Canfax Weekly Article | Report for the week of August 24, 2026

The Canfax average fed steer and heifer price closed around $309/cwt live, $10/cwt lower than the previous week. Western Canadian packer competition on the cash market was limited with one packer buying most of the cattle. Dressed sales were from $513.50-515.25/cwt FOB the feedlot. Cattle that traded were scheduled for delivery through the month of September. There were reports that one packer was buying cattle for October delivery. At least two U.S. packers showed interest on the Western Canadian fed market. Both U.S. packers were wanting to formula price Canadian fed cattle off the five-area average. Some cattle were committed to the U.S.

Last week, the Canfax feeder steer and heifer price closed the week steady to $4/cwt lower. Heifers weighing from 8-900 lb traded $4/cwt lower, establishing new annual price lows. Yearling prices traditionally pick up momentum from July to August, however, that has not been the case this year. Alberta 900 lb steer price has been flat for the past month averaging on either side of $450/cwt. Heavier weight steer prices are $17/cwt higher than last year. Alberta auction volumes were just over 16,000 head, 8,000 head smaller than last year. For the week ending August 8th, Canadian feeder cattle exports to the U.S. totaled 1,329 head, one of the smallest weekly export volumes seen this year.

Last week, Alberta D2 cows traded $7/cwt lower averaging $239/cwt with a range from $225-259/cwt. D3 cows averaged $215/cwt. Cow prices are at the lowest point since early April. Butcher bulls traded $2/cwt lower, averaging $276/cwt, with a range from $224-315/cwt. For the week ending August 8th, Canadian butcher bull exports to the U.S. totaled 514 head, 13% lower than the same week last year.

Bull

• The All-fresh beef retail price for the month of July is 10% higher than last year.
• Last Friday’s cattle on feed report should be viewed as slightly bullish as feedlot placements came in below pre-report estimates.
• Alberta fed basis levels remain stronger than the three- and five-year average.

Bear

• President Trump announced last Friday the U.S. government would waive over quota tariff rates for ground beef imports, allowing up to 300,000 metric tonnes for 90 days.
• Western Canadian steer carcass weights remain record large for this timer of the year, suggesting feedlots are losing currentness.
• December lean hog contract set new lows last week.