Canfax Weekly Article | Report for the Week of August 4, 2026

Alberta fed steers and heifers continued their seasonal decline, averaging $324/cwt and $321/cwt respectively, $7-8/cwt lower than the previous week. Over the past four weeks, fed cattle have traded $30-33/cwt lower. Dressed sales were reported from $535-542/cwt delivered, $8-15/cwt lower than the previous week. Buying interest was limited with one packer not bidding on cattle. Cattle that traded were scheduled for delivery for the second half of August. U.S. packer interest was noted, and bids were at a slight premium over local bids. The nearby live cattle contract closed last Friday at $231.75/cwt, rebounding $8.55/cwt from the previous Wednesday.

Hot and dry weather in July and a lack of rain in some parts of Western Canada may begin to negatively impact pasture conditions. Last week, auction volumes totaled just over 13,000 head, 40 per cent smaller than the same week last year and down 35 per cent from the five-year average. For July, the volumes were 15 per cent smaller than last year and 5 per cent below the five-year average. Canfax average feeder steers closed the week $4/cwt stronger, while heifers averaged $3/cwt lower. Most sales last week were feeder cattle from 6-1100 lb. Leading the way were 8-900 lb steers, rebounding $19/cwt from the previous week.

From their highs in July, cow and bull prices have dropped $9-10/cwt. Despite softer prices, the non-fed market has been impressive, holding up better than the fed cattle market. On a dressed basis, the Alberta cow to fed cattle price spread is the narrowest it has been this year. Butcher cow prices have been averaging in the upper $240’s/cwt for the past couple weeks and are trading $29/cwt higher than last year. YTD Western Canadian cow slaughter is 5 per cent lower than last year, yet YTD non-fed production is slightly larger (+0.4 per cent) than last year. Butcher cow prices traditionally see a little bit of an uptick during the first half of August. A small rally is possible, but second half of the year price highs are likely in the books.

Bull

• Forward delivery market continued to have large premium over the current cash market
• U.S. fed market saw stronger price tones
• Nearby live cattle contract rebounded from the previous week

Bear

• Western Canadian fed market continues seasonal decline
• Lack of rain in some parts of Western Canada begins to impact pasture conditions
• Beef cutout continues to struggle