb steer calf. Since November 2025, it has been higher at 153 per cent. But by mid-April, it dropped back to 142 per cent, aligning closer with the historic average, though remaining slightly elevated. Overall, demand for breeding females has been strong this winter. 

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This was first published in Volume 6 Issue 2 of ABP Magazine (June 2026). Watch for more digital content from the magazine on ABP Daily.