Canfax Weekly Article | Report for the Week of August 10, 2026

Over the past five weeks, fed cattle prices have declined roughly $80/cwt on a dressed basis or over $700/head. This has been one of the largest price drops since covid. Fed cattle prices are trading at the lowest point since February. The Canfax average fed steer and heifer price closed around $313/cwt live, $9/cwt lower than the previous week.

Last week, buying interest was noted from all Western Canadian packers but competition was limited. U.S. packer interest was supportive and light volumes of Western Canadian fed cattle were marketed South. Sales to the U.S. were working back to the low $320/cwt FOB the feedlot. Sales to the U.S. were at a premium over local deals. Most if not all the cattle that traded were scheduled for delivery throughout the month of September.

Even though calf/feeder volumes were too light to establish an average price for many classes, the trend has been lower. Over the past month, calves and light weight stocker prices are down roughly $30/cwt and are trading at the lowest point since January/February. The feeder market is seeing a counter seasonal move lower. Over the past twenty-five years, there have only been three times where second half of the year highs occurred in July (2006, 2009 and 2012). Most of the heavier weight cattle on the market are coming out of backgrounding lots, but there are a few grass cattle starting to hit the market. Alberta auction volumes were close to 11,000 head, 1,000 head smaller than last year.

Last week, Alberta D2 cows traded $1/cwt lower averaging $248/cwt with a range from $215 280/cwt. D3 cows averaged $223/cwt. Butcher bulls traded $2.50/cwt lower, averaging $280/cwt, with a range from $220 320/cwt. For the week ending July 25th, Canadian butcher bull export to the U.S. totaled 695 head, 4 per cent higher than the same week last year.

Bull

• Eastern Canadian fed prices have been the bright spot of the market with prices holding steady over the past couple of weeks.
• Labour Day and back to school promotions should support the beef complex.
• Canadian beef exports for June were 3 per cent larger than last year.

Bear

• Last week, union members at the Cargill plant in Fort Morgan CO rejected the latest contract offer.
• U.S. 50 per cent trim prices are trading below last year and below 2024.
• Western Canadian feedlot margins have narrowed, as cash prices drop close to breakevens.

Also check out the Cattle Report for daily market updates.